Share of Dr. Reddy's Laboratories rose over 2% in trade today after the company launced Albendazole Tablets, USP, a therapeutic equivalent generic version of Albenza Tablets, 200 mg, approved by the U.S. Food and Drug Administration (USFDA).
The large cap stock rose 2.15% to Rs 5,210 today against previous close of Rs 5,102 on BSE.
Albendazole is an anthelmintic drug indicated for the treatment of parenchymal neurocysticercosis due to active lesions caused by larval forms of the pork tapeworm, Taenia solium.
It is also used for the treatment of cystic hydatid disease of the liver, lung, and peritoneum, caused by the larval form of the dog tapeworm, Echinococcus granulosus. Recently, the company also announced that it has received permission from the Drug Controller General of India (DCGI) to import the Sputnik vaccine into India for restricted use in emergency situations as per the New Drug provisions Clinical Trials rules, 2019 under the Drugs and Cosmetics Act.
In September 2020, Dr. Reddy's had partnered with the Russian Direct Investment Fund (RDIF) to conduct the clinical trials of Sputnik V and distribute the vaccine in India. In addition to the trials conducted in Russia by RDIF. Phase II / III clinical trials of the vaccine were carried out by Dr. Reddy's in India.
"With the rising cases in India, vaccination is the most effective tool in our battle against COVID-19. This will enable us to contribute to our nation's effort of vaccinating a significant proportion of our population," said GV Prasad, Managing Director and Co-chairman, Dr Reddy's Laboratories.
The Albenza brand and generic had U.S. sales of approximately $27 million MAT for the most recent twelve months ending in November 2020 according to IQVIA Health. Dr. Reddy's Albendazole Tablets, USP are available in 200 mg tablets in bottle count sizes of two.
Albenza is a trademark of Glaxosmithkline At 2:00 pm, Dr. Reddy's Laboratories was quoting at Rs 5,198, up 1.89 per cent on the BSE. The stock has delivered 30 per cent returns over the last 12 months.