MUMBAI: Pharma major Dr Reddy's Laboratories on Friday announced its foray into the topical (skin) steroids market with the launch of 'Ultravex' (Halobetasol).
Ultravex, a formulation based on Halobetasol, has been launched nationwide in June to cater to the topical steroid market, which is the second most prescribed category by dermatologists with nearly 2.5 crore units sold every year, Dr Reddy's informed the Bombay Stock Exchange.
While Halobetasol is used to treat skin conditions like eczema, dermatitis, allergies, rash; DRL's offering can be used in the treatment of psoriasis and chronic dermatoses.
The launch is in line with the company's strategy to foray into a mass speciality area which has an estimated market size of Rs 100 crore.
Shares of DRL were last trading at Rs 635, down 1.76 per cent on the BSE.
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