Dr. Reddy`s inches up on signing voluntary licensing agreement with Gilead Sciences
Dr. Reddy's Laboratories is currently trading at Rs. 6766.80, up by 19.85 points or 0.29% from its previous closing of Rs. 6746.95 on the BSE.
The scrip opened at Rs. 6745.05 and has touched a high and low of Rs. 6768.45 and Rs. 6690.00 respectively. So far 1769 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 7101.00 on 21-Aug-2024 and a 52 week low of Rs. 5212.10 on 30-Oct-2023.
Last one week high and low of the scrip stood at Rs. 6789.95 and Rs. 6663.00 respectively. The current market cap of the company is Rs. 112591.04 crore.
The promoters holding in the company stood at 26.65%, while Institutions and Non-Institutions held 48.41% and 10.36% respectively.
Dr. Reddy’s Laboratories has entered into a royalty-free non-exclusive voluntary licensing agreement with Gilead Sciences Ireland UC for the manufacture and commercialisation of the drug, Lenacapavir, in India and 120 other countries.
Lenacapavir is a United States Food and Drug Administration (USFDA) approved drug indicated for the treatment of human immunodeficiency virus type 1 (HIV-1) infection in heavily treatment-experienced adults with multidrug resistant HIV-1 infection failing their current antiretroviral regimen due to resistance, intolerance, or safety considerations. Additionally, Lenacapavir is currently under investigation for the prevention of HIV (PrEP) which is yet to be approved globally. Gilead Sciences first launched Lenacapavir under the brand name Sunlenca in the United States and Europe markets in the year 2022. It is a first-in-class HIV-1 capsid inhibitor.
Dr. Reddy's Laboratories is a multinational pharmaceutical company based in Hyderabad, Telangana in India. It manufactures and markets a wide range of pharmaceuticals in India and overseas.
