Dr Reddy's shares gain on Zenatane launch

Reuters Market Eye - Shares in Dr.Reddy's Laboratories gain 2.1 percent after the company on Thursday said in a statement that it launched Zenatane, a generic version of Accutane drug, following its approval by the United States Food & Drug Administration.

The company added that the drug had $309 million in sales for the most recent twelve months ending January 2013, according to IMS Health.

"Assuming an incremental 20-25 percent price drop and 20 percent market share, this could be $50 million per year revenue opportunity for Dr.Reddy's," Morgan Stanley said in a report.

(Reporting by Abhishek Vishnoi)