- 08 Sep 2022
- ICICIdirect Research
Dr Reddy’s launches gRevlimid capsules in USDRREDDY - 4464 Change: 17.20 (0.39 %)
News: Dr Reddy’s has launched Lenalidomide Capsules, generic of Revlimid in US. This will be a volume-limited launch in all the strengths and Dr Reddy’s is eligible for first-to-market, 180 days of generic drug exclusivity for gRevlimid capsules in 2.5 mg and 20 mg strengths.
View: Revlimid capsule in strengths of 5 mg, 10 mg, 15 mg and 25 mg had CY21 annual sales of ~ US$7825 million. Natco received approval for these strengths in March, 2022. With loss of exclusivity in September, 2022, many players are ready to enter the US market in this wave of the launch. Adittionally, Dr Reddy’s will launch 2.5 mg and 20 mg strengths with six months exclusivity, which is 10% of total Revlimid market in the US. We factor in the NPV of Rs 169 for gRevlimid opportunity for Dr Reddy's. Additionally, Dr Reddy’s has guided for 20-25 launches in the US. We expect the US business to grow at a CAGR of 8% to Rs 8766 crore over FY22-24E.