The shares of Dr. Reddy’s Laboratories were up 3.4 per cent to Rs 4,553.70 in today’s trade.
The company and its wholly-owned subsidiary have launched Dr. Reddy’s Fesoterodine Fumarate Extended-Release Tablets, a generic therapeutic equivalent to Toviaz® (fesoterodine fumarate), which USFDA has approved. These tablets are available in 4 mg and 8 mg tablets, each in bottle count sizes of 30.
According to IQVIA, the Toviaz brand had approximately $211 million in MAT sales.
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Last week USFDA completed a pre-approval inspection (PAI) of the formulation of the company that manufactured facility FTO11 in Srikakulam, Andhra Pradesh. USFDA had issued a Form 483 mentioning two observations and will address them within the stipulated timeline.
Previously, Dr Reddy’s has performed in the market by gaining 4 per cent, against an 8 per cent downfall in the S&P BSE Sensex. Comparatively, the shares have slipped 17 per cent in a year to rise 3.5 per cent in the benchmark index.
