Dr Reddys launches heartburn OTC tablet in US
Dr. Reddy's Laboratories launched omeprazole delayed-release tablets, 20 mg, an over-the-counter (OTC) equivalent of Prilosec OTC in the US market. This has helped the stock trade in the green in an otherwise volatile market on Tuesday.
The company's drug is approved by the U.S. Food and Drug Administration (USFDA). Omeprazole delayed-release OTC tablets is a proton pump inhibitor used to treat frequent heartburn occurring two or more days per week in adult patients. The management believes this launch will expand Dr. Reddy's OTC portfolio.
According to research firm IRI's data, Prilosec OTC and private label omeprazole OTC products had a combined retail sales of approx. US$492 million for the 12 months ending in October 2018 in the US market. The product is available in bottles, each bottle contains 14 tablets for a 14-day course.
At lunch hours, the stock of Dr. Reddy's was quoting Rs. 2718.55 per share, up by Rs. 29.05 or 1.08 per cent on BSE, when the benchmark index BSE Sensex had recovered from its day's low and was at 35,036.87, down by 77.15 points or 0.22 per cent, on Monday.