Dr Reddy's Laboratories rose 0.53% to Rs 3,108 at 11:10 IST on BSE after the company announced that its subsidiary Promius Pharma LLC has commercially launched ZEMBRACE SymTouch in the United States.
The announcement was made on Tuesday, 19 April 2016, when the stock market was closed for a holiday.Meanwhile, the S&P BSE Sensex was down 85.81 points or 0.33% at 25,730.55.
On BSE, so far 7,466 shares were traded in the counter as against average daily volume of 41,704 shares in the past one quarter. The stock hit a high of Rs 3,132.90 and a low of Rs 3,104.10 so far during the day. The stock had hit a record high of Rs 4,382.95 on 20 October 2015. The stock had hit a 52-week low of Rs 2,750 on 21 January 2016. The stock had underperformed the market over the past one month till 18 April 2016, sliding 2.49% compared with Sensex's 3.46% rise. The scrip had, however, outperformed the market in past one quarter, advancing 7.46% as against Sensex's 6.73% rise.
The large-cap company has equity capital of Rs 85.30 crore. Face value per share is Rs 5.
ZEMBRACE SymTouch is a prescription medicine used to treat acute migraine headaches with or without aura in adults who have been diagnosed with migraine.
Dr Reddy's Laboratories' consolidated net profit rose 0.8% to Rs 579.20 crore on 3.2% growth in net sales to Rs 3967.90 crore in Q3 December 2015 over Q3 December 2014. The company is scheduled to announce its Q4 March 2016 results on 12 May 2016.
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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 APIs, custom pharmaceutical services, generics, biosimilars and differentiated formulations.
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