doctor reddy's lab-adr (RDY) Key Developments
Food and Drug Administration Approves Six Generic Versions of the Cymbalta from Dr. Reddy's Laboratories Ltd., Sun Pharma Global and Teva Pharmaceuticals
Dec 11 13
The Food and Drug Administration has approved the first generic versions of the blockbuster antidepressant Cymbalta, offering lower-cost access to one of the most widely prescribed treatments for depression, anxiety and other disorders. Cymbalta is Eli Lilly & Co. Inc.'s best-selling drug and posted 2012 sales of $4.7 billion, making it the fifth-highest selling medication in the world. The drug's patent expired on December 11, clearing the way for the launch of cheaper versions of the drug from generic drugmakers. Generic drugs often sell for a fraction of the price of the original branded product. The FDA said it approved six generic versions of the pill from drugmakers including Dr. Reddy's Laboratories Ltd., Sun Pharma Global and Teva Pharmaceuticals.
Genzyme Corporation Along with Southern Research Institute Sue Dr. Reddy's Laboratories and DRL Inc. for Infringing Upon the Patent of its Cancer Drug, Clolar
Nov 23 13
Genzyme Corporation along with Southern Research Institute (SRI) has sued Dr. Reddy's Laboratories Ltd. (DRL) for infringing upon the patent of its cancer drug, Clolar. DRL and its US subsidiary DRL Inc. have been sued by Genzyme and SRI in the US District Court for the District of New Jersey after they filed an abbreviated new drug application (ANDA) with the United States Food and Drug Administration (USFDA) seeking approval to market Clofarabine in the injectable form, which is a generic version of the drug, before the expiration of its patent on January 14, 2018. According to Genzyme, the patent (number 5,661,136) belongs to Southern Research and it (Genzyme) holds exclusive rights to market Clolar and the two companies would be substantially and irreparably harmed if DRL is not restrained from launching the copycat version of their patented drug in the US market. By notice letter dated September 25, 2013, DRL had notified the plaintiffs that it had submitted an ANDA to the FDA seeking approval to engage in the commercial manufacture, importation, use, and sale of 20mg/20ml Clofarabine injection, a generic version of Genzyme's Clolar drug.
Dr. Reddy's Laboratories Ltd. Reports Unaudited Consolidated Cash Flow Results for the Half Year Ended September 30, 2013
Nov 22 13
Dr. Reddy's Laboratories Ltd. reported unaudited consolidated cash flow results for the half year ended September 30, 2013. For the half year, on consolidated basis, the company reported that net cash from operating activities was INR 5,325 million compared to INR 7,214 million a year ago. Expenditures on property, plant and equipment was INR 5,611 million compared to INR 3,548 million a year ago. Expenditures on intangible assets was INR 287 million compared to INR 108 million a year ago.
PCB Gives Notice to Dr. Reddy’s Laboratories for Polluting Hussainsagar Lake
Nov 10 13
Even as environmentalists have been crying foul over the severe pollution of water bodies in the city, including Hussainsagar lake, the authorities have stumbled upon Dr. Reddy’s Laboratories (DRL) dumping untreated effluents into the Jeedimetla Nallah that ultimately leads to Hussainsagar lake. The company has been slapped with a show cause notice (no RR-II-103 /PCB/TFHYD /2013) by the AP Pollution Control Board (APPCB) for the same and asked to respond within 15 days as to why action should not be taken against it for causing severe pollution of Hussainsagar lake. According to the PCB, a night patrolling team of the board, during inspection of the Jeedimetla Industrial Estate on October 23, 2013, observed that untreated effluents generated from G-block of DRL’s Jeedimetla unit IV (located at Plot No 9/A, Phase III, IDA, Jeedimetla, Ranga Reddy district) were being discharged along with rainwater into Jeedimetla Nallah through open drains instead of being taken to the effluent treatment plant located in DRL’s Bollaram unit in Medak district.
Dr Reddy’s Laboratories to Launch Anti-Blood Clot Drug in Canada
Nov 4 13
Dr Reddy’s Laboratories is set to take its complex generic drug Fondaparinux sodium injection to Canada and two other emerging markets. Dr Reddy’s is expected to file for approval in up to four additional territories in 2014. Fondparinux is used for treatment and prevention of deep vein thrombosis and is sold under the brand name Arixtra by GlaxoSmithKline. Dr Reddy’s will manufacture the drug under licence using a patented process developed by Alchemia.