Dr. Reddy receives USFDA approval for Sevelamer Carbonate

Dr. Reddy’s Laboratories has bagged the USFDA approval for Sevalamer Carbonate for oral suspension. Shares of the company, however, were trading in the red zone. 

The company is set to embark upon the launch of Sevelamer Carbonate for oral suspension, in 0.8 g and 2.4 g packets, in count size of 90. Dr. Reddy's Sevelamer Carbonate is a therapeutic equivalent generic version of Renvela, oral suspension. Sevelamer is used to lower high blood phosphorus (phosphate) levels in patients who are on dialysis due to severe kidney disease. 

According to IMS Health reports, Renvela brand and generic had a U.S. sales of approximately $101 million MAT for 12 months ending in October 2018. 

The stocks of Dr. Reddy’s Laboratories opened at Rs. 2,639 against Wednesday’s close of Rs. 2,618.25 per share on the BSE. At 15:20 hours, the stock was trading at Rs. 2,585.35, down by 1.26 per cent and reached an intraday high of Rs. 2,650 and an intraday low of Rs. 2,583.90. The 52-week high was Rs. 2,745 and 52-week low was Rs. 1,888. Meanwhile, the BSE Sensex was at 35,815.47 level, up by 0.46 per cent.