Dr Reddy's Labs hits 52-week high; stock rallies 5% in two days

The stock hit a 52-week high of Rs 2,700, up 2%, extending its previous day's 3% gain on the BSE, surpassed its previous high of Rs 2,687 recorded on September 28 in intra-day trade.

Shares of Dr Reddy’s Laboratories hit a 52-week high of Rs 2,700, up 2%, extending its previous day’s 3% gain on the BSE. The stock surpassed its previous high of Rs 2,687 recorded on September 28 in intra-day trade.

Since November 20, in past six seven trading days, the stock of pharmaceutical company has moved up 10% after an appellate court in the US cleared the way for the company to resume sales of a Suboxone generic. The drug is used to treat opioid addiction and is expected to generate as much as $100 million (a little over Rs