Dr Reddy's Labs stock prices gain over launch of COVID-19 treatment drug

Dr Reddys Laboratories share price added a percent in the morning session on June 28 after the company launched 2-deoxy-D-glucose (2-DG), a therapeutic application for treatment of COVID-19 patients.

The stock was trading at Rs 5,352.10, up Rs 40.75, or 0.77 percent at 09:44 hours. It has touched an intraday high of Rs 5,381.85 and an intraday low of Rs 5,312.65.

Dr Reddy's Labs announced the commercial launch of 2-deoxy-D-glucose (2-DG). The company will supply to major Government as well as private hospitals across India. In the initial weeks, the Company will make the drug available in hospitals across metros and Tier 1 cities, and subsequently expand coverage to the rest of India, the company said in an exchange filing.

The launch came a day after the US Supreme Court rejected a bid by the Amarin Corporation to revive six patents of Vascape. In 2020, the Federal Circuit court ruled in favour of Dr Reddy's and another generic drug-maker Hikma Pharmaceuticals that had challenged Amarin's patent claims over the drug.