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Dr. Reddy’s Laboratories gains despite weakness over Dalal Street
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Dr. Reddy's Laboratories is currently trading at Rs. 1354.25, up by 28.25 points or 2.13% from its previous closing of Rs. 1326.00 on the BSE.
The scrip opened at Rs. 1328.95 and has touched a high and low of Rs. 1368.00 and Rs. 1318.35 respectively. So far 169678 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 1420.20 on 21-Aug-2024 and a 52 week low of Rs. 1094.88 on 21-Dec-2023.
Last one week high and low of the scrip stood at Rs. 1368.00 and Rs. 1243.75 respectively. The current market cap of the company is Rs. 112841.56 crore.
The promoters holding in the company stood at 26.64%, while Institutions and Non-Institutions held 49.01% and 10.13% respectively.
Dr. Reddy’s Laboratories has launched Toripalimab in India. Toripalimab is a New Biological Entity (NBE). It is the only immuno-oncology drug approved by various regulatory authorities around the world such as the United States Food and Drug Administration (USFDA), European Medicines Agency (EMA), Medicines and Healthcare products Regulatory Agency (MHRA), and others for the treatment of adults with recurrent or metastatic nasopharyngeal carcinoma (RM-NPC).
In 2023, the company entered into a license and commercialisation agreement with Shanghai Junshi Biosciences for Toripalimab. Under this agreement, the company obtained exclusive rights to develop and commercialise Toripalimab in 21 countries including India, South Africa, Brazil and various countries in Latin America. Additionally, the agreement allows the company to expand the scope of the license to cover Australia, New Zealand and nine other countries.
With this launch by the company, India becomes the third country in the world after China and the United States to receive access to this next generation PD-1 inhibitor 1. The company will market it under the brand name Zytorvi in India.
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.
