On June 28, Dr Reddy’s Laboratories share price added a per cent in the morning session following the company’s launch of 2-deoxy-D-glucose (2-DG). The ‘2-deoxy-D-glocose’ is a therapeutic application for the treatment of COVID 19 patients.
At 09:44 hours, the stock was trading at Rs 5,352.10 up Rs 40.75 or 0.77 per cent. The company witnessed an intraday high of Rs 5,381.85 and an intraday low of Rs 5,312.65.
In an exchange filing, the company stated that Dr Reddy’s Lab declared the commercial launch of ‘2-deoxy-D-glocose (2-DG). The company further clarified that it will supply to major Governments along with private hospitals across India. Furthermore, it elaborated that the company will facilitate the availability of the drug in hospitals across metros and Tier 1 cities and then successively stretch its coverage to the rest of the country.
The company asserted that the 2-DG developed by Dr. Reddy’s has a purity of 99.5 per cent and is being sold commercially under the brand name ‘2DG’. It further informed that the maximum retail price of each sachet has been set at Rs 990 along with a subsidized rate provided to the government institutions.
Earlier in June 22, Dr Reddy’s stated that it had introduced a generic version of Vascepa in the US. It is used to treat patients with high triglyceride levels. The launch followed a day after the US Supreme Court dismissed a bid by the Amarin Corporation to revive six patent of Vascape.
In the year 2020, the Federal Circuit court that ruled in the favour of Dr Reddy’s and generic drug-maker Hikma Pharmaceuticals had challenged Amarin’s patent claims over the drug.
