Dr Reddy's Laboratories shares gain on Zenatane launch

Written by Reuters | Updated: Apr 1 2013, 16:07pm hrs
DrugsDr Reddy's gains after company said it launched a generic version of Accutane drug. (Reuters)
Shares in Dr Reddy's Laboratories Ltd gain 2.1 percent after the company on Thursday said in a statement that it launched Zenatane, a generic version of Accutane drug, following its approval by the United States Food & Drug Administration (USFDA).

* The company added that the drug had $309 million in sales for the most recent twelve months ending January 2013, according to IMS Health.

* "Assuming an incremental 20-25 percent price drop and 20 percent market share, this could be $50 million per year revenue opportunity for Dr Reddy's," Morgan Stanley said in a report.