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Dr. Reddy`s Laboratories rises as its step down arm inks distribution agreement with Novartis Pharma
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Dr. Reddy's Laboratories is currently trading at Rs. 5955.85, up by 71.50 points or 1.22% from its previous closing of Rs. 5884.35 on the BSE.
The scrip opened at Rs. 5884.35 and has touched a high and low of Rs. 5994.45 and Rs. 5875.90 respectively. So far 3064 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 6505.50 on 28-Feb-2024 and a 52 week low of Rs. 4483.10 on 31-May-2023.
Last one week high and low of the scrip stood at Rs. 5994.45 and Rs. 5794.00 respectively. The current market cap of the company is Rs. 99206.82 crore.
The promoters holding in the company stood at 26.65%, while Institutions and Non-Institutions held 47.44% and 10.55% respectively.
Dr. Reddy's Laboratories’ step down wholly owned subsidiary -- Dr. Reddy's Laboratories LLC, Russia (DRL LLC), has entered into a distribution agreement with Novartis Pharma LLC (Novartis Pharma) to sale and distribute the anti-diabetes products - Galvus and Galvus Met - leading brands among Dipeptidyl Peptidase-4 (DPP4) molecules having combined sales of around Rs 253 crore (around $30 million) as per IQVIA Moving Annual Total (MAT) March 2024, retail market, in Russia.
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.
