Dr. Reddy's Laboratories on Friday announced that it received approval from the US Food and Drug Administration for ANDA 207577 (VeraRing).
ANDA stands for abbreviated new drug application. ANDA contains data which is submitted to FDA for the review and potential approval of a generic drug product. Once approved, an applicant may manufacture and market the generic drug product to provide a safe, effective, lower cost alternative to the brand-name drug it references.Dr. Reddy's said it is evaluating further steps in relation to product.
Dr. Reddy's Laboratories is an integrated pharmaceutical company. The company's consolidated net profit rose 29% to Rs 995.80 crore on 17.7% increase in net sales to Rs 5,763.20 crore in Q2 FY22 over Q2 FY21.
Shares of Dr. Reddy's Laboratories were trading 0.82% higher at Rs 4,632.50 on BSE.
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