HYDERABAD, India - Dr. Reddy's Laboratories Ltd. (BSE: 500124, NSE: DRREDDY, NYSE: RDY), an Indian multinational pharmaceutical company, has announced the launch of its biosimilar product Versavo® in the United Kingdom. Versavo® is a biosimilar of the cancer drug Avastin®, designed to treat various types of cancers such as metastatic colorectal, non-squamous non-small cell lung cancer, and several others.
The introduction of Versavo® in the UK marks the first biosimilar product from Dr. Reddy's to be approved and launched in the region, expanding the company's global footprint. The biosimilar will be available in 100mg and 400mg single-use vials, offering an alternative treatment option for patients with cancer. This follows previous launches of Versavo® in India and other countries since 2019.
Dr. Jayanth Sridhar, Global Head of Biologics at Dr. Reddy's, commented on the significance of the launch, stating that it underscores the company's capability for global clinical development and commitment to addressing the unmet needs of patients through high-quality biosimilar products.
Versavo® works by targeting the human vascular endothelial growth factor (VEGF), which is instrumental in angiogenesis, the process of new blood vessel formation that tumors exploit for growth. By inhibiting this process, Versavo® aims to slow the progression of metastatic diseases in cancer patients.
Dr. Reddy's has been growing its biosimilars business as part of its strategic initiatives for long-term growth. With a portfolio of six commercial products and several others in the pipeline, the company is also increasing its manufacturing capacity to support its expansion plans. Notably, Dr. Reddy's has a proposed rituximab biosimilar application under review by various regulatory agencies, including the USFDA, EMA, and MHRA as of July 2023.
The information in this article is based on a press release statement from Dr. Reddy's Laboratories Ltd.
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