Dr Reddy's Laboratories shares rose as much as 1.9 per cent to hit a 52-week high of Rs 3,287.10 in morning trade today.
The company said it has launched memantine hydrochloride tablets, a copy of Actavis Plc Alzheimer's drug Namenda, in the United States. The drug has a market size of $1.4 billion in United States as per IMS Health and will have about 10 players competing, according to analysts.
"We expect Dr Reddy's to garner revenues of $10-$15 million upon launch," analyst Sapna Jhawar at Reliance Securities wrote in a note.
Dr Reddy’s shares were trading at Rs 3,804.50, up Rs 45.75 or 1.22 per cent on the BSE at about 11 am.