Shares of Dr Reddy's Ltd touched a record high and settled with gains of nearly 2 per cent on the BSE after pharma major launched Sumatriptan Injection USP in the US.
After market trading hours yesterday, the company had said it has launched Sumatriptan Injection USP in the US.
Reacting to the development, shares of the company opened on a bullish note and then surged as much as 2.56 per cent to touch an intra-day high of Rs 2,845 on the BSE.
At the end of today's closing, shares of the company were quoted at Rs 2,823.05, higher by 1.77 per cent on the BSE. Accordingly, the market capitalisation of the company swelled by Rs 1,512 crore to Rs 48,002 crore.
Sumatriptan Injection USP is a therapeutic equivalent generic version of Imitrex Statdose Pen (sumatriptan succinate) and was launched in the US market today, following approval by the United States Food & Drug Administration (USFDA).
