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NEW AMERICA REVISITED Good News, Bad News For Drug Maker.(THE NEW AMERICA)(NEW AMERICA REVISITED)
Byline: Marilyn Alva and Steve Watkins
Sales were anything but depressed for Dr. Reddy's Laboratories Ltd. (New America, Nov. 9) in the fiscal third quarter ended Dec. 31.
Thanks in part to its 40-milligram generic version of the anti-depressant Prozac, sales for the India-based drug maker rose 70% from a year earlier to $92.2 million, the company announced Wednesday.
Fluoxetine, the compound used in Prozac, generated $21 million. Branded formulations accounted for the rest.
That's the good news.
The bad news: the company's six months of exclusivity for the 40 mg fluoxetine dosage ended Wednesday. That means other generics can enter the 40 mg market, pushing pricing and, ultimately, Dr. Reddy's revenue down.
"There will be ongoing sales, but they'll certainly be drastically reduced," said Cameron Reid, president of Dr. Reddy's U.S. operations.
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