The stock price of Dr.Reddy’s soared after it announced the commercial launch of 2-Deoxy-D-Glucose (2-DG) used to treat Covid patients. Earlier in the morning around 09:44 hours, it was trading at Rs 5,352.10, up by Rs 40.75 , i.e, 0.77 percent. During the day, It touched an intraday high of Rs 5,381.85 and an intraday low of Rs 5,312.65.
The company will supply this oral drug to major Government as well as private hospitals across India.
Satish Reddy, Chairman, Dr Reddy’s, said,” 2-DG is yet another addition to our COVID-19 portfolio that already covers the full spectrum of mild to moderate and severe conditions and includes a vaccine. We are extremely pleased to have partnered with DRDO in our collective fight against the COVID-19 pandemic.”
It further said in the statement that ,”Dr Reddy’s will supply to major government as well as private hospitals across India. In the initial weeks, the Company will make the drug available in hospitals across metros and Tier 1 cities, and subsequently expand coverage to the rest of India.”
The company has capped the maximum selling price at ₹ 990, with a discounted rate offered to government institutions.
The Company during the launch said, “2-DG is an oral drug. It can be administered only upon prescription and under the supervision of a qualified physician to hospitalised moderate to severe COVID-19 patients as an adjunct therapy to the existing standard of care.” On May 9, the drug was approved for emergency use in COVID-19 patients by DCGI.