Shares of Dr. Reddy’s Laboratories and Natco Pharma gained almost 2% and more than 4%, respectively on Thursday after the drugmakers announced the unveiling of a generic equivalent each of anti-cancer drug Revlimid (lenalidomide) capsules in Canada.
The unveiling followed Health Canada approving their products. Natco said its Nat-Lenalidomide was the first generic alternative to Revlimid to be approved by the regulator. Both Dr. Reddy’s Reddy-Lenalidomide and Natco’s product are available in 2.5 mg, 5 mg, 10 mg, 15 mg, 20 mg, and 25 mg strengths.
Dr. Reddy’s Laboratories Canada VP and GM Vinod Ramachandran and CEO of Natco Pharma (Canada) Inc Glenn Ikeda, in separate releases, sought to highlight how their products would provide access to affordable treatment for multiple myeloma patients in Canada.
While DRL shares closed 1.96% higher at ₹4,857.20, Natco ended the day with a 4.12% gain at ₹979.35.
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