Dr. Reddy’s surges on entering into strategic collaboration with Gland Pharma

Dr. Reddys Laboratories is currently trading at Rs. 3295.35, up by 52.05 points or 1.60% from its previous closing of Rs. 3243.30 on the BSE.

The scrip opened at Rs. 3264.80 and has touched a high and low of Rs. 3307.20 and Rs. 3247.50 respectively. So far 17455 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 4375.30 on 04-Nov-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. 3307.20 and Rs. 2842.00 respectively. The current market cap of the company is Rs. 56240.97 crore.

The promoters holding in the company stood at 26.68%, while institutions and non-institutions held 43.64% and 12.69% respectively.

Dr. Reddy’s Laboratories has entered into a strategic collaboration with Gland Pharma, a globally recognized developer and manufacturer of sterile dosage forms, to market and distribute a diverse portfolio of eight injectable Abbreviated New Drug Applications (ANDAs) in the US market.

The portfolio is a mix of filed ANDAs pending approval by the US Food and Drug Administration (USFDA) and ANDAs that will be filed imminently and comprised of generic injectables administered in hospitals and clinics in the US. The combined sale of branded and generic versions of the products in the US is approximately $1 Billion MAT for the most recent twelve months ending in August 2016 according to IMS Health.

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.