Dr. Reddy's Sells Stock

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

Dr. Reddy's Laboratories

(RDY) - Get Report

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

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.