Financial Daily from THE HINDU group of publications
Saturday, Jan 04, 2003
Financial Daily from THE HINDU group of publications Saturday, Jan 04, 2003 |
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Corporate
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Announcements Dr Reddy's ships generic Ibuprofen to America Our Bureau
HYDERABAD, Jan. 3 DR Reddy's Laboratories Ltd, the Hyderabad-based pharmaceuticals major has announced that it has commenced shipment of prescription Ibuprofen tablets in the dosages of 400mg, 600mg and 800mg to the US market. In a press release here on Friday, the New York Stock Exchange (NYSE) listed company said Ibuprofen is the first generic product to be marketed under the "Dr Reddy's" label. Ibuprofen is the generic version of Pharmacia's drug - Motrin, which had around $290-million sales in the US market alone. Dr Reddy's said it has ongoing agreements with marketing partners in the US to market its other generic and OTC products. Commenting on the development, the Dr Reddy's Executive Vice President, Generics, Mr Mark Hartman, said, "The Ibuprofen launch is a significant event in Dr Reddy's endeavour to build a strong and sustainable US generic business. Direct marketing of Ibuprofen Rx is the first step in building our commercial organisation in the US market and exemplifies the fact that we can manage our vertically integrated supply chain." Meanwhile, Dr Reddy's Laboratories informed the stock exchanges on Friday that it has not withdrawn the paediatric dosage of Nimesulide from the markets.
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