Dr Reddy's scales record high after filing 3 new drug applications in US

Dr Reddy's Laboratories rose 0.96% to Rs 3,713.60 at 09:57 IST on BSE after the company and its subsidiary Promius Pharma filed three new drug applications with the US health regulator.

The company made announcement after market hours yesterday, 7 April 2015.

Meanwhile, the BSE Sensex was up 127.09 points, or 0.45%, to 28,643.68

On BSE, so far 7,311 shares were traded in the counter, compared with an average volume of 24,817 shares in the past one quarter.

The stock scaled a record high of Rs 3,738 in intraday trade today, 8 April 2015. The stock hit a low of Rs 3,669.10 so far during the day. The stock hit a 52-week low of Rs 2,250 on 19 May 2014.

The large-cap pharma firm has an equity capital of Rs 85.19 crore. Face value per share is Rs 5.

Dr Reddy's Laboratories and its subsidiary, Promius Pharma, LLC yesterday, 7 April 2015, announced the filing of three 505(b)(2) New Drug Applications (NDAs) with the US Food and Drug Administration (US FDA). The three NDAs - DFD-01, DFD-09, and DFN-11, are in support of Dr Reddy's Proprietary Products group, focused on developing and commercializing therapies in dermatology and neurology.

Dr Reddy's Laboratories said that DFD-01 and DFD-09 are the first dermatology applications submitted to the NDA that have been fully developed leveraging in-house capabilities. DFN-11 is the first development program filed in support of a newly created vertical, focused on the US neurology market, the company said. Upon approval, the products will be commercialized by Promius Pharma, it added

Dr Reddy's Laboratories' consolidated net profit fell 7.1% to Rs 574.53 crore on 9.2% rise in total income to Rs 3881.86 crore in Q3 December 2014 over Q3 December 2013.

Dr Reddy's Laboratories is an integrated global pharmaceutical company. Through its three businesses - Pharmaceutical Services & 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.

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