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 (ttES) device, which is worn on the wrist and delivers mild electrical pulses to the nerve located in the wrist. These pulses are believed to block the pain signals from reaching the brain and help in reducing the severity and frequency of migraines.

The device is approved by the European Union's regulatory agency, the European Medicines Agency (EMA), for the prevention of migraines in adults. It is the first ttES device to receive such approval in Europe for this indication.

The launch of Nerivio marks a significant milestone for Dr. Reddy's Laboratories as it diversifies its product portfolio beyond pharmaceuticals and enters the medical devices market. The company has collaborated with BioFit Technologies, a US-based medical device company, for the development and commercialization of Nerivio in Europe and other markets outside the US.

Migraines are a common neurological disorder characterized by recurring headaches that can cause significant pain, disability, and impact the quality of life of affected individuals. According to the World Health Organization (WHO), migraines affect approximately 10% of the global population and are more common in women than men.

The availability of Nerivio in Europe provides an alternative treatment option for migraine sufferers who may not respond well to or cannot take medications due to side effects or other reasons. The device is easy to use and can be worn discreetly during daily activities, making it a convenient option for managing migraines.

Dr. Reddy's Laboratories' entry into the medical devices market with Nerivio is expected to boost the company's growth prospects and increase its revenue diversification. The stock of the company has been trading positively in recent days, and investors may keep a close eye on the company's performance in the coming days and weeks.

In addition to Dr. Reddy's Laboratories, other Indian companies such as Larsen & Toubro (L&T) and Wipro Limited are also in focus for various reasons. L&T is expected to announce its Q4 and full-year financial results for the fiscal year ending March 31, 2023, while Wipro is scheduled to release its Q1 financial results for the quarter ending March 31, 2023. Oil India Limited is another Indian company that may attract investor attention due to the ongoing volatility in crude oil prices and its impact on the company's financial performance.

Investors and traders are advised to conduct thorough research and analysis before making any investment decisions based on the information provided above or any other market data. The information provided is for educational purposes only and should not be considered as financial advice.