Dr Reddy's Lab hits record high

Meanwhile, the S&P BSE Sensex was up 73.58 points or 0.38% at 19,684.06.

On BSE, 12,000 shares were traded in the counter as against average daily volume of 24,375 shares in the past one quarter.

The stock hit a high of Rs 2,153 so far during the day, which is a record high for the counter. The stock hit a low of Rs 2,119.80 so far during the day. The stock had hit a 52-week low of Rs 1,528 on 19 June 2012.

The stock had outperformed the market over the past one month till 3 June 2013, surging 5.6% compared with the Sensex's 0.18% rise. The scrip had also outperformed the market in past one quarter, jumping 21.61% as against Sensex's 3.66% gain.

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

Shares of Dr Reddy's Laboratories (Dr Reddy's) have risen 2.49% in two trading sessions from a recent low of Rs 2,092.60 on 31 May 2013.

Dr Reddy's and FUJIFILM Corporation (Fujifilm) during trading hours on Monday, 3 June 2013, said that they had decided to terminate the memorandum of understanding (MoU) to enter into an exclusive partnership in the generic drugs business for the Japanese market and to establish a joint venture (JV) in Japan. Dr Reddy's and Fujifilm will continue to explore partnership/alliance opportunities in other pharmaceutical businesses such as active pharmaceutical ingredients (API) development and manufacturing, contract research and development and manufacturing, and the development and marketing of super-generics, a joint statement from the two companies said.

Fujifilm is one of the major operating companies of FUJIFILM Holdings. Since its founding in 1934, the company has built up a wealth of advanced technologies in the field of photo imaging, and in line with its efforts to become a comprehensive healthcare company, Fujifilm is now applying these technologies to the prevention, diagnosis and treatment of diseases in the medical and life science fields.

Dr Reddy's Laboratories' consolidated net profit surged 66.6% to Rs 570.89 crore on 25.6% growth in net sales to Rs 3339.94 crore in Q4 March 2013 over Q4 March 2012.

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 and 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, South Africa and Romania.

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