Dr. Reddy's Laboratories Ltd. and Natco Pharma Ltd. have launched a generic of a blood cancer pill in Canada.
The Canadian subsidiaries of both drugmakers have launched lenalidomide capsules, a generic of Revlimid, according to their exchange filings. That's used to treat multiple myeloma — a cancer of plasma cells and the second-most common form of blood cancer in patients who are not eligible for stem cell transplant.
Both Reddy-Lenalidomide and Nat-Lenalidomide capsules are available in 2.5 mg, 5 mg, 10 mg, 15 mg, 20 mg, and 25 mg strengths, the filing said.
Sales of Revlimid across the globe are worth $7.6 billion (Rs 55,540.1 crore), of which Canada accounts for $400-500 million (about Rs 2,923.2-3,654 crore), according to Abdulkader Puranwala, research analyst at Anand Rathi.
Glenn Ikeda, chief executive officer at Natco Pharma (Canada) Inc., and Vinod Ramachandran, vice president and general manager at Dr. Reddy's Lab Canada, in the filing, said their launches would provide an accessible treatment option and alleviate the financial burden by providing affordable medicines to myeloma patients, as well as public and private players.
According to Joe Kamel, registered pharmacist at Pure Health Pharmacy in Barrie, Ontario, as a self-administered capsule, lenalidomide is an important therapy for Canadian patients whose lives are critically impacted by a variety of myeloma-related events and symptoms.
Natco Pharma, in its filing, said about 7,400 Canadians are living with or are in remission from myeloma and every day, nine are diagnosed with the disease.
Shares of Dr. Reddy's and Natco Pharma were trading 2.52% and 4.62% higher as of 1 p.m. on Thursday compared with a 0.66% gain in the Nifty 50.
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