Dr. Reddy's Laboratories announces the launch of Ertapenem for Injection in the U.S. Market

Dr. Reddy's Laboratories Ltd. (BSE: 500124, NSE: DRREDDY, NYSE: RDY, NSEIFSC: DRREDDY, along with its subsidiaries together referred to as "Dr. Reddy's") today announced the launch of Ertapenem for Injection, 1 g/vial, a therapeutic equivalent generic version of INVANZ (ertapenem for injection) for injection, 1 g/vial approved by the U.S. Food and Drug Administration (USFDA).

"We are pleased to bring this important product to market at this time," says Marc Kikuchi, CEO, North America Generics, Dr. Reddy's Laboratories. "We're excited to extend our strategic partnership with Gland Pharma whose hard work, in collaboration with the team at Dr. Reddy's, has enabled the execution of this launch."

"We are delighted about this collaboration, as it brings together Dr. Reddy's experienced marketing and distribution capabilities and Gland Pharma's robust development and manufacturing capabilities. Gland Pharma has an exclusive API supply arrangement for this product and a dedicated manufacturing facility in Hyderabad for Ertapenem Injection. With the launch of this product we see increased capacity utilization of this dedicated Penem facility," says Mr. Srinivas Sadu, MD and CEO of Gland Pharma Ltd.

The INVANZ brand and generic market had U.S. sales of approximately $205 million MAT for the most recent twelve months ending in March 2021 according to IQVIA Health*.

Dr. Reddy's Ertapenem for Injection, 1 g/vial, is available in packs of 10 vials per carton.

Shares of DR.REDDY'S LABORATORIES LTD. was last trading in BSE at Rs.5293.6 as compared to the previous close of Rs. 5329.1. The total number of shares traded during the day was 61728 in over 6997 trades.

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Source : Equity Bulls

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