Dr Reddy’s Laboratories hits 52-week high on Sumatriptan launch in the US

NEW DELHI: Dr Reddy’s Laboratories (DRL) rallied as much as 1.7 per cent to hit its 52-week high of Rs 2823 in trade on Wednesday after the Pharma major said it has launched Sumatriptan Injection USP in the US.

At 10:00 a.m.; DRL pared some of the morning gains but was still trading 0.7 per cent higher at Rs 2794.50. It has hit a low of Rs 2785.90 and a 52-week high of Rs 2823 on the Bombay Stock Exchange.

The injection is an autoinjector system for subcutaneous use. It is a therapeutic equivalent generic version of Imitrex Statdose Pen (sumatriptan succinate) and was launched in the US market today following approval by the United States Food & Drug Administration (USFDA), a company statement said here.