Dr Reddy`s gained 1.29%

 Dr Reddy`s gained 1.29% to Rs 1,615 as the pharma major is introducing an European researched bronchodilator for the first time in India.


About 79,532 shares changed hands in the counter on BSE.

The stock has been rising steadily since January 2006. From Rs 1,033.25 on 16 January 2006, the stock touched Rs 1,431.85 on 29 April 2006, gaining 38% in four months. On 2 May 2006, the stock opened at Rs 1,450 to close at Rs 1,682, rising 17.4% in one day on the back of the Zocor ruling. The scrip later touched an intra-day high of Rs 1,754 on 8 May 2006. Later, the stock slipped and traded range bound.

Dr Reddy's Laboratories informed that the company has introduced for the first time in India, an European research product Doxofylline, a novel second-generation xanthine bronchodilator. The company has introduced this product under a license agreement from Kent Union, Hong Kong and marketing cooperation with Netherlands-based Pharma Company - Eurodrug Laboratories BV.

Doxofylline is introduced under the brand name 'Doxobid' and will be available in a special pack of 10's in 400 mg dosage. Doxobid is meant to treat patients suffering from asthma & COPD (Chronic Obstructive Pulmonary Disease).

In April, the US Food and Drug Administration granted final approval for the company's abbreviated new drug application (ANDA) for fexofenadine hydrochloride tablets 30 mg, 60 mg and 180 mg.

In early March 2006, Dr Reddy's Lab had completed the acquisition of 100 per cent of Betapharm Group, the fourth largest generic pharmaceuticals company based in Germany, for a total enterprise value of Euro 480 million in cash.

Earlier in February, the company and Argenta Discovery entered into an agreement for the joint development and commercialisation of a novel approach to the treatment of Chronic Obstructive Pulmonary Disease (COPD).

Recently, a federal court ruled that the US Food and Drug Administration (USFDA) had unfairly denied Israel-based Teva Pharmaceutical Industries' petition to exclusively market generic forms of Merck's $4 billion drug Zocor. In February, Dr Reddy's had struck a deal with US-based Merck to sell generic versions of Zocor, if some other company won a 180-day exclusivity deal after the patents expire. The patent on Zocor, or the generic simvastatin, expires on June 23. If the US FDA rules in favour of Teva, Dr Reddy's will be able to start selling a generic version along with the Israeli firm.

For Q3 December 2005, Dr Reddy`s reported 522.4% rise in net profit to Rs 27.01 crore (Rs 4.34 crore). Net sales grew 29.3% to Rs 473.96 crore (Rs 366.52 crore).