Shares in Dr.Reddy's Laboratories gain 2.1 percent after the company on Thursday said in a statement that it launched Zenatane, a generic version of Accutane drug, following its approval by the United States Food & Drug Administration.
The company added that the drug had USD 309 million in sales for the most recent twelve months ending January 2013, according to IMS Health.
"Assuming an incremental 20-25 percent price drop and 20 percent market share, this could be USD 50 million per year revenue opportunity for Dr.Reddy's," Morgan Stanley said in a report.
Dr Reddys Labs stock price
On November 24, 2015, Dr Reddys Laboratories closed at Rs 3388.60, down Rs 12.35, or 0.36 percent. The 52-week high of the share was Rs 4382.95 and the 52-week low was Rs 3010.00.
The company's trailing 12-month (TTM) EPS was at Rs 103.55 per share as per the quarter ended September 2015. The stock's price-to-earnings (P/E) ratio was 32.72. The latest book value of the company is Rs 623.38 per share. At current value, the price-to-book value of the company is 5.44.
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