Dr Reddys trades flat despite announcing launch of Ertapenem in US market
Dr Reddy’s Laboratories Limited along with its subsidiaries today announced the launch of Ertapenem injection, which is a therapeutic equivalent generic version of Invanz (Ertapenem injection). The company received approval from US Food & Drug Administration (USFDA).
The injection is used to reduce the development of drug resistant bacteria and maintain the effectiveness of Ertapenem injection & other anti-bacterial drugs. It should only be used for treating or preventing infections that are proven or strongly suspected to be caused by susceptible bacteria.
The collaboration is between Dr Reddy’s experienced marketing & distribution capabilities along with Gland Pharma’s robust development and manufacturing capabilities. Gland Pharma has an exclusive API supply arrangement for this product and a dedicated manufacturing facility in Hyderabad for Ertapenem injection, which will be marketed & distributed by Dr Reddy’s Laboratories.
According to IQVIA Health, the Invanz brand and generic market had US sales of approximately $205 million MAT for the most recent twelve months ending in March 2021. Dr Reddy’s Ertapenem for injection, 1 g/vial is available in packs of 10 vials per carton.
At 1.08 pm on Wednesday, the shares of Dr Reddy’s Laboratories were trading 0.04 per cent up at Rs 5,295.50 on BSE.
---