As many as 2.7 lakh shares changed hands in the counter on BSE.

The stock surged 3.3% to Rs 1,367.30 on Thursday (27 July) after its Q1 results were unveiled at the fag end of the trading session. After a setback in the stock during mid-May 2006 to early June 2006, the scrip largely remained range-bound amid intermittent rallies. The scrip moved between Rs 1,220 on the lower side and Rs 1,375 on the higher.

Dr Reddy's Laboratories (DRL) posted more than 300% surge in quarterly profit as it boosted sales of generic drugs and integrated two recent acquisitions. DRL said April-June net profit rose to Rs 140 crore from Rs 34.70 crore a year ago. Sales rose 150% to Rs 1,400 crore.

DRL last month launched the generic version of Merck's Proscar drug to treat enlarged prostates in the United States. The Hyderabad-based Indian pharma major bought Betapharm for $572 million earlier this year. Last year, it bought Roche's active pharmaceutical ingredients business in Mexico for $59 million.

In the same year, to mitigate cost pressures, DRL entered into a partnership with ICICI Ventures for developing and commercialising abbreviated new drug applications for two years. Further, the company was also involved in a three-way tie-up (ICICI Ventures and Citigroup Ventures being the other two) to form Perlecan Pharma, to which four molecules from the DRL drug discovery pipeline will be transferred for clinical development. These initiatives have served the company address the cost-revenue mismatch as it helped the company bring down R&D costs.