Dr. Reddy's Laboratories Ltd. (RDY - Analyst Report) recently announced the launch of its therapeutic equivalent generic version of Depakote ER.
Depakote ER is approved for the treatment of acute manic episodes associated with bipolar disorder and the prevention of migraine headaches. Depakote ER can be used alone or with other medicines to treat complex partial seizures in patients (≥10 years of age) and simple and complex absence seizures, with or without other seizure types.
According to IMS Health, Depakote ER and its generic versions generated U.S. revenues of approximately $194 million MAT (moving annual total) in the 12 months ending Jun 2013.
Revenues at Dr. Reddy’s Global Generics segment were up 15% to $368 million in the first quarter ended Jun 30, 2013. Strong sales in North America and emerging markets led to the growth at the Global Generics division. Generics revenues increased in North America (up 37%), Russia and other CIS (Commonwealth of Independent States) markets (up 8%), and the rest of the world, or RoW (up 12%).
During the first quarter of fiscal 2014, Dr. Reddy’s filed 2 abbreviated new drug applications (ANDAs) with the U.S. Food and Drug Administration (FDA). As of Jul 30, 2013, Dr. Reddy’s has 64 ANDAs pending approval with the FDA, of which 38 are Para IV filings and 8 are first-to-file.
Dr. Reddy's carries a Zacks Rank #4 (Sell). Currently, Actavis, Inc. (ACT - Analyst Report) looks more attractive with a Zacks Rank #2 (Buy). Other companies like Questcor Pharmaceuticals Inc. and Actelion Ltd. (ALIOF) look better positioned with a Zacks Rank #1 (Strong Buy).