Dr Reddys launches Febuxostat in US market; stock turns positive

The shares of Dr Reddy's Laboratories were trading in the green on Monday after the drug manufacturer announced the launch of Febuxostat tablets, a therapeutic equivalent generic version of Uloric (Febuxostat) tablets.    

Dr Reddy's Febuxostat tablets are available in the strengths of 40 mg and 80 mg in bottle count sizes of 30 tablets. The above-mentioned drug is used to lower uric acid levels in people with gout and is approved by United States Food & Drug Administration (USFDA).   

According to the data from IMS Health for the twelve-month ending October 2020, Uloric brand and generic had US sales of approximately US$ 108 million MAT.   

Dr Reddy's Laboratories is an integrated pharmaceutical company providing a portfolio of products & services comprising APIs, custom pharmaceutical services, generics, biosimilars, and differentiated formulations across major markets of the world.  

At the time of market closing on Monday, the stock of Dr Reddy's Laboratories was trading at Rs 5,403.95 per share, up by 1.25 per cent or Rs 66.65 per share on BSE. It has a 52-week high of Rs 5,514.65 and a 52-week low of Rs 2,497.60 on BSE.