Dr. Reddy's Laboratories Ltd.
) recently announced that the launch of its bioequivalent generic
) Zometa (zoledronic acid 4 mg/5 mL) Injection in the US.
Zometa is indicated for the treatment for hypercalcemia of
malignancy. It is also used to reduce and delay bone
complications due to multiple myeloma and bone metastases from
solid tumors. Zometa is used with anti-cancer medicines. Zometa
sales in 2012 were $1.3 billion.
Dr. Reddy's had received tentative approval for the
Abbreviated New Drug Application (ANDA) for the generic version
of Zometa from the US FDA (Food and Drug Administration) in Sep
In Jan 2013, Dr. Reddy's launched its generic version of
Merck & Co., Inc.'
) Clarinex Reditabs (desloratadine 2.5 mg and 5 mg) in the US.
Clarinex Reditabs is indicated for the treatment of seasonal
allergic rhinitis, perennial allergic rhinitis and chronic
idiopathic urticaria. According to IMS Health, Clarinex Reditabs
generated US revenues of approximately $5.3 million for the 12
months ending Nov 2012.
Dr. Reddy's has a robust generic product pipeline. Dr. Reddy's
has 65 ANDAs pending approval with the FDA, of which 35 are Para
IV filings and 8 are first-to-file. Revenues of the Global
Generics segment were up 24% year over year to $380 million in
2012. Strong sales in North America and in other market
territories were primarily responsible for the growth displayed
by the Global Generics division.
The stock carries a Zacks Rank #3 (Hold). Another generic
) carries a Zacks Rank #2 (Buy).
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