Dr. Reddy’s Laboratories Launches Migraine Device in Europe, Shares Dip Slightly

12 Apr 2024 , 02:18 PM

Dr. Reddy’s Laboratories witnessed a slight decline in its share price during the opening trade on April 12, despite the launch of its migraine management device in Europe.  

At the time of writing, Dr. Reddy’s Laboratories was trading at ₹6,127.50 on the BSE, reflecting a 0.49% decrease.

The company announced the launch of the drug-free non-invasive migraine management wearable device, Nerivio, in Germany through its step-down subsidiary, betapharm.

This launch marks Dr. Reddy’s entry into digital therapeutics in Europe. Nerivio is both approved by the United States Food and Drug Administration (USFDA) and CE-mark certified in Europe.

Last year, Dr. Reddy’s entered an exclusive agreement with Theranica to market and distribute Nerivio in multiple markets.

On April 5, Dr. Reddy’s Laboratories and Bayer collaborated to market and distribute a second brand of Vericiguat in India, under the brand name Gantra. Vericiguat, a soluble guanylate cyclase (sGC) stimulator, is indicated for adults with symptomatic chronic heart failure with reduced ejection fraction.

Dr. Reddy’s Laboratories, headquartered in Hyderabad, is an Indian multinational pharmaceutical company founded by Kallam Anji Reddy. The company manufactures and markets over 190 medications, 60 active pharmaceutical ingredients (APIs), diagnostic kits, critical care, and biotechnology products. 

Dr. Reddy’s initially supplied to Indian drug manufacturers and later expanded its market to less-regulated regions before focusing on regulated markets like the US and Europe in the early 1990s.

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