DRL stock slips 5% after US court order

Shares of Dr Reddy's Labs plunged over 5 per cent on Wednesday afternoon after a US appeals court barred the drugmaker from launching a copycat version of its rival Indivior's opioid treatment Suboxone Film.

The latest hurdle comes three weeks after the US Court of Appeals for the Federal Circuit lifted a preliminary injunction that blocked it from selling Suboxone Film, saying a lower court judge erred in granting the request.

The scrip closed 4.14 per cent down at Rs 2,597 while the benchmark Sensex closed 1.79 per cent higher at 35,779.07. It opened at Rs 2,679 on the BSE against its previous closing of Rs 2,709.20.