Hyderabad : Shares of Dr Reddy’s Laboratories rose by over 4% on Friday, adding Rs 2,476.87 crore to its market capitalisation, after the company said it is all set to launch generic version of Valcyte (Valacyclovir Hydrochloride) in the US market soon.
Valganciclovir Hydrochloride is prescribed to patients with acquired immunodeficiency syndrome (AIDS) for the treatment of cytomegalovirus (CMV) retinitis (When CMV virus infects the eyes, it is called CMV retinitis).
Analysts expect that the grant of final approval to Dr Reddy’s would fetch the company $30 to 40 million sales. The US Food and Drug Administration (FDA) has granted final approval to Dr Reddy’s to make cheaper copies of Roche Holding AG’s antiviral Valcyte.
The Hyderabad-based drug maker is set to gain with this approval. The FDA had earlier cancelled the tentative approval given for the drug to Ranbaxy on quality issues pertaining to its facilities.
