Dr Reddy’s Laboratories has moved higher by over 2% at Rs 1,880 after the company said it has launched Finasteride tablets (1 mg), a bioequivalent generic version of Propecia in the US market on Wednesday.
“The company has launched Finasteride tablets (1 mg), a bioequivalent generic version of Propecia (Finasteride) tablets in the US market on January 2, 2013,” Dr Reddy’s Laboratories said in a statement.
Dr Reddy’s ANDA for Finasteride tablets has been awarded a 180-day period for marketing exclusively in the US on January 2, 2013, it added.
According to IMS Health, the Propecia tablets brand has US sales of approximately $136 million MAT for the most recent twelve months ending in October 2012.
The stock opened at Rs 1,849 and hit a high of Rs 1,884 after the announcement on the NSE. A combined 183,746 shares have changed hands on the counter so far on both the exchanges.