Dr Reddy’s Labs shares gain over 5% on new drug launch

By: | Updated: September 28, 2015 4:11 PM

Share price of Dr Reddy's Laboratories jumped as much as 6.32 per cent intra-day on Monday after the pharma company announced that it has launched Esomeprazole Magnesium Delayed-Release-Capsules

Sensex NiftyShare price of Dr Reddy’s Laboratories jumped as much as 6.32 per cent intra-day on Monday after the pharma company announced that it has launched Esomeprazole Magnesium Delayed-Release-Capsules (Photo: PTI)

Share price of Dr Reddy’s Laboratories jumped as much as 6.32 per cent intra-day on Monday after the pharma company announced that it has launched Esomeprazole Magnesium Delayed-Release-Capsules USP, 20 mg and 40 mg, a therapeutic equivalent generic version of NEXIUM® (esomeprazole magnesium) Delayed-Release Capsules in the US market on September 25, 2015, following the approval by the United States Food & Drug Administration (USFDA).

At 1.08 pm, Dr Reddy’s Laboratories shares were trading 5.63 per cent up at Rs 4,195.20. The scrip opened at Rs 3,921 and had touched a high and low of Rs 4,222.75 and Rs 3,921. Sensex was down 14.16 points at 25,849.34.

Later, the scrip closed 5.37 per cent up at Rs 4,185 on BSE.

The NEXIUM® (esomeprazole magnesium) Delayed-Release Capsules brand and generic had US sales of approximately US$5.2 billion on MAT for the most recent twelve months ending in July 2015 according to IMS Health.

Last one week high and low of the scrip stood at Rs 4,173.40 and Rs 3,855.65 respectively. The current market cap of the company is Rs 68,638.85 crore.

The promoters holding in the company stood at 25.48 per cent while institutions and non-institutions held 43.67 per cent and 13.81 per cent, respectively.

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