The brokerage is positive on Dr Reddy’s growth trajectory, given its focus on limited competition generics in the US and the bio-similars opportunity longer term.
Shares of Dr Reddy’s Labs were up over 1 percent intraday on Monday.
JP Morgan remains overweight on the pharma major with a target price of Rs 3000, implying 15 percent upside from the current market price.The brokerage is positive on Dr Reddy’s growth trajectory, given its focus on limited competition generics in the US and the bio-similars opportunity longer term.
The pharma company has nine new drugs in clinical stage.
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