Shares of Dr Reddy's Laboratories jumped 5.3 per cent on Thursday to Rs 1,217 apiece, making it the top gainer in the Nifty 50 and the BSE 100 indices. By comparison, the Nifty 50 was up 0.53 per cent at 25,289.
In the cataclysmic fall by techs led by Infosys, the sudden downturn by Dr Reddy's Labs late Friday went virtually innoticed.
Dr Reddy's Labs gave the market reason to devalue the scrip further after it announced that it was dropping three compounds from its research pipeline.
Dr Reddy's, which has tied up with Russian Direct Investment Fund for Sputnik V in India, soft launched the vaccine in India in May 2021, after receiving Emergency Use Authorisation in April 2021.
Asian markets were trading mixed with the Nikkei gaining after the US dollar strengthened against the yen.
India's generic drug manufacturer, Dr Reddy's Laboratories, suffered a setback when a US' Court of Appeals ruled that it infringed on Pfizer Pharmaceutical company's patent for the blood pressure medicine Norvasc.
Dr Reddy's shrugged off recent volatility on Wednesday and moved tenaciously on filing new gernerics with the US FDA.
Dr Reddy's Laboratories (DRL) is set to acquire Haleon's global portfolio of consumer healthcare brands in the nicotine replacement therapy (NRT) category outside of the US. DRL will pay a total consideration of 500 million, including an upfront cash consideration of 458 million and contingent cash payments up to 42 million based on performances in CY25 and CY26. DRL will acquire the portfolio through the purchase of shares of Northstar Switzerland SARL, a Haleon group firm.
Dr Reddys Laboratories surged in early trades on Friday on good buying support, but it slipped from the days high. The scrip of the local pharmaceutical major continued to witness volatility.
Pharma major Dr Reddy's Laboratories delivered a muted operational performance in the fourth quarter of financial year 2024-25 (Q4FY25), even as revenue growth remained healthy. Lower gross margin performance and muted domestic growth are key concerns. Most brokerages have a "Sell" or "Reduce" rating as there are uncertainties related to the development of a new product portfolio and the launch timelines.
Dr Reddys Laboratories Ltd has posted a net profit of Rs 931.60 million for the quarter ended December 31, 2002 as compared to a net profit of Rs 1615.30 million in the quarter ended December 31,2001.
The US Drug maker requested the court to pass an order to restrain DRL from commercially manufacturing, using, offering for sale, selling, marketing, distributing, or importing DRL's generic paricalcitol injectable products prior to the expiration of said patents.
The company will supply the drug to major government as well as private hospitals across India, Dr Reddy's said in a regulatory filing.
Dr Reddy's Laboratories (DRL) share price plunged 6.66 per cent to Rs 1,203.50 per share on the NSE during Friday after analysts remained cautious on the company's Q3 performance and differed on its growth outlook. DRL's Q3 performance was viewed as subdued by some analysts when they adjusted it for one-time grants and incomes that the company received during the quarter.
A drug developed by the Defence Research and Development Organisation (DRDO) may reverse the heart damage caused by a protein in the SARS-CoV-2 virus, a study conducted in fruit flies and mice has found.
Dr Reddy's Laboratories Ltd expects the locally manufactured Russia's COVID-19 vaccine Sputnik V to be available from September-October period, a senior official of the city-based drug maker said.
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Dr Reddy's Foundation, the social arm of pharma major Dr Reddy's Laboratories, has set up its first Livelihood Advancement Business School centre outside India at Hanoi, Vietnam.
Indian pharmaceutical majors Dr Reddy's Laboratories and Ranbaxy Labs have made it to the list of 105 best pharmaceutical companies in Asia.
The S&P BSE Sensex shed 119 points to close at 27,977 and the Nifty50 dropped 45 points to finish at 8,591.
Suit alleges fraud by hiding significant deficiencies in CGMP regulations enforced by US health regulator.
I would like to renew our commitment to advancing the frontiers of science in drug discovery, says the chairman of Dr Reddy's Labs.
"Dr Manmohan Singh, soon after becoming the prime minister, had himself carried a small table for us to have tea comfortably at his Safdarjung Lane residence instead of asking his house help," Dr Srinath Reddy, who was the chairperson of the PM's medical panel, recalled.
Simvastatin goes off patent in late June; Ranbaxy gets 180-day exclusivity period; Dr Reddy's-Merck will be third player.
'Our problem is not a budget deficit but a trust deficit. We need to trust our institutions and industries to innovate and lead. That is the way forward for India.'
Concerns over weakening demand for Indian pharmaceutical (pharma) drugs in the US - their largest export market - have weighed heavily on investor sentiment this year. While the Nifty 50 has gained 6.02 per cent year - to - date (as on September 15), the Nifty Pharma index has declined 5.18 per cent, National Stock Exchange data shows.
Companies which have been dropped from the list include Tata Motors, Hindustan Unilever, MRF, Glaxo SmithKline Consumer Healthcare, Pfizer, Dr Reddy's Labs, Glenmark Pharmaceuticals, HDFC and Kotak Mahindra Bank
A reading of the reports suggests that there is no standard practice for reporting political contributions and it is left to the company's discretion to report them as they find fit.
The rupee's appreciation of 6.4 per cent against the dollar and 12 per cent against the euro is likely to hurt the first-quarter performance of the pharmaceutical sector, indicate a results' preview by broking houses.
The tailwind of low price erosion in the US generics market, seen by domestic pharmaceutical companies in calendar year 2023 (CY23), may be reversing slowly, caution analysts. According to the latest data from US-based Centers for Medicare and Medicaid Services (CMMS), price erosion in calendar year 2024 (CY24) on a year-to-date (YTD) basis stood at a high of 15 per cent in the oral solid dosage (OSD) segment compared to a low of 1 per cent in CY23. This erosion, according to a report by Antique Stock Broking, was the highest in the last three years.
Disappointed with past experience, domestic majors even skip giving any memorandum.
The 50-share NSE index Nifty rose by 24.95 points, or 0.41 per cent, to settle at 6,073.30.
The anti-depressant drug market in the US is primarily ruled by Effexor XR (Venlafaxine) of Wyeth (now owned by Pfizer).
Benchmark indices gained for the third day running on Friday, with the Sensex climbing over 300 points amid mixed global market trends. The 30-share BSE benchmark advanced 303.38 points or 0.56 per cent to settle at 54,481.84. During the day, it jumped 448.68 points or 0.82 per cent to 54,627.14. The broader NSE Nifty went higher by 87.70 points or 0.54 per cent to end at 16,220.60.
Pharmaceutical majors like Ranbaxy, Dr Reddy's Lab, Wockhardt, Glenmark and Sun Pharma are now treading a careful patent litigation path in the US market to expand their generic business instead of the aggressive patent challenges they pursued until a few years ago.
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