Dr Reddy's Lab inches up after launch of generic medicine in US

Dr Reddy's Laboratories rose 0.54% to Rs 2474.20 at 14:21 IST on BSE after the company said it has launched Paricalcitol capsules, a therapeutic equivalent generic version of ZEMPLAR (Paricalcitol) capsules in US market on 24 June 2014.

The announcement was made during market hours today, 25 June 2014.

Meanwhile, the S&P BSE Sensex was down 58.08 points or 0.23% at 25,310.82.

On BSE, so far 6,134 shares were traded in the counter as against average daily volume of 38,641 shares in the past one quarter.

The stock was volatile. The stock rose as much as 0.78% at the day's high of Rs 2,480.15 so far during the day. The stock lost as much as 0.29% at the day's low of Rs 2,453.70 so far during the day. The stock had hit a record high of Rs 2,939.80 on 28 February 2014. The stock had hit a 52-week low of Rs 2,025 on 21 August 2013.

The stock had outperformed the market over the past one month till 24 June 2014, jumping 6.65% compared with the Sensex's 2.74% rise. The scrip had, however, underperformed the market in past one quarter, sliding 10.49% as against Sensex's 15.02% rise.

The large-cap company has equity capital of Rs 85.14 crore. Face value per share is Rs 5.

Dr Reddy's Laboratories said it has launched Paricalcitol capsules, 1 mcg, 2 mcg, and 4 mcg, a therapeutic equivalent of generic version of ZEMPLAR (Paricalcitol) Capsules in the US market on 24 June 2014, following the approval by the United States Food and Drug Administration (USFDA).

According to IMS Health data, the ZEMPLAR brand and generic had US sales of approximately $109.6 million for the most recent twelve months ended March 2014.

Dr Reddy's Paricalcitol Capsules 1 mcg, 2 mcg, and 4 mcg are available in bottle counts of 30.

Dr Reddy's Laboratories' consolidated net profit declined 15.6% to Rs 481.60 crore on 4.2% growth in net sales to Rs 3480.90 crore in Q4 March 2014 over Q4 March 2013.

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 active pharmaceutical ingredients (APIs), custom pharmaceutical services, generics, biosimilars and differentiated formulations.

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