Dr Reddys Labs gains on concluding acquisition

Dr Reddys Laboratories rose 0.14% to Rs 3,379 at 15:21 IST on BSE after the company said it has concluded the acquisition of select portfolio of the established products business of UCB in India.

The announcement was made during market hours today, 19 June 2015.

Meanwhile, the BSE Sensex was up 185.80 points, or 0.69%, to 27,301.63.

On BSE, so far 9291 shares were traded in the counter, compared with an average volume of 14,000 shares in the past two weeks.

The stock hit a high of Rs 3,423.60 and a low of Rs 3,377.20 so far during the day. The stock hit a 52-week high of Rs 3,808.75 on 10 April 2015. The stock hit a 52-week low of Rs 2,419 on 19 June 2014.

It may be recalled that Dr Reddy's Laboratories had on 1 April 2015, announced acquisition of select portfolio of the established products business of UCB in India.

Dr Reddy's Laboratories' consolidated net profit rose 7.73% to Rs 518.84 crore on 10.83% growth in total income to Rs 3882.97 crore in Q4 March 2015 over Q4 March 2014.

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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