Dr. Shares of Reddy’s Laboratories announced an introduction of over-the-counter olopatadine hydrochloride ophthalmic solution PPP, 0.2 per cent and 0.1 per cent in the US market, after gaining 3.29 per cent to a high of Rs 4,783.90 on the BSE. Dr. on the National Stock Exchange. Shares of Reddy’s Laboratories gained 3.38 per cent to Rs 4,784. The premium on the call option of strike price of Rs 4,800 increased by a difference of Rs 64 to Rs 130.
The over-the-counter olopatadine hydrochloride ophthalmic solution is equivalent to USP, 0.2 per cent and 0.1 per cent of Novartis’s pataday and is indicated for temporary relief of itchy eyes caused by pollen, ragged, grass, animal hair, and hair. The drug release company of Hyderabad said in a press release that olopatadine hydrochloride ophthalmic solution USP, 0.1 percent is also indicated for temporary relief of red eyes.
“This launch marks Dr. Reddy’s entry into the OTC eye care space, and is a testament to our deep capabilities in bringing the store-brand equivalent of the RX-to-OTC switch to the US market,” said Mark Kikuchi, CEO said. , Generics of North America, dau. Reddy’s Laboratories.
The Pataday brand had US sales of about $ 31 million, which was added by Dr. Reddy’s Labs since its launch in March 2020, according to IRi.
As of 12:44 pm, the stock of Dr Reddy’s Labs was up 2.63 percent at Rs 4,752, down 0.73 percent in the Sensex.