Dr Reddy’s Laboratories is trading higher by 2% at Rs 2,259, extending it’s nearly 6% rally in past two days, after the pharmaceutical company said it has launched its generic Lamotrigine extended-release tablets, used for treating epilepsy, in the American market following approval by the US health regulator.
The stock opened at Rs 2,220 and touched a record high of Rs 2,265 on NSE. A combined 188,831 shares have changed hands on the counter till 1451 hours on NSE and BSE.
The company has launched Lamotrigine extended-release tablets in the US market on June 25, 2013, after its abbreviated new drug application (ANDA) was approved by the United States Food and Drug Administration (USFDA), Dr Reddy's said in a filing with BSE.
According to IMS Health data, the Lamictal XR brand and its generic verision had combined sales of approximately $300.5 million in the United States for the twelve months ended April 2013.
Analyst at Anand Rathi Research are positive regarding the medium-term growth outlook following the company’s strong product pipeline for the US market and potential gain from the rupee depreciation as over 80% of its revenue arises from exports.
The stock opened at Rs 2,220 and touched a record high of Rs 2,265 on NSE. A combined 188,831 shares have changed hands on the counter till 1451 hours on NSE and BSE.
The company has launched Lamotrigine extended-release tablets in the US market on June 25, 2013, after its abbreviated new drug application (ANDA) was approved by the United States Food and Drug Administration (USFDA), Dr Reddy's said in a filing with BSE.
According to IMS Health data, the Lamictal XR brand and its generic verision had combined sales of approximately $300.5 million in the United States for the twelve months ended April 2013.
Analyst at Anand Rathi Research are positive regarding the medium-term growth outlook following the company’s strong product pipeline for the US market and potential gain from the rupee depreciation as over 80% of its revenue arises from exports.
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