L&T, Oil India, Dr Reddy's Labs, Wipro: Stocks to watch on Friday

Dr. Reddy's Laboratories, an Indian multinational pharmaceutical company based in Hyderabad, India, has announced the launch of its drug-free, non-invasive migraine management device named Nerivio in Europe. This device is designed to provide relief from migraine pain without the need for medications.

Nerivio is a transcutaneous single-pulse transcranial electrical nerve stimulation (t-tES) device, which is worn on the wrist and delivers gentle electrical pulses to the nerve that blocks pain signals from reaching the brain. The device is intended for the preventative treatment of migraines and is suitable for adults and adolescents aged 12 years and above.

The launch of Nerivio in Europe marks an important milestone for Dr. Reddy's Laboratories as it expands its product portfolio beyond pharmaceuticals into medical devices. The company has received the CE mark certification for Nerivio in Europe, which allows it to be marketed and sold in European countries.

Migraines are a common neurological condition characterized by recurring headaches that can cause significant disability and impact quality of life. According to the World Health Organization (WHO), migraines affect approximately 10% of the global population, with women being three times more likely to be affected than men. Despite the availability of various medications for migraine treatment, many people continue to seek alternative options due to side effects or inadequate relief from drugs.

Nerivio offers a non-pharmacological approach to managing migraines and has shown promising results in clinical trials. In a study published in the journal Cephalalgia, Nerivio was found to be effective in reducing the frequency and duration of migraines in patients who used the device for preventative treatment. The study also reported that Nerivio was well tolerated with minimal side effects.

The launch of Nerivio in Europe is expected to provide relief to millions of migraine sufferers who are looking for alternative treatment options. The device is now available for purchase in various European countries through authorized distributors and online platforms.

Dr. Reddy's Laboratories aims to leverage the success of Nerivio in Europe and explore opportunities for expanding its reach in other regions, including the United States and Asia. The company's entry into the medical device market is part of its strategic initiative to diversify its business and cater to the growing demand for innovative solutions in healthcare.

Investors interested in the Indian pharmaceutical and medical device sectors may want to keep an eye on Dr. Reddy's Laboratories as it continues to make strides in the global market with its innovative products and services. Other Indian companies in the same sector that are worth watching include Larsen & Toubro (L&T), Oil India, and Wipro Limited.

Larsen & Toubro (L&T) is a leading Indian engineering and construction conglomerate that has recently ventured into the healthcare sector by setting up a joint venture with Siemens Healthineers for manufacturing and marketing medical equipment in India. Oil India is an exploration and production company that has been making significant investments in the renewable energy sector and is expected to report its financial results for the quarter ended March 31, 2023, on April 13, 2023. Wipro Limited is an Indian information technology and consulting company that has been expanding its footprint in the healthcare sector through its subsidiary, Wipro GE Healthcare, which provides medical imaging and healthcare IT solutions.

Overall, the Indian pharmaceutical and healthcare sectors are poised for growth, and companies like Dr. Reddy's Laboratories, L&T, Oil India, and Wipro Limited are well positioned to capitalize on the opportunities in these markets. Investors looking for exposure to these sectors may want to consider investing in these companies based on their individual investment objectives and risk tolerance. However, it is essential to conduct thorough research and consult with financial advisors before making any investment decisions.