Dr Reddy launches cancer drug in Indian market

Hyderabad-based pharma major Dr. Reddy's Laboratories has announced the launch of Versavo (bevacizumab biosimilar), 100 mg and 400 mg in the Indian Market on Monday.

The said medicine is used for the treatment of several types of cancers (metastatic colorectal cancer, non-squamous non-small cell lung cancer, recurrent glioblastoma, metastatic renal cell carcinoma, cervical cancer, metastatic breast cancer and epithelial ovarian, fallopian tube and primary peritoneal cancer).

As per IPSOS health data, the medication has a projected market size of Rs. 223 crore in the 12-month period ended December 2018 in the Indian markets.

Dr. Reddy's Laboratories is a multinational pharmaceutical company based in Hyderabad, Telangana in India. It manufactures and markets a wide range of pharmaceuticals in India and overseas.

On Monday, the stock of Dr.Reddy's Laboratories opened at Rs. 2,525 per share and made an intraday high and low of Rs. 2,567.50 and Rs. 2,515.10, respectively on the BSE. At 13:00 hours, the stock was trading nearly at Rs. 2,535.95 on the BSE.