Dr Reddy's Laboratories gained 1.89% to Rs 2,205.65 at 11:00 IST on BSE after the company said that its wholly owned subsidiary has started phase II trials of cancer drug.
The announcement was made after market hours yesterday, 12 September 2017.Meanwhile, the S&P BSE Sensex was up 66.12 points, or 0.21% to 32,224.78.
On the BSE, 18,641 shares were traded in the counter so far, compared with average daily volumes of 60,982 shares in the past one quarter. The stock had hit a high of Rs 2,206 and a low of Rs 2,171 so far during the day. The stock had hit a 52-week high of Rs 3,394.95 on 28 October 2016. The stock had hit a 52-week low of Rs 1,901.65 on 11 August 2017.
The stock had outperformed the market over the past one month till 12 September 2017, gaining 7.63% compared with the Sensex's 3.03% gains. The stock had, however, underperformed the market over the past one quarter, declining 17.56% as against the Sensex's 3.42% rise. The scrip had also underperformed the market over the past one year, dropping 31.02% as against the Sensex's 13.42% rise.
The large-cap company has equity capital of Rs 82.93 crore. Face value per share is Rs 5.
Aurigene Discovery Technologies, a wholly owned subsidiary of Dr Reddy's Laboratories, and Curis Inc., announced CA-170 program update following data presented at ESMO 2017. They announced plans to initiate a phase 2 trial of CA-170, a PDL 1-VISTA inhibitor to be conducted at sites in India.
The announcement was made following the presentation of preliminary data from the initial 34 patients with cancer treated in the dose escalation stage of phase 1 trial of CA-170 at the European Society for Medical Oncology 2017 Congress by Aurigene's collaborator and licensee of CA-170, Curis Inc., a biotechnology company focused on the development and commercialisation of innovative and effective therapeutics for the treatment of cancer. The trial has been conducted in the USA, South Korea and Spain.
On a consolidated basis, Dr Reddy's Laboratories' net profit declined 56.6% to Rs 66.60 crore on 2.5% rise in net sales to Rs 3315.90 crore in Q1 June 2017 over Q1 June 2016.
Dr Reddy's Laboratories is an integrated global pharmaceutical company.
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