Ranbaxy Laboratories rose 0.15% to Rs 446 at 11:58 IST on BSE after the company said in collaboration with Virchow Biotech, Hyderabad, India it had launched BONISTA- Teriparatide injection for the treatment of Osteoporosis.
The company made this announcement during trading hours today, 3 April 2008.
On BSE, 15,152 shares were traded in the counter. The scrip had an average daily volume of 4.02 lakh shares in the past one quarter.
The stock hit a high of Rs 451.95 and a low of Rs 442.75 so far during the day. The stock had a 52-week high of Rs 490 on 21 November 2007 and a 52-week low of Rs 299.90 on 22 January 2008.
The company's current equity is Rs 186.58 crore. Face value per share is Rs 5.
The current price of Rs 446 discounts its Q4 December 2007 annualized EPS of Rs 5.19, by a PE multiple of 85.93.
Ranbaxy is the first company to launch this bio generic product in the world. The Osteoporosis segment in India has a market size of around Rs 219 crore.
Virchow Biotech is engaged in research, development, manufacture and marketing of a wide range of unique classical biologicals and high value recombinant bio-generic products for serious life-threatening diseases at affordable prices.
On 18 March 2008, Ranbaxy Laboratories (RLL) entered into an exclusive marketing agreement for India and Nepal with CD Pharma for Inersan, a patented probiotic preparation.
In February 2008, RLL received approval from the US Food and Drug Administration to manufacture and market cefuroxime axetil for oral suspension in United States.
RLL's net profit declined 65.2% to Rs 48.40 crore on 1.2% fall in net sales to Rs 993.32 crore in Q4 December 2007 over Q4 December 2006.
Ranbaxy Laboratories is India's largest drug maker