Friday, 17 February 2017

Dr. Reddy`s Lab hits 52-week low on patent infringement

Shares of Dr Reddys Laboratories tanked nearly 4 percent on the Bombay Stock Exchange after the company said that United States District Court of New Jersey issued its opinion regarding Helsinn Healthcare patent infringement claims against the company’s proposed Palonosetron product. 

Weighed down by the development, shares of drugmaker declined as much as 3.66 per cent and touched 52-week low in intra-day trade at Rs 2803.50 apiece on the Bombay Stock Exchange. In a similar fashion, stocks of company fell 0.79 per cent to Rs 2,888.35 apiece on the National Stock Exchange. Meanwhile, the broader benchmark BSE Sensex was trading at 28,280.99, up 125.43 points, or 0.44 per cent.

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