Dr. Reddy’s, Theranica enter strategic license and supply agreement

11 Jan 2023 , 02:27 PM

Theranica, a digital therapeutics company based in Israel, has announced a strategic license and supply agreement with Dr. Reddy’s Laboratories Ltd. for the exclusive marketing and distribution of its FDA-approved Nerivio in India, subject to regulatory approval.

Nerivio is a migraine treatment that is worn and stimulates the body’s pain receptors to relieve acute and chronic migraine pain.

Dr. Reddy’s will be in charge of obtaining regulatory approval for Nerivio in India, after which it will exclusively market the product, which is manufactured and supplied by Theranica.

The agreement includes licensing fees for the exclusive marketing rights to Nerivio in India. While the agreement only applies to India, the companies will continue to discuss expanding to additional territories outside of the United States and China, according to the release.

Nerivio is the first FDA-approved, prescription-only, drug-free wearable device for the acute treatment of episodic and chronic migraine in people aged 12 and up.

Nerivio uses remote electrical neuromodulation (REN) to activate an endogenous descending pain inhibition mechanism known as conditioned pain modulation (CPM), which aborts or alleviates migraine headaches and associated migraine symptoms when worn on the upper arm.

At around 2.25 PM, Dr Reddy’s stock was trading at Rs4,250.70 per piece, down by 0.89% against the previous close of Rs4,288.70 on NSE. The counter touched an intraday high and low of Rs4,320 and Rs4,244.40 respectively.

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