Dr Reddy's Lab up on overseas acquisition

DALAL STREET SPIKES

Dr Reddy's Laboratories surged 3 per cent to Rs 619.15 on the BSE after the company said it had acquired Italian generics firm Jet Generici Srl for an undisclosed amount.

The acquisition provides access to a product portfolio, a pipeline of registration applications, and a sales and marketing organisation, the company added.

The company has made this acquisition through its subsidiary, Reddy Pharma Italia SpA, which is engaged in building a pipeline of registrations since its incorporation.

The stock hit a high of Rs 630 and a low of Rs 595 during the day. The stock had a 52-week high of Rs 760 on January 2, 2008 and a 52-week low of Rs 501 on February 12, 2008.