UPDATE: Credit Suisse Upgrades Dr. Reddy's Laboratories Limited to Outperform on Metropol Market Share
Credit Suisse raised its rating on Dr. Reddy's Laboratories Limited (NYSE: RDY) from Neutral to Outperform.
Credit Suisse said, "Our positive stance on Dr. Reddy's is driven by a strong pick-up in US sales in the coming quarters. Dr. Reddy's market share on Metoprolol has increased to 15% vs. expectation of 8-10%. Metoprolol market size is large at US$450 mn and is a high-margin product. Our interactions with Intas and Cadila suggested that Metoprolol approval for them is not a near-term event and therefore for at least the next six months Dr. Reddy's should continue to enjoy a high market share on Metoprolol."
Dr. Reddy's Laboratories Limited closed at $34.25 on Wednesday.
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