Dr. Reddy's Laboratories said that it has announced the launch of the drug-free non-invasive migraine management wearable device, Nerivio in Germany through its step-down subsidiary betapharm.
Nerivio is a prescription-based non-invasive device intended for acute and prophylactic (preventive) treatment of migraine with or without aura for adults and adolescents aged 12 years and aboveThe launch marks the companys entry into digital therapeutics in Europe. Nerivio is approved by the United States Food and Drug Administration (USFDA), and is CE-mark certified in Europe.
The pharmaceutical company will launch the product in South Africa later this month and subsequently in Spain and the UK.
Last year, the company had entered into an exclusive agreement with Theranica, a prescribed digital therapeutics company developing advanced neuromodulation devices for migraine and other pain conditions, for the marketing and distribution of Nerivio in multiple markets.
M.V. Ramana, chief executive officer, Branded Markets (India and Emerging Markets), Dr. Reddys, said, At a time when conversations on migraine focus on migraine5 as a womens health issue, relief from migraine through the use of technology and drug-free solutions, challenges associated with managing migraine during the child-bearing age, and distinguishing migraine from headache, we are happy to take our clinically-proven first digital therapeutics product, Nerivio, to patients in our identified markets.
Nerivio has had an encouraging start in India, with recommendation from neurologists in India and bringing relief to patients living with migraine. We believe this product meets a genuine unmet clinical need among migraine patients, and has the potential to reduce pill burden in migraine.
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 drug major's consolidated net profit increased 10.57% to Rs 1,378.9 crore on 6.57% rise in revenues to Rs 7,214.8 crore in Q3 FY24 over Q3 FY23.
The scrip fell 0.14% to ends at Rs 6159.40 on Wednesday, 10 April 2024. The domestic market is closed today on account of Ramadan.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
