Dr. Reddy's Lab in the pink of health

Dr. Reddy's Laboratories rose 2.1% to Rs 1,873.30 at 11:03 IST on BSE after the company said it has launched Zoledronic Acid Injection, 5 mg/100 ml in the US market on Wednesday, 3 April 2013.

The company made the announcement during trading hours today, 4 April 2013.

Meanwhile, the S&P BSE Sensex was down 131.88 points or 0.7% at 18,669.76.

On BSE, 9,960 shares were traded in the counter as against average daily volume of 30,532 shares in the past one quarter.

The stock hit a high of Rs 1,878.30 and a low of Rs 1,835 so far during the day. The stock had hit a record high of Rs 1,968.60 on 25 January 2013. 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 April 2013, surging 5.6% compared with the Sensex's 0.62% fall. The scrip had also outperformed the market in past one quarter, sliding 2.46% as against Sensex's 4.87% fall.

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

Dr. Reddy's Laboratories today, 4 April 2013, said it has launched Zoledronic Acid Injection (5 mg/100 ml), therapeutic equivalent generic version of Reclast (Zoledronic acid) Injection 5 mg/100 ml in the US market on Wednesday, 3 April 2013, following the approval by the United States Food and Drug Administration (USFDA) of the company's abbreviated new drug application (ANDA) for Zoledronic Acid Injection (5 mg/100 ml).

According to IMS Health data, the Reclast brand had annual sales of approximately $355 million in the United States for the twelve months ended February 2013, Dr. Reddy's said in a statement.

Dr. Reddy's Zoledronic Acid Injection (5 mg/100 ml) is available in a single use vial for intravenous infusion, Dr. Reddy's said in a statement.

Dr. Reddy's Laboratories' consolidated net profit declined 29.2% to Rs 363.31 crore on 3.5% growth in net sales to Rs 2865.16 crore in Q3 December 2012 over Q3 December 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. The company's major markets include India, USA, Russia and CIS, Germany, UK, Venezuela, S. Africa, Romania, and New Zealand.

Powered by Capital Market - Live News