Capital Market Last Updated at September 7, 2021 14:04 IST
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The drug major on Tuesday announced the launch of minoxidil for women following first-ever approval in India for the treatment of female pattern hair loss.
Female pattern hair loss is the most common cause of hair loss in women and its prevalence increases with advancing age, often leading to psychological distress. Initial symptoms may develop during the teenage years and may lead to progressive hair loss with a characteristic pattern distribution.
The launch follows the first-ever approval of the additional indication by the Central Drugs Standard Control Organization (COSCO) in India for the use of Minoxidil topical solution USP 2% and 5% for treatment of FPHL. While Minoxidil topical solution has been approved in India for the treatment of alopecia in men (male pattern baldness), there are presently no other drugs approved for the treatment of FPHL in India.
M.V. Ramana, CEO of Branded Markets (India & Emerging Markets) said, "This approval marks the first-ever given to a first-line treatment option for female pattern hair loss, and truly fulfils a hitherto unmet need. Our Minoxidil topical solution (Mintop 2% & Mintop Eva 5%) for women will be widely available in the country, and through this launch, we hope to bring relief and comfort to patients diagnosed with FPHL in India."
Dr Reddy's Laboratories is an integrated pharmaceutical company. Through its three businesses - pharmaceutical services & active ingredients, global generics and proprietary Products.
The company's consolidated net profit declined by 36% to Rs 380.40 crore on a 11.4% rise in net sales to Rs 4,919.40 crore in Q1 FY22 over Q1 FY21.
Shares of Dr. Reddy's were down 0.14% at Rs 4,908.2 on BSE.
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