Dr Reddy's Laboratories, an integrated global pharmaceutical company, announced the launch of Ziprasidone Mesylate for injection, 20 mg (base)/ml single-dose Vials, the therapeutic generic equivalent of Geodon (ziprasidone mesylate) Injection, 20 mg/ml, approved by the U.S. Food and Drug Administration (USFDA).

''We're pleased to bring the first generic of Ziprasidone Mesylate for Injection to market for patients who will benefit from access to affordable medicine. With every new product launch, we believe we are making healthcare more affordable by delivering value to the pharmacy,''explains Marc Kikuchi, Chief Executive Officer, North America Generics, Dr. Reddy's Laboratories.

''This is a great addition to our injectable offering in the U.S. market as we continue to augment our portfolio and drive growth within the hospital segment,'' he added.

The Geodon brand had U.S. sales of approximately $21.8 million MAT for the most recent twelve months ending in January 2020 according to IQVIA Health. 

Shares of the company declined Rs 158.65, or 5.61%, to settle  at  Rs 2,667.75.  The total volume of shares traded  was  14,439 at  the BSE (Wednesday).