Dr Reddy's to sell Quetiapine in NZ

Dr Reddy's Laboratories Ltd has received permission to sell Quetiapine in New Zealand from Pharmac, the drug-funding agency of New Zealand Government. Quetiapine is a drug indicated for treatment of manic and depressive dimensions of bipolar disorder. The drug would be introduced in New Zealand market from October 1 and Pharmac would fully fund (completely reimburse the expenses incurred) the drug made Dr Reddy’s.

Dr Reddy's would be the third player selling the drug, apart from the two existing suppliers including AstraZeneca. During last financial year, the company earned $7 million revenue from New Zealand. Dr Reddy's was actively working in New Zealand market and had plans to increase its presence in the coming months.