Laurus Labs Ltd. (BSE: 540222, NSE: Lauruslabs, ISIN: INE947Q01010), a leading research and development driven pharmaceutical company along with its exclusive distribution partner Rising Pharmaceuticals, a Rising Pharma Holdings Inc. company, announce the launch of the generic version of Lyrica®, (pregabalin) Capsules, in all eight commercially available strengths (25 mg, 50 mg, 75 mg, 100 mg, 150 mg, 200 mg, 225 mg, & 300 mg) in US market. Rising recently received the final approval from the U.S. Food and Drug Administration (FDA) for the Abbreviated New Drug Application (ANDA).
Pregabalin Capsules are indicated for management of neuropathic pain associated with diabetic peripheral neuropathy, for the management of postherpetic neuralgia, for adjunctive therapy for the treatment of partial onset seizures in patients 4 years of age and older, for the management of fibromyalgia, and for the management of neuropathic pain associated with spinal cord injury. The product should be taken only as prescribed. Pregabalin Capsules and had U.S. sales of approximately $5,497 million for the 12 months ending March 2019, according to IMS Health.
"Laurus Labs is a fully integrated pharmaceutical company, backed by the state of the art manufacturing facilities in Visakhapatnam, Andhra Pradesh. We are happy to develop and manufacture the Pregabalin capsules for our exclusive distribution partner Rising Pharmaceuticals in US. Currently we have 5 billion units per year capacity which can be expanded to 8 million units per year based on the demand. As we move forward in the FDF segment backed by our strong API manufacturing facilities, with strategic partnerships in place, we will strengthen our portfolio for driving long-term, sustainable growth by leveraging our partnerships and global presence," said Dr. Satyanarayana Chava, Founder & CEO, Laurus Labs.
"The commercialization of Pregabalin Capsules is one of the largest volume launches for the company this year and will provide a cost effective treatment option for people living with debilitating neuropathic pain conditions," said Vimal Kavuru, Chief Executive Officer for Rising Pharmaceuticals.
Rising Pharmaceuticals sells generic prescription products and over-the-counter pharmaceutical products under the Rising label to leading wholesalers, chain drug stores, distributors and mass merchandisers.
Shares of Laurus Labs Ltd was last trading in BSE at Rs.350.4 as compared to the previous close of Rs. 350.05. The total number of shares traded during the day was 359 in over 25 trades.
The stock hit an intraday high of Rs. 351.05 and intraday low of 350. The net turnover during the day was Rs. 125705.