Dr Reddy's Labs gains after launching drug in US market

Dr Reddy's Laboratories rose 0.44% to Rs 3598.50 at 11:50 IST on BSE after the company announced the launch of Omeprazole and Sodium bicarbonate capsules in the US market.

The announcement was made during trading hours today, 18 July 2016.

Meanwhile, the BSE Sensex was up 148.24 points, or 0.55%, to 27,989.36.

On BSE, so far 5,225 shares were traded in the counter, compared with an average volume of 30,517 shares in the past one quarter. The stock hit a high of Rs 3,610.80 and a low of Rs 3,563.95 so far during the day. The stock hit a record high of Rs 4,382.95 on 20 October 2015. The stock hit a 52-week low of Rs 2,750 on 21 January 2016. The stock had outperformed the market over the past one month till 15 July 2016, rising 16.14% compared with 4.15% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 15.56% as against Sensex's 8.62% rise.

 

The large-cap company has an equity capital of Rs 85.35 crore. Face value per share is Rs 5.

Dr Reddy's Laboratories announced that it has launched Omeprazole and Sodium bicarbonate capsules, 20mg/1100mg and 40mg/1100mg, a therapeutic equivalent generic version of ZEGERID (omeprazole/ sodium bicarbonate) capsules in the United States market, having been approved by the US Food & Drug Administration (USFDA). The Zegerid brand and generic had US sales of approximately $306.7 million MAT for the most recent twelve months ended in May 2016 according to MS HeaIth. Dr. Reddys Omeprazole and sodium bicarbonate capsules 20mg/1100mg and 40mg/1100mg are available in bottle count size of 30. Zegerid is a registered trademark of Santarus, Inc. a wholly-owned subsidiary of Salk Pharmaceuticals, Inc.

Meanwhile, Dr Reddy's Laboratories turned ex-dividend today, 18 July 2016 for dividend of Rs 20 per share for the year ended 31 March 2016 (FY 2016).

Dr Reddy's Laboratories' consolidated net profit fell 85.6% to Rs 74.60 crore on 3% decline in net sales to Rs 3756.20 crore in Q4 March 2016 over Q4 March 2015.

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 active pharmaceutical ingredients (APIs), custom pharmaceutical services, generics, biosimilars and differentiated formulations.

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