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Dr Reddy's shares hit new 52-week high on deal with Amgen

Dr Reddy's shares hit new 52-week high on deal with Amgen

Under the terms of the collaboration, Dr Reddy's shall undertake a full range of regulatory and commercial services to seek approval and launch the three drugs - Kyprolis, Blincyto and Repatha - in India

BT Online Bureau
  • New Delhi,
  • Updated Aug 6, 2015 4:40 PM IST
Dr Reddy's shares hit new 52-week high on deal with AmgenFile Photo

Dr Reddy's Laboratories shares on Thursday climbed as much as 3.2 per cent to hit a 52-week high of Rs 4,326.5 after the company announced a collaboration with global pharma major Amgen.

At 11.30 am, Dr Reddy's stock was trading at Rs 4,292.95, up 2.3 per cent from the previous close.

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The company said it has inked a pact with the US-based biotechnology firm  to market its three drugs used to treat heart diseases and cancer in India. The Hyderabad-based firm said it has entered into a strategic collaboration with Amgen to market and distribute three Amgen medicines in India in oncology and cardiology.

Under the terms of the collaboration, Dr Reddy's shall undertake a full range of regulatory and commercial services to seek approval and launch the three drugs - Kyprolis, Blincyto and Repatha - in India.

Shares of the company closed at Rs 4270.10 per share, up 1.79 per cent or 75.15 points on Bombay Stock Exchange.

Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
Published on: Aug 6, 2015 1:17 PM IST
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