Dr. Reddy’s Labs announced that it has launched the authorized generic version of GlaxoSmithKline’s Imitrex (Sumatriptan Succinate) tablets in the United States. Dr. Reddy’s is the first company to launch an authorized generic version of Imitrex tablets in the US market.
Imitrex, prescribed for migraine attacks, had U.S. sales of $1.3 bn in 2007 as per IMS. This launch is expected to drive 25% sales growth for Dr Reddy’s for FY09E. This would help Dr Reddy’s to at least maintain the trend sales growth rate that we have seen in the first half of this year.
Sales from Imitrex could contribute around 3.2% of the 25% sales growth and any delay by Ranbaxy to launch the drug will drive Dr. Reddy’s sales higher.