Dr. Reddy's Laboratories rose 1.12% to Rs 4258.55 after the company announced the launch of Bortezomib for Injection, 3.5 mg single-dose vial in the U.S. market.
The Bortezomib Injection is the generic equivalent of Velcade (bortezomib) Injection. The drug has been approved by the U.S. Food and Drug Administration (US FDA).
The Velcade brand and generic had U.S. sales of approximately $1.2 billion MAT for the most recent twelve months ending in May 2022 according to IQVIA Health.
Dr. Reddy's Bortezomib for Injection, is supplied in a 3.5 mg per 10 mL single-dose vial presentation for subcutaneous (SQ) or intravenous (IV) use.
Dr Reddy's Laboratories is engaged in providing medicines. The firm operates in three segments: global generics, pharmaceutical services and active ingredients (PSAI) and proprietary products.
The pharma major's consolidated net profit tumbled 82.6% to Rs 97 crore on a 15% increase in revenue from operations to Rs 5436.80 crore in Q4 FY22 over Q4 FY21.
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