Dr. Reddy`s Laboratories rises as its arm enters into agreement with Coya Therapeutics
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Dr. Reddy’s Laboratories is currently trading at Rs. 5805.25, up by 77.30 points or 1.35% from its previous closing of Rs. 5727.95 on the BSE.
The scrip opened at Rs. 5786.75 and has touched a high and low of Rs. 5848.50 and Rs. 5750.40 respectively. So far 4512 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 5986.20 on 24-Aug-2023 and a 52 week low of Rs. 4176.85 on 25-Jan-2023.
Last one week high and low of the scrip stood at Rs. 5854.75 and Rs. 5709.25 respectively. The current market cap of the company is Rs. 97113.59 crore.
The promoters holding in the company stood at 26.66%, while Institutions and Non-Institutions held 49.23% and 10.09% respectively.
Dr. Reddy’s Laboratories’ wholly-owned subsidiary -- Dr. Reddy's Laboratories SA has entered into a development and license agreement (the Agreement) with Coya Therapeutics, Inc. for the development and commercialization of COYA 302, an investigational combination therapy for the treatment of Amyotrophic Lateral Sclerosis (ALS).
Under the terms of the Agreement, Coya has granted Dr. Reddy’s an exclusive license to commercialize COYA 302, a proprietary co-pack kit containing combination of low dose IL-2 and CTLA-4 Ig (abatacept) in the United States, Canada, the European Union and the United Kingdom for ALS. This Agreement is in addition to the in-licensing agreement with Dr. Reddy’s signed in early 2023. Coya retains the right to commercialize COYA 302 for patients with amyotrophic lateral sclerosis (ALS) in Japan, Mexico and each country in South America. Coya will have responsibility for the clinical development of COYA 302 and for seeking regulatory approval for COYA 302 for patients with ALS in the United States.
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.
