Dr. Reddy's gains after announcing re-launch of Zenatane

Dr. Reddy's Laboratories rose 2.49% to Rs 2786.70 at 9:26 IST after the company announced the re-launch of Zenatane in the US market.

The announcement was after market hours on Monday, 3 June 2019.

Meanwhile the S&P BSE Sensex was down 29.92 points or 0.07% at 40,237.70.

On BSE, 9373 shares were traded so far on the counter as against the 2-week average of 27,000 shares. The stock had hit a 52-week high of Rs 2,965.20 on 2 May 2019 and a 52-week low of Rs 1,950.30 on 6 June 2018.

Dr. Reddy's Laboratories announced the relaunch of Zenatane (lsotretinoin capsules), 10 mg, 20 mg, 30 mg and 40 mg, a therapeutic equivalent generic version of Accutane, which was approved by the US Food and Drug Administration (USFDA).

According to IQVIA Health, the Zenatane (lsotretinoin capsules, USP), 10 mg, 20 mg, 30 mg and 40 mg brand and generic had US sales of approximately $525 million MAT for the most recent twelve months ending in March 2019.

Dr. Reddy's Laboratories' consolidated net profit increased 67.4% to Rs 455.40 crore on 13.6% increase in net sales to Rs 4,016.60 crore in Q4 March 2019 as against Q4 March 2018.

Dr Reddy's Laboratories (DRL) is an integrated global pharmaceutical company.

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