Dr Reddy’s Laboratories gains on plan to spend $400 million for R&D

Dr. Reddys Laboratories is currently trading at Rs. 2581.85, up by 32.75 points or 1.28 % from its previous closing of Rs. 2549.10 on the BSE. The scrip opened at Rs. 2550.00 and has touched a high and low of Rs. 2589.00 and Rs. 2522.00 respectively. So far 25809 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 2939.80 on 28-Feb-2014 and a 52 week low of Rs. 1846.45 on 15-Apr-2013. Last one week high and low of the scrip stood at Rs. 2676.50 and Rs. 2539.95 respectively. The current market cap of the company is Rs. 43804.73 crore. The promoters holding in the company stood at 25.52 % while Institutions and Non-Institutions held 40.90 % and 16.48 % respectively. Dr Reddy’s Laboratories is planning to spend around $400 million on research and development (R&D) over 3-4 years in biologics and proprietary products. The company had 21 active products in the proprietary products pipeline, of which six were in clinical development stage as on March 31, 2013. Moreover, the drugs currently in clinical development stage are targeted in the areas of cardiovascular disorders, psoriasis, pain, anti-infective atopic dermatitis/ psoriasis and migraine. The new drug research on metabolic disorders/ cardiovascular disorders is in Phase-II while the remaining five drugs are in the clinical stage. Dr. Reddy’s is an integrated global pharmaceutical company, committed to providing affordable and innovative medicines for healthier lives. Through its three businesses - Pharmaceutical Services and Active Ingredients, Global Generics and Proprietary Products - the company offers a portfolio of products and services including APIs, custom pharmaceutical services, generics, bio-similars, differentiated formulations and NCEs.