Dr Reddy's Laboratories share gained over 9% today after the company settled patent litigation for Revlimid with Celgene, a Bristol Myers Squibb Company, which allowed the company to sell Lenalidomide in the US post-March 2022.
The stock touched an all-time high of Rs 5,302 today rising 9.87% against previous close of Rs 4,826 on BSE. Dr Reddy's Laboratories share opened 3.61% higher at Rs 5,001 against previous close of Rs 4,826 on BSE.
Dr Reddy's Labs share stands higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.
The share has gained 90% in one year and risen 81.9% since the beginning of this year. Total 2.21 lakh shares changed hands amounting to turnover of Rs 113.35 crore on BSE. Market cap of the firm rose to Rs 86,696 crore on BSE. In four days, the share has gained 19.3%.
The share has gained 19.3% in the last 4 days.
Russian coronavirus vaccine to arrive in India in November, clearances pending
In a separate development, Russian Direct Investment Fund (RDIF) has agreed to supply 100 million doses of its coronavirus vaccine, Sputnik-V, to the Indian pharma firm. Dr. Reddy's will carry out Phase III clinical trials of the vaccine in India, pending regulatory approval.
Deliveries could potentially begin in late 2020 subject to completion of successful trials and registration of the vaccine by regulatory authorities in India, the pharma firm said.
After the news of vaccine supply came in, the stock has been hitting fresh highs on a daily basis.
Dr Reddy's settles patent suit with Celgene for Revlimid capsules
Stocks in news: Vedanta, Dr Reddy, Hindalco, EIH, TVS Motors