Dr. Reddy’s Lab advances on launching Versavo in India

Dr. Reddys Laboratories is currently trading at Rs. 2536.05, up by 43.25 points or 1.73% from its previous closing of Rs. 2492.80 on the BSE.

The scrip opened at Rs. 2525.00 and has touched a high and low of Rs. 2567.50 and Rs. 2515.10 respectively. So far 13233 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 2965.20 on 02-May-2019 and a 52 week low of Rs. 2065.30 on 15-Feb-2019.

Last one week high and low of the scrip stood at Rs. 2598.60 and Rs. 2352.00 respectively. The current market cap of the company is Rs. 42423.81 crore.

The promoters holding in the company stood at 26.76%, while Institutions and Non-Institutions held 44.50% and 14.44% respectively.

Dr. Reddy's Laboratories has launched Versavo (bevacizumab), a biosimilar of Roche's Avastin in India, indicated for the treatment of several types of cancers (metastatic colorectal cancer, non-squamous non-small cell lung cancer, recurrent glioblastoma, metastatic renal cell carcinoma, cervical cancer, metastatic breast cancer and epithelial ovarian, fallopian tube and primary peritoneal cancer). The company’s Versavo is available in strengths of 100mg and 400mg single use vials.

The company now has six biosimilar products commercialized in India and various emerging markets and an active development pipeline of several biosimilar products in the oncology and immunology space.

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