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.
Shares in Dr.Reddy's Laboratories
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 April 21, 2015, at 15:17 hrs Dr Reddys Laboratories was quoting at Rs 3455.45, down Rs 106.65, or 2.99 percent. The 52-week high of the share was Rs 3808.75 and the 52-week low was Rs 2250.00.
The company's trailing 12-month (TTM) EPS was at Rs 92.70 per share as per the quarter ended December 2014. The stock's price-to-earnings (P/E) ratio was 37.28. The latest book value of the company is Rs 547.54 per share. At current value, the price-to-book value of the company is 6.31.
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