Dr. Reddy's Laboratories Ltd.
) recently announced the launch of its therapeutic equivalent
generic version of
) Reclast (zoledronic acid 5 mg/100 mL) Injection in the US. The
launch followed the approval by the US Food and Drug
Administration (FDA) of the company's Abbreviated New Drug
Application (ANDA) for Reclast.
Reclast is once-a-year osteoporosis treatment for postmenopausal
osteoporosis. According to IMS Health, Reclast generated US
revenues of approximately $355 million for the 12 months ending
Dr. Reddy's boasts of a strong generic product portfolio. The
company's Global Generics segment revenues jumped 25% year over
year to $380 million in the third quarter of fiscal 2013 (ended
Dec 31, 2012). Strong sales in North America and the emerging
market territories were primarily responsible for the growth
displayed by the Global Generics division.
Generics revenue increased in North America (up 38%), Russia
and other CIS (Commonwealth of Independent States) markets (up
32%), India (up 12%) and the rest of the world/RoW (up
42%). However, generic revenues declined 20% in Europe.
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A few days back, Dr. Reddy's had launched Zenatane (isotretinoin)
capsules, its generic version of Hoffman-La Roche Inc.'s acne
drug Accutane. The US regulatory body granted approval to the
company's generic version of the 10 mg, 20 mg and 40 mg dosage
strengths of the drug. Dr. Reddy's has not yet launched the 10 mg
version. According to IMS Health, the generic version of Accutane
generated US revenues of approximately $309 million for the 12
months ending Jan 2013.
The stock carries a Zacks Rank #3 (Hold). Other generic players
) carry a Zacks Rank #2 (Buy).