Dr. Reddy's Laboratories Ltd. (RDY) has launched its generic version of Sunovion Pharmaceuticals Inc.’s Xopenex inhalation solution (0.31 mg/3 mL, 0.63 mg/3 mL, 1.25 mg/3 mL unit-dose vials) in the U.S. It can be used only with a nebulizer.
Xopenex is approved for patients aged 6 years and above for the treatment of bronchospasm caused by asthma and chronic obstructive pulmonary disease.
We note that Dr. Reddy's is a late entrant in the market for the generic version of Xopenex. Mylan, Inc. (MYL) and Teva Pharmaceutical Industries Ltd. (TEVA) have already launched their generic versions of the product in 2013.
According to IMS Health, Xopenex and its generic versions generated revenues of approximately $269.7 million MAT (moving annual total) in the U.S. in the 12 months ending Jun 2014.
We are pleased with the performance of Dr Reddy’s Global Generics segment, particularly in North America and emerging markets. In the last fiscal year (ended Mar 31, 2014), Dr. Reddy's Global Generics segment revenues increased 27.4% year over year to $1.8 billion, mainly driven by strong sales in North America and emerging markets.
As of Jul 30, 2014, Dr. Reddy’s had 70 abbreviated new drug applications (ANDAs) pending FDA approval, of which 42 were Para IV filings and 8 were “first-to-file”.
Dr. Reddy's currently has a Zacks Rank #3 (Hold). Investors looking for well-positioned stocks in the pharmaceutical sector may consider Supernus Pharmaceuticals, Inc. (SUPN), carrying a Zacks Rank #2 (Buy).
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