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Dr Reddy's Labs share price gains over launch of COVID-19 treatment drug

In the initial weeks, the Company will make the drug available in hospitals across metros and Tier 1 cities, and subsequently expand coverage to the rest of India, the company said in an exchange filing.

June 28, 2021 / 10:15 AM IST
Dr. Reddy's Laboratories  | Representative image.

Dr. Reddy's Laboratories  | Representative image.

 
 
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Dr Reddys Laboratories share price added a percent in the morning session on June 28 after the company launched 2-deoxy-D-glucose (2-DG), a therapeutic application for treatment of COVID-19 patients.

The stock was trading at Rs 5,352.10, up Rs 40.75, or 0.77 percent at 09:44 hours. It has touched an intraday high of Rs 5,381.85 and an intraday low of Rs 5,312.65.

Dr Reddy's Labs announced the commercial launch of 2-deoxy-D-glucose (2-DG). The company will supply to major Government as well as private hospitals across India. In the initial weeks, the Company will make the drug available in hospitals across metros and Tier 1 cities, and subsequently expand coverage to the rest of India, the company said in an exchange filing.

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"2-DG manufactured by Dr. Reddy's has a purity of 99.5 percent and is being sold commercially under the brand name 2DG™. The maximum retail price of each sachet has been fixed at Rs. 990, with a subsidized rate offered to Government institutions," the company added.

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Dr Reddy’s, on June 22, said that it had launched a generic version of Vascepa in the US. Vascepa is used in treating patients with high triglyceride levels.

The launch came a day after the US Supreme Court rejected a bid by the Amarin Corporation to revive six patents of Vascape. In 2020, the Federal Circuit court ruled in favour of Dr Reddy's and another generic drug-maker Hikma Pharmaceuticals that had challenged Amarin's patent claims over the drug.
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first published: Jun 28, 2021 10:15 am
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