Dr Reddy's Lab gains after launching Finasteride Tablets in US market

The company made the announcement during trading hours today, 3 January 2013.

Meanwhile, the BSE Sensex was up 37.09 points or 0.19% at 19,751.33.

On BSE, 11,000 shares were traded in the counter as against average daily volume of 29,986 shares in the past one quarter.

The stock hit a high of Rs 1,882.75 and a low of Rs 1,847.60 so far during the day. The stock had hit record high of Rs 1912.90 on 11 December 2012. The stock had hit a 52-week low of Rs 1,528 on 19 June 2012.

The stock had underperformed the market over the past one month till 2 January 2013, rising 0.82% compared with the Sensex's 1.94% rise. The scrip had, however, outperformed the market in past one quarter, surging 11.7% as against Sensex's 4.73% gain.

The large-cap pharmaceutical firm has equity capital of Rs 84.91 crore. Face value per share is Rs 5.

Finasteride Tablets are a bioequivalent generic version of Propecia (Finasteride) Tablets. Dr. Reddy's Lab has been awarded a 180-day period for marketing exclusivity in the United States for the abbreviated new drug application (ANDA) for Finasteride 1 mg tablets. According to IMS Health data, the Propecia Tablets brand had annual sales of approximately $136 million for the twelve months ended October 2012, Dr. Reddy's said in a statement.

Dr. Reddy's Finasteride Tablets 1 mg is available in bottle counts of 30 and 90.

Dr Reddy's Laboratories' consolidated net profit jumped 32.4% to Rs 407.44 crore on 27% growth in net sales to Rs 2880.85 crore in Q2 September 2012 over Q2 September 2011.

Dr Reddy's Laboratories is an integrated global pharmaceutical company. Through its three businesses - Pharmaceutical Services and Active Ingredients, Global Generics and Proprietary Products - Dr Reddy's offers a portfolio of products and services including APIs, custom pharmaceutical services, generics, biosimilars, differentiated formulations and NCEs. Therapeutic focus is on gastro-intestinal, cardiovascular, diabetology, oncology, pain management, anti-infective and pediatrics. Major markets include India, USA, Russia and CIS, Germany, UK, Venezuela, S. Africa, Romania, and New Zealand.

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