Dr. Reddy’s shares hit record high! Pharma stock up 5% in 3 sessions
Shares of Dr. Reddy's Laboratories have risen 36% against its 52-week low of ₹5,212.10 touched on October 30, 2023.
Shares of Dr. Reddy's Laboratories have risen 36% against its 52-week low of ₹5,212.10 touched on October 30, 2023.
The pharma company has received approval to manufacture and market Mometasone Furoate Monohydrate Nasal Spray 50 mcg, which will be launched in Q1 FY25.
The share price of Cipla touched a new record high of ₹1,408.55, while market capitalisation climbed to ₹1.12 lakh crore.
Biocon Biologics, a subsidiary of Biocon, has signed a distribution agreement with Sandoz for an immunity-linked injection in Japan.
The homegrown pharma company has outperformed the BSE Sensex and Healthcare index in terms of returns in the last one year.
Three private equity funds, namely Chrys Capital, Capital Group, and Everbridge Partners, were reportedly looking to sell stakes worth $592 million in Mankind Pharma via the block deal.
Cipla South Africa has signed a binding term sheet with Actor Holdings to acquire 100% of the issued ordinary shares of Actor Pharma.
In the past one month, the share price has gained nearly 57%, while it more than doubled against its 52-week low of ₹861.5 touched on May 22, 2023.
The pharma company has declared its first interim dividend of ₹315 crore for FY24, which translates into ₹25 per share, or 1,250%, for each ₹2 face value share.
The stock has fallen nearly 27% since May 18, 2023, after the pharma company released its fourth-quarter results