Dr Reddy's in pink of health after launching drug

Dr Reddy's Laboratories rose 1.98% to Rs 2,375.50 at 12:15 IST on BSE after the company announced the launch of Sevelamer Carbonate Tablets, 800 mg in US.

The announcement was made on Saturday, 30 September 2017.

Meanwhile, the S&P BSE Sensex was up 229.97 points, or 0.74% to 31,516.50.

On the BSE, 35,235 shares were traded in the counter so far, compared with average daily volumes of 74,637 shares in the past one quarter. The stock had hit a high of Rs 2,415 and a low of Rs 2,355 so far during the day. The stock had hit a 52-week high of Rs 3,394.95 on 28 October 2016. The stock had hit a 52-week low of Rs 1,901.65 on 11 August 2017.

The large-cap company has equity capital of Rs 82.94 crore. Face value per share is Rs 5.

Dr Reddy's Laboratories announced the launch of Sevelamer Carbonate Tablets, 800 mg, a therapeutic equivalent of Renvela (sevelamer carbonate) Tablets approved by the United States Food & Drug Administration (USFDA) in the US market. Renvela is a trademark of Genzyme Corporation.

The Renvela brand and generic has US sales of around $1.88 billion for the most recent twelve months ended in July 2017, according to IMS Health.

On a consolidated basis, Dr Reddy's Laboratories' net profit declined 56.6% to Rs 66.60 crore on 2.5% rise in net sales to Rs 3315.90 crore in Q1 June 2017 over Q1 June 2016.

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

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