Ranbaxy buys Ochoa's brand, stock pares gains

Ranbaxy slipped 7% from the day's high to Rs 217 and ended at Rs 221, down a per cent. A total of 706,627 shares changed hands at the counter today on the BSE.
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(Updated at 1036 hrs)

Ranbaxy has gained 3% on bagging marketing rights from Ochoa Labs.

The stock opened up Rs 2 at Rs 226. It soon surged 4.5% to a high of Rs 233. The stock is now trading up 3% at Rs 231. Around 163,899 shares have been traded on the BSE so far.

The company has informed the BSE that Ochoa Laboratories has given them the trademark, product dossiers and marketing rights for its complete range of dermatological and lifestyle products. In India, at present, the market size of dermatology segments is Rs 1,950 crore and it is growing rapidly at 11%.