Views on Dr Reddys are in pact with Amgen: Angel Broking

Views of Ms. Sarabjit Kour Nangra (VP Research - Pharma, Angel Broking)

Dr Reddy's in pact with Amgen:

"Dr Reddy's has entered into a strategic collaboration with Amgen, the biotechnology company, to market and distribute three Amgen medicines in India in the area of oncology and cardiology. Under the terms of collaboration, the drug major will perform a full range of regulatory and commercial services to seek approval and launch Kyprolis (carfilzomib), Blincyto (blinatumomab) and Repatha (evolocumab) in India. Kyprolis was approved by the US Food and Drug Administration in July 2015, in combination with lenalidomide and dexamethasone, for the treatment of patients with relapsed multiple myelomas who have received one to three prior lines of therapy. Blincyto is an example of immunotherapy, a treatment that uses certain parts of a person's immune system to fight diseases such as cancer. Repatha got approval from European Commission for marketing in July, which is used for the treatment of patients with uncontrolled cholesterol. The alliance will enhance its biotechnology product portfolio. On number terms it will not be that significant to the overall sales of the company. We maintain our NEUTRAL rating on the stock."

Shares of DR.REDDY'S LABORATORIES LTD. was last trading in BSE at Rs.4270.1 as compared to the previous close of Rs. 4194.95. The total number of shares traded during the day was 40694 in over 5698 trades.

The stock hit an intraday high of Rs. 4325 and intraday low of 4210. The net turnover during the day was Rs. 174539750.

Source : Equity Bulls

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