Shares of Dr Reddy's Laboratories gained 6.5 percent intraday on April 13 after the company launched blood cancer drug Invista in the country and received Establishment Inspection Report from the US health regulator for Telangana facility.
The company's cancer product is a formulation of Dasatinib that is bioequivalent to the innovator brand, the company said in a statement.
Patent on Dasatinib is owned by Bristol-Myers-Squibb. The Indian patent has expired on April 12, 2020.
Invista, which is available in strengths of 50, 70 and 100 mg tablets, is indicated for the treatment of primarily Chronic Myeloid Leukemia (CML). CML is a type of blood-cell cancer that begins in the bone marrow.
In addition, Dr Reddy's received the establishment inspection report (EIR) from US Food and Drug Administration, for API manufacturing plant 5 at Miryalaguda, Telangana.
It indicated that the USFDA closed the audit. "And the inspection classification of this facility is determined as 'Voluntary Action Indicated' (VAI)," company said in its BSE filing. (with inputs from PTI)
The stock was trading at Rs 3,810, up Rs 191.85 or 5.30 percent on the BSE at 1253 hours IST.
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!
