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Dr Reddy's Laboratories share price gains over 2% on USFDA nod for migraine drug

Dr Reddy's Laboratories share price closed flat at Rs 3,822 on BSE

Aseem Thapliyal | May 7, 2020 | Updated 21:09 IST
Dr Reddy's Laboratories share price gains over 2% on USFDA nod for migraine drug
Dr Reddy's Laboratories share price rose up to 2.06% to the intraday high of Rs 3936.35 compared to the previous close of Rs 3,856 on BSE.

Dr Reddy's Laboratories share price climbed in trade today after the pharma firm said US FDA cleared its Celecoxib Oral Solution which is indicated for the acute treatment of migraine. The stock rose up to 2.06% to the intraday high of Rs 3936.35 compared to the previous close of Rs 3,856 on BSE.

It hit a fresh 52-week high of Rs 4,095 on April 22, 2020 and 52-week low of Rs 2,352 on August 14, 2019. Total 0.17 lakh shares changed hands amounting to turnover of Rs 6.44 crore on BSE.

Dr Reddy's Laboratories share price closed flat at Rs 3,822 on BSE. The pharma stock trades higher than 20 day, 50 day, 100 day and 200 day moving averages but lower than 5 day moving averages. Dr Reddy's Laboratories share price has gained 29.9% during the last one year. The stock has risen 32.84% since the beginning of this year.

ELYXYB or Celecoxib Oral Solution is the latest product emerging from Dr Reddy's portfolio of successful acute migraine treatments. The company is working to commercialise this product through partners.

Erez Israeli, CEO of Dr. Reddy's Laboratories, commented, "We are excited about the approval of ELYXYB. It reaffirms our commitment to innovation and to develop meaningfully differentiated products that address significant unmet needs of patients and physicians, leading to better health outcomes."

 The pharma firm said it would release its Q4 results on May 20. "Dr. Reddy's to release Q4 and full year FY 20 results on May 20, 2020 Earnings call slated for May 20 @ 5:15 PM IST / 7:45 AM  EDT," the firm said in a communication to BSE.

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