Dr Reddy’s shares rise on generic dementia drug launch in US

Dr Reddy’s shares rose as much as 1.9 per cent on Tuesday to a record high after the company launched the generic Memantine hydrochloride tablets used for treatment of dementia of the Alzheimer’s type in the US market.

At 12.12 pm, the company’s shares were up 0.72 per cent on BSE and on NSE the shares were up 0.68 per cent.

The tablets are generic versions of Merz Pharma GmbH & Co KGaA’s Namenda tablets.

The company’s tablets in the 5 mg strength are available in the bottle count size of 60 and and 10 mg strength tablets are available in bottle count sizes of 60 and 500, it added.

Dr Reddy’s Laboratories shares on Monday closed at Rs 3,758.75 per scrip on the BSE, up 0.44 per cent from its previous close.