Dr Reddy's Laboratories rose 0.22% to Rs 1,661 at 9:57 IST on BSE after the company said it has launched two bioequivalent generic versions of SINGULAIR tablets and Chewable tablets in the US market on 6 August 2012.
The company made this announcement after market hours on Tuesday, 7 August 2012.
Meanwhile, the BSE Sensex was up 51.66 points or 0.29% to 17,653.44.
On BSE, 1,038 shares were traded in the counter as against average daily volume of 19,742 shares in the past one quarter.
The stock hit a high of Rs 1,665 and a low of Rs 1,650 so far during the day. The stock had hit a 52-week high of Rs 1,818 on 20 April 2012. The stock had hit a 52-week low of Rs 1,387 on 22 August 2011.
The stock had outperformed the market over the past one month till 7 August 2012, rising 1.48% compared with the Sensex's 0.46% rise. The scrip had, however, underperformed the market in past one quarter, declining 3.32% as against Sensex's 4.07% rise.
The large-cap company has equity capital of Rs 84.90 crore. Face value per share is Rs 5.
Dr Reddy's Laboratories said it has launched Montelukast Sodium Tablets 10 milligram (mg) and Montelukast Sodium Chewable Tablets 4 mg and 5 mg -- bioequivalent generic versions of SINGULAIR tablets and Chewable tablets, in the US market on 6 August 2012 following the approval by the United States Food and Drug Administration (USFDA) of Dr Reddy's abbreviated new drug application (ANDA).
According to IMS Health data, the SINGULAIR tablets and Chewable tablets brand had sales of approximately $3.6 billion and $1.14 billion respectively in the US for the twelve months ended March 2012.
Dr Reddy's Montelukast Sodium tablets in 10 mg and Montelukast Sodium Chewable tablets in 4 mg and 5 mg are available in bottle counts of 30 and 90, the company said in a statement.
Dr Reddy's Laboratories' consolidated net profit rose 27.9% to Rs 335.98 crore on 28.4% growth in net sales to Rs 2540.61 crore in Q1 June 2012 over Q1 June 2011.
Dr Reddy's Laboratories is an integrated global pharmaceutical company. Through its three businesses - Pharmaceutical Services and Active Ingredients, Global Generics and Proprietary Products - Dr Reddy's offers a portfolio of products and services including APIs, custom pharmaceutical services, generics, biosimilars, differentiated formulations and NCEs. Therapeutic focus is on gastro-intestinal, cardiovascular, diabetology, oncology, pain management, anti-infective and pediatrics. Major markets include India, USA, Russia and CIS, Germany, UK, Venezuela, S. Africa, Romania, and New Zealand.
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