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BUZZ-India's Dr.Reddy's Labs rises on drug launch in U.S. market
October 3, 2017 / 6:51 AM / 2 months ago

BUZZ-India's Dr.Reddy's Labs rises on drug launch in U.S. market

** Drugmaker Dr.Reddy’s Laboratories Ltd shares up as much as 3.7 pct to 2,415 rupees, their highest since Sept. 28

** Company launched Sevelamer Carbonate Tablets, a drug used to treat severe kidney disease, in the U.S. market on Friday

** The launch can add 7 pct to company’s FY18 earnings per share - Jefferies

** REDY’s new launch and the recent win in a lawsuit over opioid addiction treatment drug Suboxone highlight the strength of complex product launches from the company; however concerns on facility standards still remain - Jefferies

** Dr. Reddy’s was one of the drugmakers sued by Indivior’s U.S. subsidiary alleging infringement of a patent regarding Suboxone

** Jefferies retained “underperform” rating with a price target of 2,150 rupees

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