Dr. Reddy's In Bearish Mode Launches Products In U.S. Markets

Stocks of pharma player, Dr. Reddy's are trading weak on BSE, as markets are moving out of early hours of trade, trading down by 0.35% at Rs 2601.80 per share. The pharma player announced today that it has launched Ezetimibe and Simvastatin tablets 10mg/10mg, 10mg/20mg, 10mg/40mg, 10mg/80 mg, a therapeutic equivalent generic version of Vyotrin tablets in U.S. market, being approved by USFDA.

The Vyotrin brand had U.S. sales of nearly $678 million MAT for the most recent 12 months ended in February 2017, as per IMS Health.

The company is among the first to launch generic products in the U.S. market. On a yearly basis, the stock has underperformed BSE Sensex and BSE Healthcare index. The total traded quantity of shares stands at 0.22 lakh; and the market capitalisation at Rs 43,086.46 crore.

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