New Delhi. For the last two days, pharma company Dr Reddys has been in the news continuously. Earlier, there were discussions about the company due to the agreement with Russia regarding Corona Vaccine. At the same time, now there are talks about the company’s shares. On Friday, it rose 10 percent to reach the price of Rs 5300. The company’s stock has touched this level for the first time. Today, with a rise of 10 percent, Dr Reddy’s market cap increased to around Rs 88110 crore. Whereas yesterday the company’s market cap was Rs 80239 crore. At the same time, in 6 months, the wealth of investors increased from Rs 41521 crore to Rs 88109 crore i.e. more than doubled. Experts say that Dr Reddy’s has settled the patent dispute related to cancer drug Revlimid with Celgene. The company will now be able to sell this drug in the US after March 2022. After this news, the stock has gained momentum.
Investors from all over the world are buying Dr. Reddy’s shares in large numbers- Dr Reddy’s stock has fallen by 1.5% in a week It has given bumper returns of 21 percent, 18 percent in 1 month, 91 percent in six months, 95 percent in one year.
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What should investors do now? The world’s largest rating agency Credit Suisse has given an outperform rating to Dr. Reddy’s and has raised the target from Rs 5100 to Rs 5750. Cash flow of up to $700 million is possible from Revlimid generic. It is one of the two companies selling Avigan in the US. The company can increase its market share in Suboxone.
At the same time, American bank Citi has said in its report that it can launch Revlimid in the US after March 2022. This will be the third settlement for Revlimid after Natco and Alvogen.
A big deal has been made regarding the Corona vaccine – The Russian Direct Investment Fund (RDIF) will work with Dr. Reddy’s Laboratories for testing and distribution of its Sputnik-5 vaccine against Covid-19 in India.
RDIF Chief Executive Officer Kirill Dmitriev gave this information on Wednesday. He said that RDIF is in talks with Indian regulators to ensure that all the necessary conditions are met for the clinical trial of the vaccine.
Dmitriev said in an email interview to PTI-Bhasha, “RDIF and India-headquartered global pharmaceutical company Dr. Reddy’s Laboratories Ltd have agreed to supply 10 crore Russian Sputnik-5 vaccines and they will also work together on clinical trials and distribution of the vaccine in India.
Sputnik-5, the vaccine against the coronavirus, has been jointly developed by the Gamaleya National Institute of Pathology and Microbiology and RDIF. Dmitriev said that additional clinical studies of Sputnik-5 will be conducted in other countries including Brazil, India, Saudi Arabia, Egypt, the United Arab Emirates and Belarus. Russia said earlier this month that it was in touch with Indian officials on the issue of the vaccine.
Tags: Corona vaccine, Corona Virus, Pharma Industry, Pharmaceutical companies
FIRST PUBLISHED : September 18, 2020, 13:40 IST