Dr Reddy's launches drug-free migraine management device in Germany

Dr. Reddy's Laboratories on Wednesday after hours announced it has successfully launched its drug-free migraine management device Nerivio in Germany through its unit betapharm, the company said in an exchange filing filed on Wednesday, April 10.

Dr. Reddy’s also said Nerivio’s launch in Germany will be followed by launches in South Africa later this month, and subsequently in Spain and the United Kingdom.

Nerivio is a drug-free wearable device, that uses a Remote Electrical Neuromodulation (REN) mechanism for the prevention or treatment of migraine in adults and adolescents above 12 years of age. It was first launched in India in 2023 and is the first US FDA-approved REN device in India. It was launched under Reddy’s patient support programme called ‘M-Free’, which offers complete migraine care.

In 2023, the company entered into an exclusive agreement with Theranica for marketing and distribution of Nerivio in multiple markets. Theranica is a prescribed digital therapeutics company, which develops advanced neuromodulation devices for pain conditions like migraine.

M.V. Ramana, Chief Executive Officer, Branded Markets (India and Emerging Markets), Dr. Reddy’s said, “we believe this product meets a genuine unmet clinical need among migraine patients, and has the potential to reduce pill burden in migraine.”

Shares of the company are currently trading 0.34% higher at ₹6179.0 on NSE. They reached a 52-week high on 28 February at ₹6,505.90 and touched a 52-week low of ₹4,384.05 on May 19, 2023.

In its Q3FY24 results, the company announced a total income of ₹4330.6 crore as compared to ₹3,949 crore reported a year ago. In the same quarter, Dr. Reddy's Laboratories reported a net profit of ₹475.2 crore as against ₹324.6 crore in December 2022.