Dr Reddy's bolstered by Plavix deal buzz

DALAL STREET SPIKES

Dr Reddy's ended up 9.62 per cent today at Rs 1,489 after reports that two of the multinational companies with which the company has patent disputes have approached it for settlement.

Nearly 2.9 lakh shares were traded on the BSE on Wednesday against a two-week average of 1.3 lakh per day. The stock has been climbing steadily in the past six months.

According to reports, two multinational pharma companies- Sanofi-Aventis and Bristol-Myers Squibb with which Dr Reddy's has an ongoing patent dispute over the blood thinner Plavix, have approached the company for a settlement.

Adding fire to the reports was news of a similar deal involving a patent dispute over the same drug with drug-maker Apotex Inc.