Dr. Reddy's Laboratories gained 2.42% to Rs 4,510 after the drug major announced the launch of Fesoterodine Fumarate extended-release tablets in the US market.
The drug is a therapeutic generic equivalent to Toviaz tablets. The drug is indicated for the treatment of overactive bladder (OAB) in adults with symptoms of urge urinary incontinence, urgency, and frequency.
According to IQVIA, the Toviaz brand had U.S. sales of approximately $211 million MAT for the most recent twelve months ending in May 2022.
Dr Reddy's Laboratories is engaged in providing medicines. The firm operates in three segments: global generics, pharmaceutical services and active ingredients (PSAI) and proprietary products.
The pharma major's consolidated net profit tumbled 82.6% to Rs 97 crore on a 15% increase in revenue from operations to Rs 5436.80 crore in Q4 FY22 over Q4 FY21.
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