Dr. Reddy's Laboratories
(RDY - Get Report)
, is a vertically integrated pharmaceutical company focused on producing and delivering high-quality finished drugs and medicines through three business segments: Global Generics, Pharmaceutical Services and Active Ingredients; and Proprietary Products. The company has a research facility in Atlanta, Ga. The stock accumulated 2.6% over the past week.
Of the four analysts covering the stock, two recommend a buy and the rest suggest a hold. There are no sell ratings on the stock. A
poll expects the stock to gain an average 17.5% to $41.80 over the next 12 months.
During the past week, it was known that the company entered into an agreement with JB Chemicals & Pharmaceuticals to acquire its pharmaceutical prescription portfolio in Russia and other CIS regions for $35 million. As per the agreement, Reddy's would acquire 20 brands from JB Chemicals including key brands Metrogyl and Jocet.
In a separate development, Fujifilm Holdings said it would be forming a joint venture with RDY to develop generic drugs with the intention to tap Japan's growing generic-drug market. Japan is seeking to make up 30% of the overall drug market by March 2013, raising interest from overseas firms. In the JV, Fujifilm would own 51%, while Dr. Reddy's would hold 49%.