INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Drug major Dr Reddy's extended its winning streak for the eighth session in a row on Friday
The company today announced it has received final approval from the US Food and Drug Administration (USFDA) to launch Buprenorphine and
Naloxone Sublingual Film, 2 mg/0.5 mg, 4 mg/1 mg, 8 mg/2 mg, and 12 mg/3 mg, a therapeutic equivalent generic version of Suboxone
(buprenorphine and naloxone) sublingual film, in the US market
The product is being launched with an approved Risk Evaluation and Mitigation Strategy (REMS) Program, it said in a BSE
filing.
Buprenorphine and naloxone are used to treat adults with opioid dependence/addiction.
Dr Reddy's will be the third company to exit
the Sensex pack as part of the index reconstitution
price.
The company's management believes that its US business should grow with 15 plus launches in FY19
The drugmaker is likely to complete remediation activities by June-July for both Srikakulam and Duvvada plants
"Hence, it is unlikely that we will see lucrative approvals coming in from these two plants in FY19, leading to further erosion in the US
base business," said HDFC Securities in its research report
The brokerage has 'Neutral' rating on the stock with a target price of Rs 2,340.
At 10:24 am, shares of the company were trading at Rs
2,353 on the BSE, up nearly 4 per cent
