Dr. Reddy's Lab - Sep 17, 2020 - Angel Broking

Mr. Yash Gupta - Equity Research Associate, Angel Broking Ltd

"Dr. Reddy's Laboratories along with its subsidiaries together announces the launch of over-the-counter Olopatadine Hydrochloride Ophthalmic Solution USP, 0.2% and 0.1%, the storebrand equivalents of Pataday® Once Daily Relief and Pataday® Twice Daily Relief, in the U.S. market, as approved by the U.S. Food and Drug Administration (USFDA). Dr. Reddy's Olopatadine Hydrochloride Ophthalmic Solution USP, 0.2% and 0.1% are indicated for the temporary relief of itchy eyes due to pollen, ragweed, grass, animal hair and dander. The Olopatadine Hydrochloride Ophthalmic Solution USP, 0.1% is also indicated for the temporary relief of red eyes. The Pataday® brand had U.S. sales of approximately $31 million since the launch in March 2020 according to IRi*. This is one of the important additions to its OTC product portfolio in the USA for the company. This will be a positive development for the Dr. Reddy's laboratories."

Shares of DR.REDDY'S LABORATORIES LTD. was last trading in BSE at Rs.4631.55 as compared to the previous close of Rs. 4443.2. The total number of shares traded during the day was 98880 in over 10430 trades.

The stock hit an intraday high of Rs. 4651.95 and intraday low of 4411.5. The net turnover during the day was Rs. 451412307.

Source : Equity Bulls

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