Dr Reddy’s Lab stock rose 1% in early trading on June 28 after the firm announced the introduction of 2-deoxy-D-glucose (2-DG), a therapeutic application for COVID-19 patients.
At 09:44 a.m, the stock was trading at Rs.5,352.10, up Rs.40.75, or 0.77 per cent. It has traded between a high of Rs.5,381.85 and a low of Rs.5,312.65 throughout the day.
The commercial introduction of 2-deoxy-D-glucose was announced by Dr. Reddy’s Labs (2-DG). Across India, the organisation will supply major government and private hospitals. The firm stated in an exchange filing that it will make the medication available in hospitals throughout metros and Tier 1 cities in the first few weeks, and then expand coverage to the rest of India.
“2-DG manufactured by Dr. Reddy’s has a purity of 99.5 percent and now it 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 the Government institutions,” the company said. On June 22, Dr.Reddy’s announced the availability of a generic version of Vascepa in The United States. Vascepa is a drug that is used to treat people who have excessive triglyceride levels.
The launch happened a day after the US Supreme Court denied Amarin Corporation’s request to resurrect six Vascepa patents. The Federal Circuit Court of Appeals decided in favour of Dr. Reddy’s and another generic drugmaker, Hikma Pharmaceuticals, who had challenged Amarin’s patent claims on the medicine in 2020.
