Dr Reddys top pick in pharma space, says PN Vijay

Dr Reddys is a top pick in pharma space, says PN Vijay, Portfolio Manager, askpnvijay.com.
 
Vijay told CNBC-TV18, “If you see the last six to eight quarters Dr. Reddy’s have crossed the hump. They had much litigation and many issues in the US. Their overseas operations which are very large had been giving them a lot of trouble. But successively they have been performing better and better unlike Ranbaxy which we normally talk in the same breath.”
 
He further added, “In the sense that the midcap pharma counters, some of them like Wockhardt, Glenmark or Ipca just run away. Several times returns the last one and half years. Dr. Reddy’s comparatively ahs not moved and I think it is probably one of the top two or three picks in the Indian pharma sector and a very global company. It is not a cheap stock, it is a rather expensive stock even by pharma standards, but investors would keep accumulating this stock as the good news flows along. So I think it is a slowly trending excellent blue chip of the pharma sector.”