The Dr Reddy's Laboratories stock rose in early trade today after the firm received US FDA final approval for launch of Buprenorphine and Naloxone Sublingual film drugs. At 10:13 am, the stock was trading 3.76% or 85 points higher at 2353 level on BSE. It was the top Sensex gainer in trade today followed by Sun Pharmaceuticals (1.76%) and Reliance Industries (1.49%). The stock opened at 2,319 level and hit an intra day high of 2,360 level. Its market capitalisation rose to Rs 39,111.86 crore on BSE.
The stock has been gaining for the last eight days and has risen 20.08% in the period.
It opened with a gain of 2.23% today. The stock has gained every month in the last seven months and has generated 20.02% returns in the period.
The stock is down 2.67% since the beginning of this year and has fallen 13% during the last one year.
The firm said it has received final approval from the US Food and Drug Administration (USFDA) and is launching Buprenorphine and Naloxone Sublingual Film, 2 mg/0.5 mg, 4 mg/1 mg, 8 mg/2 mg, and 12 mg/3 mg, a therapeutic equivalent generic version of Suboxone (buprenorphine and naloxone) sublingual film, in the United States market.
Buprenorphine and naloxone are used to treat adults with opioid dependence/addiction. Buprenorphine helps suppress withdrawal symptoms caused by discontinuation of opioid drugs, and naloxone reverses and blocks the effect of opioids. This combination of medications is used as part of a complete treatment program including prescription monitoring, counseling, and psychosocial support.
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