On Tuesday, Dr. Reddy's Laboratories (DRL) stock jumped after the company announced the availability of a generic version of Nexavar pills in the United States. The medicine, also known as Sorafenib, is used to treat specific types of cancers of the liver, kidneys, and thyroid.
According to a regulatory filing, the US Food and Drug Administration (FDA) approved the company's introduction of Dr Reddy's Sorafenib
tablets, USP 200 mg.
On the BSE, the DRL stock rose by Rs54, or 1.3%, to Rs4,322.2 a share. The growth in DRL stock occurred amid violent market swings, as investors remained wary about the effects of soaring prices and the global economy.
Dr. Reddy's Sorafenib pills come in bottles with a 120-count. In a market worth $70 million for the medicine, analysts foresee little competition.
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