Dr. Reddy launches tablets to cure insomnia in US market
Hyderabad-based pharma major Dr. Reddy's Laboratories has announced the launch of Ramelteon Tablets, 8 mg in the US market on Tuesday.
Ramelteon Tablets are used to treat insomnia that is associated with having trouble falling asleep. As per IQVIA health data, the medication has a projected market size of US$91.3 million in the 12-month period ending May 2019 in the US markets.
Looking at the last quarter Q4FY19, the company's revenue increased by 14 per cent on YoY basis and PAT jumped by 10.8 per cent on YoY basis. The company’s Q4FY19 sales mix comprises of North America (37 per cent), Europe (5 per cent), India (16 per cent), Emerging markets (17 per cent), PSAI (17 per cent) and Proprietary Products & Others (8 per cent).
Dr. Reddy's Laboratories is a multinational pharmaceutical company based in Hyderabad, Telangana in India. It manufactures and markets a wide range of pharmaceuticals in India and overseas.
On Tuesday, the stock of Dr.Reddy's Laboratories opened at Rs. 2,632 per share and made an intraday high and low of Rs. 2,640.55 and Rs. 2,581.30, respectively on the BSE. Finally, the stock settled at Rs. 2,600, down by 31.95 points or 1.21 per cent.