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On Tuesday, March 19, 2024, Dr. Reddy’s Laboratories stated in an exchange filing that the company had launched Versavo (bevacizumab) in the UK market. This is the first biosimilar product of Dr. Reddy’s to be approved and launched in the UK market.
The Indian multinational pharmaceutical company informed that Versavo is prescribed for various cancer treatments, which include advanced non-squamous non-small cell lung cancer, metastatic colorectal cancer, metastatic renal cell carcinoma, recurrent glioblastoma, advanced cervical cancer, metastatic breast cancer and ovarian cancer.
Versavo is available in strengths of 100 mg and 400 mg single-use vials.
In 2019, the company launched Versavo in India and later in other countries, such as Thailand, Nepal, Jamaica and Ukraine. In Colombia, the product was launched under the brand name Persivia.
The Global Head of Biologics at Dr. Reddy’s, Jayanth Sridhar, said that the launch of Versavo in a highly regulated market highlights their capability for global clinical development of high-quality biosimilar products. He further added that this launch reinforces their commitment to bringing more biosimilar and other critical biological products to meet the unmet needs of patients and strengthen the company’s focus on oncology.
Bevacizumab is the first antiangiogenic therapy established to slow metastatic disease progression in patients with cancer.
Dr. Reddy’s biosimilar business is part of the company’s key strategic initiatives. It is expected to drive both short-term and long-term growth of the company. In the last 25 years, Dr. Reddy’s team of Biologics has developed into a fully integrated organisation with strong capabilities in the development, manufacture and commercialisation of a set of biosimilar products in immunology and oncology.
Their product portfolio includes 6 commercial products marketed in India, with some products marketed in over 25 other countries. In July 2023, the USFDA, EMA and MHRA accepted their proposed rituximab biosimilar application for review.
Dr. Reddy’s Laboratories Ltd is a prominent India-based pharmaceutical company. They provide a wide range of products and services, which include Custom Pharmaceutical services (CPS), Active Pharmaceutical Ingredients (APIs), biosimilars generics and differentiated formulations.
On Tuesday, March 19, 2024, the share price of Dr. Reddy’s Laboratories opened at ₹6,335.00, touching the day’s low at ₹6,162.55, as of 2:23 PM on the NSE.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
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