Dr. Reddy's Laboratories rises on entering into licensing agreement with XenoPort

Dr. Reddys Laboratories Ltd. | Pharmaceuticals & Drugs | Healthcare | BSE: 500124 | NSE: DRREDDY

28 Mar 2016 Evaluate

Dr. Reddys Laboratories is currently trading at Rs. 3053.95, up by 6.70 points or 0.22% from its previous closing of Rs. 3047.25 on the BSE.

The scrip opened at Rs. 3049.90 and has touched a high and low of Rs. 3074.30 and Rs. 3016.00 respectively. So far 16291 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 4382.95 on 20-Oct-2015 and a 52 week low of Rs. 2750.00 on 21-Jan-2016.

Last one week high and low of the scrip stood at Rs. 3195.00 and Rs. 3033.55 respectively. The current market cap of the company is Rs. 51663.41 crore.

The promoters holding in the company stood at 25.57% while Institutions and Non-Institutions held 43.50% and 30.93% respectively.

Dr. Reddy's Laboratories and XenoPort, Inc have entered into a license agreement pursuant to which the company will be granted exclusive U.S. rights for the development and commercialization of XenoPort's clinical-stage oral new chemical entity -- XP23829. The company is planning to develop XP23829 as a potential treatment for moderate-to-severe chronic plaque psoriasis and may potentially develop XP23829 for relapsing forms of multiple sclerosis (MS).

Under the terms of the agreement, the company will receive exclusive U.S. rights to develop and commercialize XP23829 for all indications. In exchange for these rights, XenoPort will receive a $47.5 million up-front payment and an additional $2.5 million for transfer of certain clinical trial materials to the company. XenoPort will also be eligible to receive up to $190 million upon the achievement by the company of certain regulatory milestones which could be achieved over a period of several years. In addition, XenoPort will be eligible to receive up to $250 million upon the achievement of commercial milestones and up to mid-teens royalty payments based on potential net sales of XP23829 in the United States.

Dr. Reddy's Laboratories, is a multinational pharmaceutical company based in Hyderabad, Telangana in India. Dr. Reddy's manufactures and markets a wide range of pharmaceuticals in India and overseas.

Dr. Reddys Lab Share Price

1293.25 -13.55 (-1.04%)

08-May-2026 16:59 View Price Chart

Peers

Company Name	CMP
Sun Pharma Inds.	1847.30
Dr. Reddys Lab	1293.25
Cipla	1347.70
Zydus Lifesciences	938.90
Lupin	2377.90
View more..

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