Court ruling in favour Dr. Reddy’s Lab energizes scrip
DSIJ Intelligence / 01 Sep 2017
After the District Court of Delaware in the US ruled in favour of Dr. Reddy’s Laboratories against Reckitt Benckiser for the Suboxone Film drug, the scrip of the company shot up by nearly 7.9% on an intraday basis.
After the District Court of Delaware in the US ruled in favour of Dr. Reddy’s Laboratories against Reckitt Benckiser for the Suboxone Film drug, the scrip of the company shot up by nearly 7.9% on an intraday basis.
The company had bought Suboxone Film’s abbreviated new drug application (ANDA) from Teva Pharmaceuticals in June 2016 with seven generic filers. The key patent will expire in April 2024. Suboxone Film specialises in treatment of opioid addiction and has a brand size of USD 1.7 billion in America, as per IMS Health data.
The stock was trading up by 7.30% at Rs 2,167.95 per share on the BSE at 1010 hours. It opened at Rs 2,130 per share and touched its intraday high and low at Rs 2,180.05 and Rs 2,121.30 per share respectively.
The stock attracted total traded volume of 13,82,835 shares and traded value of Rs 31,987 lakhs on the NSE at 1012 hours. Its 52-week high stood at Rs 3,399 as on October 2016 and 52-week low at Rs 1,901.15 as on August 11, 2017.
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