Dr. Reddy's Lab spikes on launch of Hydroxychloroquine Sulfate Tablets in US
Dr. Reddy's Laboratories has launched Hydroxychloroquine Sulfate Tablets USP, 200 mg, a generic version of Plaquenil Tablets, in the US market. The drug was earlier approved by the US Food and Drug Administration (USFDA).
The Plaquenil brand and its generics had a US sales of approximately US$215 million MAT for the most recent twelve months ending in May 2018, according to IMS Health. The company’s Hydroxychloroquine Sulfate Tablets are available in 200 mg tablets in the bottle count sizes of 100 and 500. Plaquenil is a trademark of Concordia International Corp.
The promoters holding in the company stood at 26.76 per cent, while Institutions and Non-Institutions held 45.05 and 28.18 per cent, respectively.
Dr. Reddy's Laboratories is an integrated pharmaceutical company engaged in the manufacture of generics, Proprietary Products, Pharmaceutical Services & Active Ingredients (PSAI) and biologics.
The stock on Thursday opened at Rs. 2,325 per share and touched a high/low of Rs. 2386.90/2325 and closed at Rs. 2357.95, gaining 2.40 per cent.