Dr. Reddy's Laboratories rises on getting USFDA`s approval for rituximab biosimilar
Dr. Reddy's Laboratories is currently trading at Rs. 1163.35, up by 15.75 points or 1.37% from its previous closing of Rs. 1147.60 on the BSE.
The scrip opened at Rs. 1174.95 and has touched a high and low of Rs. 1175.00 and Rs. 1161.05 respectively. So far 18082 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 1414.40 on 29-Jun-2026 and a 52 week low of Rs. 1080.05 on 23-Jul-2026.
Last one week high and low of the scrip stood at Rs. 1,175.00 and Rs. 1130.60 respectively. The current market cap of the company is Rs. 97081.14 crore.
The promoters holding in the company stood at 26.64%, while Institutions and Non-Institutions held 52.40% and 9.55% respectively.
Dr. Reddy's Laboratories has received approval from U.S. Food and Drug Administration (USFDA) for its rituximab biosimilar, a biosimilar to Rituxan (rituximab), for the U.S. market. The approval further strengthens its growing global biosimilars portfolio and advances its biosimilars business in the United States. Rituximab is a monoclonal antibody that selectively targets the CD20 protein expressed on B-cells. By binding to CD20, rituximab induces B-cell depletion through multiple immune-mediated mechanisms.
The product was developed, manufactured and submitted for approval by Dr. Reddy's Laboratories. The approval follows the successful recent Pre-License Inspection (PLI) conducted by the USFDA at the Company's biologics manufacturing facility in Bachupally, Hyderabad, and reflects the company's capabilities in bringing complex biologic medicines to highly regulated markets and its long-standing commitment to biosimilars.
Under a commercialization agreement, Fresenius Kabi holds the exclusive rights to commercialize the product in the United States, one of the world's most important pharmaceutical markets. The rituximab biosimilar has been commercialized in India, the European Union, the United Kingdom and more than 25 emerging markets, and has also received marketing approval in Switzerland and Canada.
