Dr Reddy's Lab shares up almost 2% on bourses

MUMBAI: Shares of Dr Reddy's Laboratories today rose almost 2 per cent after the company said it has inked a pact with US-based biotechnology firm Amgen to market its three drugs used to treat heart diseases and cancer in India.

The stock gained 1.79 per cent to settle at Rs 4,270.10 on BSE. In intra-day session, it climbed 3.1 per cent to Rs 4,325 -- its 52-week high level.

At the NSE, shares of the company went up 1.78 per cent to Rs 4,266.60 at close.

The Hyderabad-based firm said it has entered into a strategic collaboration with Amgen to market and distribute three Amgen medicines in India in oncology and cardiology.

As per the pact, Dr Reddy's shall undertake a full range of regulatory and commercial services to seek approval and launch the three drugs -- Kyprolis, Blincyto and Repatha -- in India.