Dr. Reddy's Laboratories rose 1.71% to Rs 1,942.95 at 12:16 IST on BSE, with the stock extending 2-day 4.11% gains triggered by the company launching Zoledronic Acid Injection, 5 mg/100 ml in the US market on 3 April 2013.
Meanwhile, the S&P BSE Sensex was down 39.01 points or 0.21% at 18,411.22.
On BSE, 9,313 shares were traded in the counter as against average daily volume of 30,329 shares in the past one quarter.
The stock hit a high of Rs 1,948 and a low of Rs 1,882 so far during the day. The stock had hit a record high of Rs 1,968.60 on 25 January 2013. The stock had hit a 52-week low of Rs 1,528 on 19 June 2012.
The stock had outperformed the market over the past one month till 5 April 2013, surging 6.48% compared with the Sensex's 3.62% fall. The scrip had also outperformed the market in past one quarter, rising 1.15% as against Sensex's 6.74% fall.
The large-cap company has equity capital of Rs 84.91 crore. Face value per share is Rs 5.
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Shares of Dr. Reddy's Laboratories have risen 5.89% in three trading sessions from Rs 1,834.85 on 3 April 2013, after the company during trading hours on 4 April 2013, said it has launched Zoledronic Acid Injection (5 mg/100 ml), therapeutic equivalent generic version of Reclast (Zoledronic acid) Injection 5 mg/100 ml in the US market on 3 April 2013, following the approval by the United States Food and Drug Administration (USFDA) of the company's abbreviated new drug application (ANDA) for Zoledronic Acid Injection (5 mg/100 ml).
According to IMS Health data, the Reclast brand had annual sales of approximately $355 million in the United States for the twelve months ended February 2013, Dr. Reddy's said in a statement.
Dr. Reddy's Zoledronic Acid Injection (5 mg/100 ml) is available in a single use vial for intravenous infusion, Dr. Reddy's said in a statement.
Dr. Reddy's Laboratories' consolidated net profit declined 29.2% to Rs 363.31 crore on 3.5% growth in net sales to Rs 2865.16 crore in Q3 December 2012 over Q3 December 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. The company's major markets include India, USA, Russia and CIS, Germany, UK, Venezuela, S. Africa, Romania, and New Zealand.
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