Dr Reddy's Laboratories rose 0.98% to Rs 2577.70 at 11:04 IST on BSE after the firm said it has launched Fenofibrate Capsules, USP 43 mg and 130 mg in the US market on Tuesday, 22 April 2014.
The announcement was made during trading hours today, 23 April 2014.
Meanwhile, the S&P BSE Sensex was up 119.10 points or 0.52% at 22,877.47.
On BSE, so far 5,305 shares were traded in the counter as against average daily volume of 26,108 shares in the past one quarter.
The stock hit a high of Rs 2582.65 and a low of Rs 2550 so far during the day. The stock had hit a record high of Rs 2,939.80 on 28 February 2014. The stock had hit a 52-week low of Rs 1,860 on 22 April 2013.
The stock had underperformed the market over the past one month till 22 April 2014, sliding 8.39% compared with the Sensex's 4.61% rise. The scrip had also underperformed the market in past one quarter, declining 3.74% as against Sensex's 6.66% rise.
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The large-cap company has equity capital of Rs 85.05 crore. Face value per share is Rs 5.
Dr Reddy's Laboratories (Dr Reddy's) said it has launched Fenofibrate Capsules, USP 43 mg and 130 mg, a therapeutic equivalent generic version of ANTARA (fenofibrate) capsules, in the US market on Tuesday, 22 April 2014, approved by the United States Food & Drug Administration (USFDA). The ANTARA (fenofibrate) capsules brand and generic had US sales of approximately $74 million for the twelve months ended February 2014 according to IMS Health.
Dr Reddy's Fenofibrate capsules, USP 43 mg is available in bottle counts of 30 and 130 mg are available in bottle counts of 30 and 90.
Dr Reddy's Laboratories' consolidated net profit surged 70.2% to Rs 618.42 crore on 23.3% growth in net sales to Rs 3533.76 crore in Q3 December 2013 over Q3 December 2012.
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 active pharmaceutical ingredients (APIs), custom pharmaceutical services, generics, biosimilars and differentiated formulations.
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