Dr Reddy's Laboratories on September 8 announced the launch of Remdesivir, meant for treatment of COVID-19 patients, under a brand name ''Redyx'' in India.
Dr Reddy's Laboratories share price gained a percent intraday on September 9 after the company announced the launch of Remdesivir, meant for treatment of COVID-19 patients, under a brand name ''Redyx'' in India.
Dr Reddy's Laboratories on September 8 announced the launch of Remdesivir, meant for treatment of COVID-19 patients, under a brand name ''Redyx'' in India.
According to a press release from the drug maker, the launch is part of the licensing agreement with Gilead Sciences, Inc. (Gilead) that grants Dr Reddys the right to register, manufacture and sell Remdesivir, a potential treatment for Covid-19, in 127 countries including India.
"Dr Reddy's Redyx is available in strength of 100 mg vial," it said. Chief Executive Officer of Branded Markets (India and Emerging Markets), Dr Reddys Laboratories, M V Ramana said, "We will continue our efforts to develop products that address significant unmet needs of patients.
The pharma company launched over-the-counter Diclofenac Sodium topical gel, used for arthritis pain, in the US market.
The Hyderabad-based company''s product is the generic version of Novartis Corporation''s Voltaren gel.
"The launch of product is an important addition to our pain/analgesics portfolio of over-the-counter (OTC) products, and represents our continued commitment to the private label OTC space," Dr Reddy''s Laboratories North America Generics CEO Marc Kikuchi said in a statement.
The company has partnered with Encube Ethicals to bring this product to market for the benefit of consumers, he added.
The stock was trading at Rs 4,388, up Rs 40, or 0.92 percent. It has touched an intraday high of Rs 4,405 and an intraday low of Rs 4,336.20.