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Last Updated : Dec 18, 2019 11:53 AM IST | Source: Moneycontrol.com

Dr Reddy’s share price climbs 1% after Credit Suisse maintains outperform rating

The near-term catalyst could be the increase in volume share in gSuboxone, Credit Suisse added.

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Shares of Dr Reddy’s Laboratories climbed by over a percent in morning trade on December 18 after the foreign brokerage firm Credit Suisse maintained an outperform call on the stock.

Credit Suisse has set the target price at Rs 3,055 per share of Dr Reddy’s Laboratories.

"Revlimid Litigation is delayed and the trial is now expected to begin in Q2FY21. Revlimid is a large opportunity as it could add more than $500 million net present value (NPV) even in the worst case," said Credit Suisse.

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The near-term catalyst could be the increase in volume share in gSuboxone, Credit Suisse added.

In the first week of December 2019, Dr Reddy's Laboratories launched Bortezomib for Injection 3.5 mg/vial, indicated for the treatment of certain types of cancers in adult patients, in the US market.

It also launched Deferasirox tablets for oral suspension used for the treatment of chronic iron overload in the US market.

Shares of Dr Reddy’s Laboratories traded 1.05 percent up at Rs 2857 on BSE around 11:45 hours IST.

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First Published on Dec 18, 2019 11:53 am
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