Dr. Reddy’s Laboratories Ltd. (RDY - Analyst Report) announced the launch of its therapeutic equivalent generic version of Lupin Atlantis Holdings, S.A. Corp.’s Antara capsules (43 mg and 130 mg).
Antara is indicated as an adjunctive therapy to diet to reduce elevated total cholesterol (total-C), low density lipoprotein cholesterol (LDL-C) and apolipoprotein B (apo B). Antara also increases high density lipoprotein cholesterol (HDL-C) in adult patients with primary hypercholesterolemia or mixed dyslipidemia.
According to IMS Health, Antara and its generic versions generated U.S. revenues of approximately $74 million MAT (moving annual total) for the 12 months ending Feb 2014.
Revenues at Dr. Reddy’s Global Generics segment rose 41% to $475 million in the third quarter of fiscal 2014 ended Dec 31, 2013. Strong sales in North America and the emerging markets led to the upside. Strong sales of the generic versions of Vidaza, Dacogen, Aricept, Toprol XL and Depakote ER boosted segmental results.
Generics revenues increased in North America (76%), Russia and other CIS (Commonwealth of Independent States) markets (21%), rest of the world or RoW (35%) and India (5%). Revenues in India were, however, tempered by the new pricing policy. Revenues in Europe declined 4%.
During the third quarter of fiscal 2014, Dr. Reddy’s filed two abbreviated new drug applications (ANDAs) with the U.S. Food and Drug Administration (FDA). The company had 62 ANDAs pending approval with the FDA, of which 38 were Para IV filings and 8 were first-to-file at the end of the last reported quarter.
Dr. Reddy's carries a Zacks Rank #2 (Buy). Others stocks that look attractive include Salix Pharmaceuticals Ltd. , Impax Laboratories Inc. (IPXL - Snapshot Report) and Enanta Pharmaceuticals, Inc. (ENTA - Snapshot Report). Salix Pharma and Enanta carry a Zacks Rank #1 (Strong Buy) while Impax Labs carries a Zacks Rank #2.
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