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Dr. Reddy's Sells Stock

The company sells 12.5 million American depositary shares at $16 each.

Generic drugmaker

Dr. Reddy's Laboratories

(RDY) - Get Dr. Reddy's Laboratories Ltd. Sponsored ADR Report

has priced a public offering of 12.5 million American depositary shares at $16 each.

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The offering, which is expected to close on Nov. 22, excludes the underwriter's over-allotment option.

The company previously filed a registration and preliminary supplement prospectus with the

Securities and Exchange Commission

for a proposed offering of up to 13.5 million ADS's, excluding the over-allotment.