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Dr Reddy's Laboratories shares rise over 3 per cent on new drug launch

At 12.20 pm, shares of Dr Reddy's were trading 2.86 per cent higher at Rs 3,586.

BT Online Bureau        Last Updated: May 18, 2015  | 16:48 IST
Dr Reddy's shares rise over 3% on new drug launch

Shares of Dr Reddy's Laboratories jumped 3.48 per cent on Monday after the drug maker launched a new drug for stroke or brain surgery patients.

Dr Reddy's had last week announced the launch of Somazina, the innovator brand of Citicoline, in the Indian market. Somazina is indicated for improving cognitive function in patients who have suffered from stroke or cerebral infarction, or who have undergone a brain surgery or have suffered from head injuries.

"With the launch of Somazina and our recent acquisition of Nootropil, through the UCB brands acquisition, we look forward to building our presence in the neurology segment and making a difference to the lives of patients who have had the misfortune to suffer a stroke," Alok Sonig, senior vice president and head of India Business at Dr Reddy's said at the launch.

According to the Global Burden of Disease Study 2013, about 15 lakh people suffer from stroke in India each year. Cerebral stroke is the third leading cause of death in India.

At 12.20 pm, shares of Dr Reddy's were trading 2.86 per cent higher at Rs 3,586.

 

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