Pharma major Dr Reddy's Laboratories on Wednesday said it has launched a drug to treat insomnia in the US market, following approval by the Food & Drug Administration (FDA).
The company has started selling 1 mg, 2 mg and 3 mg tablets of Eszopiclone, a generic version of Lunesta, a sedative drug that is used for the treatment of insomnia.
Sunovion Pharmaceuticals Inc is the owner of the Eszopiclone drug.
According to IMS Health, Lunesta tablets and generics combined had US sales of about USD 887 million for the 12 months ended January 2014, Dr Reddy's said in a filing with the stock exchanges.
Dr Reddy's said 1 mg tablets are available in bottle counts of 30, while 2 mg and 3 mg tablets will be sold in bottle counts of 100.
Dr Reddy's shares traded at Rs 2,542.95 on the BSE in afternoon trade, down 1.54 per cent.
Glenmark Generics Inc, a subsidiary of Glenmark Generics Ltd, said in a separate statement that it has been granted final abbreviated new drug approval from the FDA for Eszopiclone tablets.
"Glenmark will commence distribution of the product immediately. The approval is for the 1 mg, 2 mg and 3 mg tablets," Glenmark said in the statement.
Glenmark shares quoted at Rs 582.40 on the BSE, up 0.18 per cent.