Dr Reddy's rallies 2% on anti cancer drug

Stocks

oi-Sunil

By Sunil Fernandes

Published: Wednesday, September 18, 2013, 12:18 [IST]

Shares in Dr Reddy's Laboratories rallied 2% in trade after an almost 4% gains in trade on Monday.

The sharp rally was on the back of the company getting the approval of the US Food and Drug Administration (USFDA) to launch injectible medicine azacitidine, which is used in the treatment of bone marrow cancer and blood cell disorders.

The shares of the company were last trading at Rs 2352 on the Bombay Stock Exchange. A host of Indian pharma companies have been facing problems with drug exports to the US as the US FDA has issued import warning letters to quite a few of these companies.

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