Welcome to our dedicated page for Dr. Reddy's Laboratories American Depositary Shares news (Ticker: RDY), a resource for investors and traders seeking the latest updates and insights on Dr. Reddy's Laboratories American Depositary Shares stock.
Dr. Reddy's Laboratories Limited (RDY) is a leading multinational pharmaceutical company headquartered in Hyderabad, Telangana, India. Founded by Kallam Anji Reddy, the company has grown to become one of the largest generic drug manufacturers globally. Dr. Reddy's offers a diverse product portfolio that includes not only generic medications but also injectables and active pharmaceutical ingredients (APIs).
Dr. Reddy's has a substantial footprint in North America, which accounts for approximately 50% of its generics sales. The company also serves markets in India (22% of generics sales), Russia (12%), and various European and Latin American countries. In North America, injectables constitute 25% of its sales, showcasing the company’s ability to innovate and meet various healthcare needs.
Within branded generic markets, particularly in India, Dr. Reddy's has secured a top-five position in critical therapeutic areas such as oncology and gastroenterology. The company’s strong brand reputation has empowered it to achieve significant success in these sectors.
Furthermore, Dr. Reddy's operates a robust API business, manufacturing over 150 APIs and distributing them in more than 75 countries worldwide. This extensive network highlights the company's commitment to quality and global health.
Dr. Reddy's continues to advance its mission through ongoing projects and innovations. Recent achievements, partnerships, and financial health indicators demonstrate a stable and growing enterprise. Investors keen to stay informed about the latest developments in Dr. Reddy's Laboratories can find up-to-date news from various sources, ensuring they remain well-informed on company performance and growth trajectories.
Aditxt, Inc. (Nasdaq: ADTX) has entered a transaction agreement to acquire AiPharma Global Holdings LLC's subsidiary, AiPharma, specializing in antiviral therapies, particularly Avigan/Reeqonus. The acquisition aims to bolster Aditxt's infectious disease segment, with a total loan amount of $15 million and share issuance of up to 65% of outstanding shares upon closing. Avigan has received marketing authorization in several countries, with a global Phase 3 trial for COVID-19 nearing completion. The transaction is subject to due diligence and necessary approvals.
Citius Pharmaceuticals, Inc. (CTXR) announced a definitive agreement to acquire Dr. Reddy's Laboratories' exclusive license for E7777, an advanced oncology immunotherapy for treating Cutaneous T-cell Lymphoma (CTCL). The acquisition involves a $40 million upfront payment, additional milestones totaling up to $110 million, and royalty payments on net sales. E7777, a reformulated version of ONTAK, is nearing FDA approval with a Biologics License Application expected by late 2022. Citius aims to enhance its pipeline and target approximately 30% of the CTCL patient population, estimated at 30,000 to 40,000 in the U.S.
Dr. Reddy’s Laboratories Ltd. announced a definitive agreement with Citius Pharmaceuticals to sell all rights to E7777, an IL-2-diphtheria toxin fusion protein, and related assets. The transaction will grant Dr. Reddy’s an upfront payment of
Dr. Reddy's Laboratories has launched Reddy-Lenalidomide, a generic version of Revlimid, in Canada after receiving approval from Health Canada. This launch is significant as it aims to provide affordable treatment options for Multiple Myeloma and Myelodysplastic Syndrome (MDS) patients. The medication is available in multiple strengths and is part of a broader initiative to enhance patient access through the Reddy2Assist Platform. However, Reddy-Lenalidomide comes with important warnings and limitations, especially regarding its use in pregnant women and potential severe side effects.
Dr. Reddy’s Laboratories has launched a generic version of Librax® in the U.S., specifically Chlordiazepoxide Hydrochloride and Clidinium Bromide Capsules USP, available in 5 mg/2.5 mg strength. This product, approved by the U.S. FDA, targets a market that generated approximately $105.9 million in sales over the last twelve months. The capsules are sold in bottles of 100. The launch aims to provide affordable medication options while addressing the significant risks associated with benzodiazepine use, including potential addiction and withdrawal reactions.
Dr. Reddy’s Laboratories has entered into an asset purchase agreement to sell its U.S. and Canada rights for ELYXYB (celecoxib oral solution) to BioDelivery Sciences International for $6 million upfront and $9 million a year later. The transaction is pending customary closing conditions. ELYXYB is indicated for acute migraine treatment. CEO Erez Israeli highlighted this sale as a reaffirmation of their commitment to innovative products addressing unmet patient needs, expressing confidence in BDSI's capabilities.
Dr. Reddy’s Laboratories Ltd. has announced the re-launch of its OTC Naproxen Sodium Tablets USP, 220 mg in the U.S., approved by the FDA. This product is a store-brand equivalent of Aleve® and serves as a pain reliever and fever reducer. CEO Marc Kikuchi highlighted its significance in the company's Pain/Analgesics portfolio, emphasizing the robust supply chain for consistent product availability. Naproxen Sodium had U.S. retail sales of around $316 million as of July 2021, and the tablets will come in various pack sizes for consumer convenience.
Dr. Reddy's Laboratories has filed its Annual Report on Form 20-F with the SEC for the fiscal year ending March 31, 2021. The report includes consolidated financial statements prepared in accordance with IFRS. Shareholders can access the report online at www.drreddys.com or request a hard copy. The company operates through three key divisions, focusing on affordable and innovative pharmaceuticals in various therapeutic areas across global markets including the USA, India, and Europe.
Dr. Reddy's Laboratories Ltd. has launched Icosapent Ethyl Capsules (1 gram), approved by the U.S. FDA, indicated for lowering triglyceride levels in patients with severe hypertriglyceridemia (≥ 500 mg/dL). The product, available in bottles of 120 capsules, is not approved for reducing cardiovascular risks associated with elevated triglyceride levels. Important safety information includes potential risks of heart arrhythmias, allergic reactions, and bleeding, particularly in patients on anticoagulants. Full prescribing information can be accessed here.
Global Response Aid (GRA) announced significant global sales of its anti-viral drug Avigan®/Reeqonus™ for treating COVID-19, totaling $33 million in revenue. The company has partnered with Dr. Reddy's (NYSE: RDY) and initiated a global Phase 3 clinical trial, reporting a positive interim outlook. Countries including India, Thailand, and Malaysia have approved Avigan® for treatment, with a notable order of over 65 million tablets from the Japanese government. GRA's CEO expressed optimism about Avigan®'s role in combating the pandemic.
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