Dr Reddy’s Lab in focus after launch of new product
DSIJ Intelligence / 05 Dec 2016
Dr Reddy’s Laboratories declared the launch of Nystatin and Triamcinolone Acetonide Cream, USP, in the US market approved by the US Food & Drug Administration (USFDA).
Dr Reddy’s Laboratories declared the launch of Nystatin and Triamcinolone Acetonide Cream, USP, in the US market approved by the US Food & Drug Administration (USFDA). The company’s newly launched medicine is available in tube sizes of 15g, 30g and 60g.
Nystatin and Triamcinolone Acetonide Cream, USP is generic equivalent of Nystatin and Triamcinolone Cream, USP 1 lakh units/g 0.1 per cent manufacturing by Taro Pharmaceuticals USA Inc. The generic version had US sales of approximately USD 119 million (Rs 811 crore) MAT for the most recent 12 months ended in October 2016 as per IMS Health.
On the financial front, Dr Reddy’s Laboratories’ revenue decreased 11.97 per cent in H1FY17 as compared to the same period in the previous financial year. The company’s EBITDA too reduced 52.01 per cent to Rs 1017 crore in H1FY17 on a yearly basis. Its net profit also dropped 68.36 per cent to Rs 447 crore in H1FY17 as compared to the same period in the previous fiscal.
The share price of Dr Reddy’s Laboratories increased 0.37 per cent on the bourses in early trades and is trading at Rs 3168.25 on intra-day basis.
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