Dr Reddy's shares up 5% on US FDA OK

Shares in drug maker Dr Reddy's Laboratories rose over 5 percent early in the day on a likely US FDA approval for its drug, two dealers said.

At 10.41 a.m. shares were at 1,594 rupees, up 3.29 percent, but off its high of 1,622.95 rupees, out of breath after the company said it has received U.S. FDA approval for its fondaparinux sodium injection and will also manufacture fondaparinux under license using a patented process developed by Alchemia Ltd.

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