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Bloomberg Quint

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Image Credit: Bloomberg Quint

Dr Reddy's Labs Falls Most In Over A Year As Brokerages Cut Target Over Revlimid Concern

  • Dr Reddy's Laboratories' stock fell the most in over a year following brokerages' target price cuts after the company announced its results for the December quarter.
  • Brokerages believe that the pharma major's loss in market share of generic Revlimid or gRevlimid will negatively impact its performance.
  • The company's Q3 numbers were subdued and missed expectations, primarily due to market share loss in certain products and decline in gRevlimid sales.
  • The stock fell as much as 6.66% and traded 5.2% lower, compared to a flat NSE Nifty 50 Index.

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