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Dr Reddys Laboratories Ltd gained for a third straight session today. The stock is quoting at Rs 1356.8, up 2.35% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is down around 0.76% on the day, quoting at 23768.69921875. The Sensex is at 78513.49, down 0.89%. Dr Reddys Laboratories Ltd has gained around 13.51% in last one month.
Meanwhile, Nifty Pharma index of which Dr Reddys Laboratories Ltd is a constituent, has gained around 4.3% in last one month and is currently quoting at 22697.9, down 0.1% on the day. The volume in the stock stood at 46.46 lakh shares today, compared to the daily average of 22.23 lakh shares in last one month.
The benchmark December futures contract for the stock is quoting at Rs 1350.35, up 2.44% on the day. Dr Reddys Laboratories Ltd is up 22.14% in last one year as compared to a 11.83% jump in NIFTY and a 39.64% jump in the Nifty Pharma index.
The PE of the stock is 23 based on TTM earnings ending September 24.
Dr Reddys Laboratories announced the launch of Toripalimab in India.
Toripalimab is a New Biological Entity (NBE). It is the only immuno-oncology drug approved by various regulatory authorities around the world such as the United States Food and Drug Administration (USFDA), European Medicines Agency (EMA), Medicines and Healthcare products Regulatory Agency (MHRA), and others for the treatment of adults with recurrent or metastatic nasopharyngeal carcinoma (RM-NPC).
In 2023, Dr. Reddy's entered into a license and commercialisation agreement with Shanghai Junshi Biosciences Co. Ltd for Toripalimab. Under this agreement, Dr. Reddy's obtained exclusive rights to develop and commercialise Toripalimab in 21 countries including India, South Africa, Brazil and various countries in Latin America. Additionally, the agreement allows Dr. Reddy's to expand the scope of the license to cover Australia, New Zealand and nine other countries.
With this launch by Dr. Reddy's, India becomes the third country in the world after China and the United States to receive access to this next generation PD-1 inhibitor. Dr. Reddy's will market it under the brand name Zytorvi® in India.
The standard of care for RM-NPC in India before Toripalimab was chemotherapy (gemcitabine and cisplatin). Toripalimab is indicated as first-line treatment of adults with metastatic or recurrent locally advanced NPC in combination with gemcitabine and cisplatin. This combination has shown a 48% reduction in risk of progression or death. Additionally, Toripalimab has also been approved as monotherapy for the treatment of adults with recurrent unresectable or metastatic NPC with disease progression on or after platinum-containing chemotherapy.
Toripalimab is the only immuno-oncology drug approved by various regulatory authorities around the world such as the United States Food and Drug Administration (USFDA), European Medicines Agency (EMA), Medicines and Healthcare products Regulatory Agency (MHRA), and others.
In 2023, Dr. Reddy’s entered into a license and commercialisation agreement with Shanghai Junshi Biosciences Co. Ltd for Toripalimab.
Under this agreement, Dr. Reddy’s obtained exclusive rights to develop and commercialise Toripalimab in 21 countries including India, South Africa, Brazil and various countries in Latin America.
Additionally, the agreement allows Dr. Reddy’s to expand the scope of the license to cover Australia, New Zealand and nine other countries.
With this launch by Dr. Reddy’s, India becomes the third country in the world after China and the United States to receive access to this next generation PD-1 inhibitor. Dr. Reddy’s will market it under the brand name Zytorvi in India.
The standard of care for RM-NPC in India before Toripalimab was chemotherapy (gemcitabine and cisplatin). Toripalimab is indicated as first-line treatment of adults with metastatic or recurrent locally advanced NPC in combination with gemcitabine and cisplatin.
Additionally, Toripalimab has also been approved as monotherapy for the treatment of adults with recurrent unresectable or metastatic NPC with disease progression on or after platinum-containing chemotherapy.
According to GLOBOCAN 2022 statistics, the number of newly diagnosed NPC cases in 2022 exceeded 120,000 worldwide. In India, there were 6,519 newly diagnosed cases of NPC in 20224.
M.V. Ramana, chief executive officer, Branded Markets (India and Emerging Markets), Dr. Reddy’s, said: 'The launch of Toripalimab is a significant milestone for patients diagnosed with nasopharyngeal carcinoma (NPC) in India.
NPC is a rare form of head and neck cancer. However, the prognosis of the disease for patients in advanced stages is poor, and India is among the top five countries in the world in terms of disease burden.
As the next generation PD-1 inhibitor, Toripalimab has demonstrated superior outcomes for RM-NPC versus standard of care, thereby meeting a significant unmet need for patients with NPC in India.'
Dr Reddy's Labs is engaged in providing medicines. The firm operates in three segments: global generics, pharmaceutical services and active ingredients (PSAI) and proprietary products.
The company’s consolidated net profit declined 15.3% to Rs 1255.70 crore despite of 16.5% jump in revenue from operations to Rs 8016.10 crore in Q2 FY25 over Q2 FY24.
The scrip shed 0.17% to currently trade at Rs 1198.45 on the BSE.