Dr Reddys Laboratories Ltd Share Price – NSE  /  BSE

Pharmaceuticals, Mid Cap

Dr. Reddy's Laboratories announced the roll-out of its condition management programme DailyBloom™ IBS, India's first integrated care plan for Irritable Bowel Syndrome (IBS). The programme is based on extensive research and is enabled by a mobile application developed in-house. DailyBloom™ IBS focuses on a comprehensive care plan that includes diet management, psychological and physical wellness support for patients with IBS. Dr. Reddy's has launched the programme on 'World IBS Day', a day that aims to increase awareness of the IBS condition, discuss misconceptions, challenges and even stigma attached to it.

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Nerivio is a prescription-based non-invasive device intended for acute and prophylactic (preventive) treatment of migraine with or without aura for adults and adolescents aged 12 years and above

The launch marks the company’s entry into digital therapeutics in Europe. Nerivio is approved by the United States Food and Drug Administration (USFDA), and is CE-mark certified in Europe.

The pharmaceutical company will launch the product in South Africa later this month and subsequently in Spain and the UK.

Last year, the company had entered into an exclusive agreement with Theranica, a prescribed digital therapeutics company developing advanced neuromodulation devices for migraine and other pain conditions, for the marketing and distribution of Nerivio in multiple markets.

M.V. Ramana, chief executive officer, Branded Markets (India and Emerging Markets), Dr. Reddy’s, said, At a time when conversations on migraine focus on migraine5 as a women’s health issue, relief from migraine through the use of technology and drug-free solutions, challenges associated with managing migraine during the child-bearing age, and distinguishing migraine from headache, we are happy to take our clinically-proven first digital therapeutics product, Nerivio, to patients in our identified markets.

Nerivio has had an encouraging start in India, with recommendation from neurologists in India and bringing relief to patients living with migraine. We believe this product meets a genuine unmet clinical need among migraine patients, and has the potential to reduce pill burden in migraine.”

Dr Reddy's Laboratories is engaged in providing medicines. The firm operates in three segments: global generics, pharmaceutical services and active ingredients (PSAI) and proprietary products.

The drug major's consolidated net profit increased 10.57% to Rs 1,378.9 crore on 6.57% rise in revenues to Rs 7,214.8 crore in Q3 FY24 over Q3 FY23.

The scrip fell 0.14% to ends at Rs 6159.40 on Wednesday, 10 April 2024. The domestic market is closed today on account of Ramadan.

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Dr. Reddy's Laboratories announced the launch of the drug-free non-invasive migraine management wearable device Nerivio® in Germany through its step-down subsidiary betapharm. The launch marks the company's entry into digital therapeutics in Europe. Nerivio® is approved by the United States Food and Drug Administration (USFDA), and is CE-mark certified in Europe.

Nerivio® was presented in 2023 by Dr. Reddy's at the DGN Kongress organised by the German Association of Neurology in Berlin, and the 17th European Headache Congress held in Barcelona, Spain. Dr. Reddy's will present and launch Nerivio® during the Neurological Association of South Africa annual congress on April 17, 2024, in the presence of Dr. Stewart Tepper, Professor of Neurology at the Geisel School of Medicine - Dartmouth, and Vice President, New England Institute for Neurology and Headache. In May 2024, Nerivio® will also be presented at International Headache Society 2024 iHEAD meeting in Berlin, Germany. In subsequent months, Dr. Reddy's will launch Nerivio® in Spain and the UK.

Last year, Dr. Reddy's entered into an exclusive agreement with Theranica, a prescribed digital therapeutics company developing advanced neuromodulation devices for migraine and other pain conditions, for the marketing and distribution of Nerivio® in multiple markets.

Dr. Reddy's launched Nerivio® in India in 2023. In India, Nerivio® is supported by Dr. Reddy's unique patient support programme called 'M-Free'. The programme is a comprehensive support system that enhances and streamlines the journey of the patients. M-Free includes services such as onboarding and counseling of patients, device demonstrations, doorstep delivery, flexible payment options, informative content, and dedicated customer care to help patients get the most out of the device. With lifestyle modification as a key recommendation for better management of migraine, M-Free awareness program offers a suite of value-add services such as nutritionist consultation, yoga and meditation sessions with certified specialists for holistic medicine free migraine management.

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In September 2022, Bayer launched the patented drug vericiguat under the brand name Verquvo in India.

Under the terms of this agreement, Bayer has granted non-exclusive rights to Dr. Reddy’s to market the aforementioned drug under the brand name Gantra.

Vericiguat, a soluble guanylate cyclase (sGC) stimulator, in India, is indicated, along with guideline-based medical therapy, in adults with symptomatic chronic heart failure with reduced ejection fraction (less than 45%), following a recent event of worsening heart failure which required hospitalization or outpatient intravenous (IV) diuretics.

Vericiguat works on a pathway not currently targeted by existing heart failure treatments and can reduce the combined risk of cardiovascular death and heart failure hospitalization in such patient.

India has between 8-10 million people with heart failure, making it one of the largest populations with this condition.

Heart failure is a major public health issue affecting more than 8-10 million people in India. The average age of an Indian heart failure patient is a decade younger than their Western counterparts being 55 – 60 years.

Despite the substantially younger age of patients with HF in India, the 5-year mortality rate is 60%. In patients with chronic heart failure, with reduced ejection fraction (less than 45%) an event of worsening heart failure can happen at any stage. 90% of patients who suffer from worsening heart failure are not in the advanced stage of chronic heart failure.

HF remains the commonest cardiac cause of hospitalization in India with worsening heart failure events being one of the most important causes of death in heart failure patients.

M.V. Ramana, chief executive officer, branded markets (India and Emerging Markets), Dr. Reddy’s, said: Strengthening our chronic therapy portfolio in India continues to be a focus area for us. Vericiguat is a first-in-class sGC stimulator indicated for adults with symptomatic, chronic HF and ejection fraction less than 45% following worsening heart failure.

The addition of Vericiguat bolsters our heart failure management portfolio that includes Cidmus, Daplo and beta blockers. The partnership with Bayer is part of Dr. Reddy’s continuous efforts to make innovative medicines available to patients in India through strategic collaborations.

We will use our strengths in marketing and distribution to widen access to this novel treatment in metros and beyond into tier-I and tier-II towns in India.”

Dr Reddy's Laboratories is engaged in providing medicines. The firm operates in three segments: global generics, pharmaceutical services and active ingredients (PSAI) and proprietary products.

The drug major's consolidated net profit increased 10.57% to Rs 1,378.9 crore on 6.57% rise in revenues to Rs 7,214.8 crore in Q3 FY24 over Q3 FY23.

The scrip had risen 0.55% to end at Rs 6175.10 on the BSE on Friday.

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