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

The announcement was made during trading hours today, 26 June 2013.

Meanwhile, the S&P BSE Sensex was up 22.79 points or 0.12% at 18,651.94.

On BSE, 3,411 shares were traded in the counter as against average daily volume of 27,114 shares in the past one quarter.

The stock hit a high of Rs 2,120 and a low of Rs 2,079.90 so far during the day. The stock had hit a record high of Rs 2,207.80 on 10 June 2013. The stock had hit a 52-week low of Rs 1,584 on 25 June 2012.

The stock had outperformed the market over the past one month till 25 June 2013, rising 1.68% compared with the Sensex's 5.46% fall. The scrip had also outperformed the market in past one quarter, surging 18.86% as against Sensex's 0.28% fall.

The large-cap pharmaceutical company has equity capital of Rs 85.03 crore. Face value per share is Rs 5.

Dr Reddy's Laboratories (DRL) during trading hours today, 26 June 2013 said it has launched Lamotrigine Extended-Release (XR) tablets in five strengths viz. 25 mg, 50 mg, 100 mg, 200 mg and 500 mg in the US market on Tuesday, 25 June 2013, following the approval by the United States Food and Drug Administration (USFDA) of DRL's abbreviated new drug application (ANDA) for Lamotrigine XR tablets. Lamotrigine XR tablets are therapeutic equivalent generic version of Lamictal XR (lamotrigine) tablets.

According to IMS Health data, the Lamictal XR brand and its generic verision had combined sales of approximately $300.5 million in the United States for the twelve months ended April 2013.

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, Romania and New Zealand.

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