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Dr Reddy’s gains after FDA nod for anti-cancer drug

17 September, 2013

Dr Reddy’s Laboratories Ltd shares rose on Tuesday after the company said it had received the U.S. drug regulator’s approval for selling its generic version of an anti-cancer drug by Celgene Corp’s.

Vidaza, the anti-cancer drug, generated sales of $378.5 million in the United States in the 12 months through July, according to IMS Health

Dr. Reddy’s, whose shares ended 3.6 percent higher, said in a statement it plans to launch the drug in the United States shortly.

“It’s a decent positive for DRL as it is definitely a limited competition drug, but whether the company has a first-to-file would get clarified in the next few days when other players get approval,” said Ranjit Kapadia, an analyst tracking the sector at Centrum Broking.

The first company to file a successful application with the U.S. Food and Drug Administration to sell a generic version of a drug coming off patent gets a six-month exclusivity period in the United States.


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Dr Reddy’s gains after FDA nod for anti-cancer drug

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