Dr. Reddy's Laboratories Ltd. (RDY - Analyst Report) recently announced the launch of its therapeutic equivalent generic version of GlaxoSmithKline plc's (GSK - Analyst Report) Lamictal XR (lamotrigine) extended-release tablets (25 mg, 50 mg, 100 mg, 200 mg, 300 mg) in the US.
The launch followed the approval by the US Food and Drug Administration (FDA) of Abbreviated New Drug Application (ANDA) submitted by the company for Lamictal XR.
Lamictal XR is used in combination with other therapies for treating primary generalized tonic-clonic seizures and partial onset seizures in patients with a minimum age of 13 years.According to IMS Health, Lamictal XR (branded and generic version both) generated US revenues of approximately $300.5 million MAT (moving annual total) for the last 12 months ending Apr 2013.
Dr. Reddy's boasts of a strong generic product portfolio. Revenues at the Global Generics segment were up 17.5% to $1.5 billion for the fiscal year 2013 (ended Mar 31).
Strong sales in North America and emerging markets were primarily responsible for the growth displayed by the Global Generics division. Generics revenue increased in North America (up 19%), Russia (up 27%), other CIS (Commonwealth of Independent States) markets (up 28%), India (up 13%) and the rest of the world/RoW (up 42%).
In Jan 2013, Wockhardt Ltd., an Indian company, launched the generic version of Lamictal XR in the US in 25mg, 50mg, 100mg, 200mg and 300mg extended release tablets.
Dr. Reddy's carries a Zacks Rank #3 (Hold) while GlaxoSmithKline carries a Zacks Rank #4 (Sell). Currently, companies like Santarus, Inc. and Salix Pharmaceuticals Ltd. (SLXP - Analyst Report) look more attractive in the pharma space with a Zacks Rank #1 (Strong Buy).