Dr Reddy's Laboratories shares gain on generic Zenatane launch
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Shares in Dr Reddy's Laboratories Ltd gain 2.1 percent after the company on Thursday said in a statement that it launched Zenatane, a generic version of Accutane drug, following its approval by the United States Food & Drug Administration (USFDA).
* The company added that the drug had $309 million in sales for the most recent twelve months ending January 2013, according to IMS Health.
* "Assuming an incremental 20-25 percent price drop and 20 percent market share, this could be $50 million per year revenue opportunity for Dr.Reddy's," Morgan Stanley said in a report.