 "Dr. Reddy's up 2% on launching Toripalimab to treat nasopharyngeal cancer")
Dr. Reddy's Laboratories shares rose 2.1 per cent on BSE in Friday's trade and logged an intraday high of Rs 1,218.45 per share. The stock climbed after the company announced the launch of Toripalimab in India. Toripalimab (Loqtorzi) is a drug used to treat certain types of nasopharyngeal carcinoma (NPC), a type of head and neck cancer.
Around 9:30 AM, Dr. Reddy's share price was up 1.57 per cent at Rs 1211.35 per share on BSE. In comparison, the BSE Sensex was up 0.40 per cent at 79,359.87. The market capitalisation of the company stood at Rs 1,01,068.47 crore. The 52-week high of the stock stood at Rs 1,420.2 per share and the 52-week low was at Rs 1,074.35 per share.
Toripalimab is a new biological entity (NBE). It is the only immuno-oncology drug approved by various regulatory authorities around the world such as the United States Food and Drug Administration (USFDA), European Medicines Agency (EMA), Medicines and Healthcare Products Regulatory Agency (MHRA), and others for the treatment of adults with recurrent or metastatic nasopharyngeal carcinoma (RM-NPC).
In 2023, Dr. Reddy’s entered into a license and commercialisation agreement with Shanghai Junshi Biosciences Co. Ltd for Toripalimab.
Under this agreement, Dr. Reddy’s obtained rights to develop and commercialise Toripalimab in 21 countries including India, South Africa, Brazil, and various countries in Latin America.
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The agreement allows Dr. Reddy’s to expand the scope of the license to cover Australia, New Zealand, and 9 other countries.
With this launch, India became the third country in the world after China and the United States to receive access to this next-generation PD-1 inhibitor 1. Dr. Reddy's Laboratories is a global pharmaceutical company based in India, known for its generic drug development, manufacturing, and distribution. Founded in 1984 by Dr. Kallam Anji Reddy, the company has grown to become one of the leading players in the pharmaceutical industry, providing a wide range of products including generic medicines, active pharmaceutical ingredients (APIs), over-the-counter (OTC) drugs, and biosimilars.
In the past one year, Dr. Reddy's shares have gained 4.3 per cent against Sensex's rise of 18 per cent.