Dr Reddy's may launch three new drugs in US next fiscal
Pharma major Dr Reddy's Laboratories (DRL) may launch three new drugs, which have been successfully come out of legal tangle, in the next fiscal in the USA market.
March 09, 2011 / 20:15 IST
Pharma major Dr Reddy''s Laboratories (DRL) may launch three new drugs, which have been successfully come out of legal tangle, in the next fiscal in the USA market.
According to Dr Reddy''s, the city-based drugmaker may launch Rivastigmine, an anti-mild-to-moderate Alzheimer''s drug, Desloratadine, used to treat allergies and Pseudoephedrine, a nasal/sinus decongestant.In 2008, the company had entered into a settlement agreement with Novartis Pharma which involves a stipulation of dismissal of the lawsuits in the United States relating to Rivastigmine capsules sold under the trade name Exelon.Dr Reddy''s inked agreements in 2009 with Schering and Sepracor of the USA which will allow the Indian drugmaker to manufacture and market generic versions of the Desloratadine starting in 2012.Similarly, Dr Reddy''s got a shot in the arm after the US District Court of New Jersey recently cleared decks for the launch of the generic version of Allegra-D 24 in USA. This product may also be launched next year, the company said.The revenues from generic sales in North America stood at USD 301 million in the last fiscal and USD 287 million so far this year, it said.
When contacted Umang Vohra, Chief Financial Officer, CFO, Dr Reddy''s, said the company was confident of achieving 18% to 22% ROCE (return on capital employed) as far as revenues from USA in this fiscal are concerned. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
