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BUZZ-India's Dr. Reddy's Labs hits over 1-year low; firm's drug infringes U.S. patents
February 16, 2017 / 4:39 AM / 10 months ago

BUZZ-India's Dr. Reddy's Labs hits over 1-year low; firm's drug infringes U.S. patents

** Shares of Dr Reddy’s Laboratories fall as much as 3.9 pct, their lowest since Jan 22, 2016

** U.S. court finds the company’s anti-nausea drug, palonosetron hydrochlorid, infringes certain U.S. patents

** Company said it intends to pursue an appeal in due course bit.ly/2ks6WZY

** Stock among top losers on the broader NSE index

** Stock posts biggest intraday percentage loss since Nov 9, 2016

** About 480,000 shares traded, nearly double the stock’s 30-day average volume

** As of Wednesday’s close, stock down 4.9 pct this year

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