Dr Reddy's gains on launch of Moxifloxacin Hydrochloride - The New Indian Express

Dr Reddy's gains on launch of Moxifloxacin Hydrochloride

Published: 05th March 2014 01:19 PM

Last Updated: 05th March 2014 01:19 PM

Dr Reddy's Laboratories, an integrated global pharmaceutical company, gained on Wednesday after it launched Moxifloxacin Hydrochloride tablets, 400 mg, a therapeutic equivalent generic version of Avelox tablets 400 mg in the US market on Mar. 4, 2014, following the approval by the United States Food & Drug Administration (USFDA).

The Avelox tablets brand had U.S. sales of approximately USD 195 million for the most recent twelve months ending December 2013 according to IMS Health.Shares ofthe companyare trading at Rs 2,828, up Rs 25.45, or 0.91% at the Bombay Stock Exchange (BSE) on Wednesday at 11:57 a.m.The scrip has touched an intra-day high of Rs 2,852.50 and low of Rs 2,815. The total volume of shares traded at the BSE is 6,133.In the earlier session, the shares declined 0.45%, or Rs 12.75, at Rs 2,802.55. Currently, the stock is trading down 3.8% from its 52-week high of Rs 2,939.80 and above 63.21% over the 52-week low of Rs 1,732.75.

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