Dr.Reddy's hits life time high
By
Research Desk
about 11 years ago
Dr.Reddy’s has hit an all-time high today at Rs.2296.65 though it has since then slipped from this level and it is currently just about holding onto the green.
The stock is up on news reports saying that the company is now giving more focus on its European operations, which contributes over 9% of its total generic sales. And to tackle its falling German sales, the company plans to launch products outside the scope of tenders and plans to adopt a selective approach of picking its product portfolio. It also plans to concentrate on improving its sales in India and it plans to spend $200 million, or 7% of its sales, on R&D of which major part will be dedicated to biosimilars.