Dr Reddy's receives DCGI approval for esophageal cancer drug Zytorvi
Dr Reddy set out an expansion.
· BS Companies
Dr Reddy's Laboratories on Wednesday said it has received approval from the Drugs Controller General of India (DCGI) for Zytorvi (toripalimab), through which it aims to expand access to first-line immunotherapy for patients with advanced esophageal squamous cell carcinoma (ESCC) in India.
The analysis
Dr Reddy reported movement of 80%. Those are the figures as filed — what moves the price is how they sit against what the market already expected, not their absolute size.
Against that, the stock is -0.5% on the day at ₹1,236.40, and has returned +2.7% over three months. It sits 10% below its 52-week high. The pharma & healthcare sector has moved -6.7% over the same period, so Dr Reddy is running 9.4 points ahead of its peers.
For Dr Reddy, the question is how much of this is already reflected in the price and how much re-rates the pharma & healthcare peer set alongside it.
Market context
- The company directly in focus is DRREDDY.
- Sector exposure: Pharma & Healthcare.
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