Dr Reddy’s Labs hits all-time high on generic drug launch

NEW DELHI: Stocks of Dr Reddy's Laboratories jumped nearly 2 per cent in trade toady to hit its all-time high after the drug maker said it has launched a generic drug in the US.

The stock ended 0.46 per cent up at Rs 3776.90.

The stock rose 1.82 per cent to hit an all-time high of Rs 3,827.10 in trading today. The previous all-time high for the stock stood at 3808.75.
The drug maker informed BSE that it has launches memantine hydrochloride tablets, a copy of Actavis Plc Alzheimer's drug Namenda, in the United States

The drug has a market size of $1.4 billion in the United States as per IMS Health,” analysts were quoted by a Reuters report as saying.

"We expect Dr Reddy's to garner revenues of $10-$15 million upon launch," analyst Sapna Jhawar at Reliance Securities wrote in a note.