Dr Reddy's reclaims spot as India's 2nd most valuable pharma company after Sun Pharma
Dr Reddy's Laboratories reclaimed the tag of being the second most valuable listed pharmaceutical company after its share price surged 14 per cent on Friday, surpassing drugmaker Divi's Laboratories. Dr Reddy's Labs market cap stood at Rs88700cr crore, while that of Divi's Laboratories was Rs 88700 crore. Both these stocks hit their respective highs on Friday. Sun Pharma is the most valued listed company of India with market cap of Rs 1.26lakh cr . Dr Reddy's Labs rallied 14 per cent to hit an intra-day high of Rs 5,497 after the company entered into a settlement agreement with Celgene Corp. With a favorable ruling in the appeals court, the odds of launching gVascepa also rise considerably. "gRevlimid is a large product with around US$7.5 billion sales annually. Assuming a launch from Jan'23 onward with a three-player market initially and full competition after FY26, our analysis yields an NPV of Rs 333 per share.