New Delhi, Nov 27 (NationPress) Senores Pharmaceuticals and Dr. Reddy's Laboratories have unveiled the launch of ivermectin tablets USP, 3 mg, in the US market.
The tablets, aimed at treating worm infections, will be distributed by Dr. Reddy's. This product is the generic equivalent of Merck Sharp and Dohme’s Stromectol.
“We are excited to enhance our growth trajectory with the introduction of a product that faces limited competition. With our persistent focus on niche opportunities, we take pride in being the second generic to secure approval for this offering,” stated Swapnil Shah, Managing Director of Senores Pharmaceuticals Limited.
According to IQVIA, ivermectin tablets, 3 mg brand, and generic products had US sales nearing $20 million for the twelve months ending in September 2024.
These ivermectin tablets are utilized to address various parasitic infections impacting the intestinal tract, skin, and eyes.
Senores maintains long-standing marketing collaborations with notable foreign and Indian pharmaceutical firms, including Dr. Reddy’s Laboratories, to develop a comprehensive pipeline across various dosage forms and therapeutic areas.
In July, Senores submitted preliminary documents to the capital markets regulator Sebi to secure funding through an initial public offering (IPO).
The draft red herring prospectus (DRHP) outlined that the Ahmedabad-based company’s IPO consists of a fresh issue of shares valued at Rs 500 crore and an offer for sale (OFS) of up to 27 lakh equity shares by promoters and other selling shareholders.
The company excels in identifying, developing, and producing a broad spectrum of specialty, underserved, and complex pharmaceutical products, positioning itself as a preferred partner for select clients.
By leveraging data analytics, research, market assessment, and a seasoned management team, it strategically identifies commercially underserved molecules and brings them to both regulated markets, primarily the US and Canada, as well as emerging markets across 43 countries.
