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Dr. Reddy’s Lab surges on launching Daptomycin for Injection

Dr. Reddy’s Laboratories is currently trading at Rs. 2851.85 up by 45.70 points or 1.63% from its previous closing of Rs. 2806.15 on the BSE. The scrip opened at Rs. 2804.10 and has touched a high and low of Rs. 2845.00 and Rs. 2800.00 respectively. So far 2912 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 5 has touched a 52 week high of Rs. 2965.20 on 02-May-2019 and a 52 week low of Rs. 1888.00 on 21-May-2018. Last one week high and low of the scrip stood at Rs. 2917.20 and Rs. 2765.00 respectively. The current market cap of the company is Rs. 46747.56 crore.

The promoters holding in the company stood at 26.77%, while Institutions and Non-Institutions held 45.46% and 13.66% respectively. Dr. Reddy’s Laboratories has launched the Daptomycin for Injection, 500mg/vial single-dose vial, a therapeutic equivalent generic version of Cubicin for Injection, approved by the United States Food and Drug Administration (USFDA).

The Cubicin for Injection (daptomycin for injection) brand and generic had US sales of approximately $640.8 million MAT for the most recent twelve months ending in March 2019 according to IQVIA Health. The Injection is available in single-dose 15 ml vials containing 500 mg of daptomycin.

Dr. Reddy’s Laboratories is a multinational pharmaceutical company based in Hyderabad, Telangana in India. It manufactures and markets a wide range of pharmaceuticals in India and overseas.

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