Dr Reddy's gains on US drug launch

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Shares in Dr Reddy’s Laboratories rose 1.7 percent after it launched the generic version of the anti-psychotic drug Seroquel made by AstraZeneca in the United States, dealers said.

The launch comes after a US judge refused to grant a preliminary injunction from London-based pharmarceutical firm AstraZeneca to stop sales of the generic version of a drug that had sales of $4.6 billion in the U.S. in 2011.

The stock hit a high of Rs 1,712.30 and a low of Rs. 1,680 so far during the day. The stock had hit a 52-week high of Rs.1,728.70 on 2 March 2012.

Agencies