Dr Reddy's Labs gains on relaunch of generic Nexium

Shares of Dr Reddy's Labs were up over 1% at Rs 3,137 on the Bombay Stock Exchange after the company announced the relaunch of its Esomeprazole Magnesium delayed-release capsules in the US market.

The capsules are therapeutic equivalent generic version of Nexium (esomeprazole magnesium) delayed-release capsules of Astrazeneca AB Corporation, the company said in a release.

The re-launch is due to a change in the capsule colour, the release added.

The stock opened at Rs 3,124 and touched a high of Rs 3,171. At 2pm, over 478,000 shares  were traded on both the stock exchanges.