Dr Reddy's Labs Gains on Filing 3 New Drug Applications

Dr Reddy's Laboratories jumped over 2 per cent to hit intraday high of Rs 3,775.30 after the company filed three new drug applications (NDAs) aimed to be used in the treatments of psoriasis, rosacea and migraine with the US Food and Drug Administration (FDA).

 

The Hyderabad-based firm and its subsidiary - Promius Pharma LLC - have filed three new drug applications with the US health regulator, Dr Reddy's Laboratories said in a statement.

 

The three NDAs - DFD-01, DFD-09, and DFN-11, come from Dr Reddy's proprietary products group, which is focused on developing and commercialising therapies in dermatology and neurology, it added.

 

"These products potentially represent new, compelling options for specific segments of patients suffering from Psoriasis, Rosacea and Migraine," Dr Reddy's executive vice president of proprietary products Raghav Chari said.

 

Reacting to the news, the shares of Dr Reddy's Labs advanced. Its shares ended 1.55 per cent higher at Rs 3,742 apiece, outperforming the broader Nifty, which closed 0.62 per cent higher.