LIC increases its stake in Dr Reddy's Laboratories from 5.65 percent to 7.7 percent
LIC's holding in the company stands at 7.7 percent, it added.
New Delhi: Pharma major Dr Reddy's Laboratories Ltd on Monday said Life Insurance Corporation of India has increased its stake to 7.7 percent in the pharmaceutical firm through the purchase of 33.86 lakh shares from the open market over some time.
Life Insurance Corporation of India (LIC) earlier held around a 5.65 percent stake in the company, Dr Reddy's Laboratories (DRL) said in a regulatory filing.
Read also: LIC reduces stake in Sun Pharma; sells shares worth Rs 3,821 crore in over 1 year
Established on 1 September 1956, Life Insurance Corporation of India (LIC) is an Indian statutory body headquartered in Mumbai, Maharashtra, India. The statutory body is under the ownership of Ministry of Finance, Government of India.
Dr. Reddy's Laboratories Ltd. is an integrated pharmaceutical company headquartered in Hyderabad, Telangana, India. Its major therapeutic areas of focus are gastrointestinal, cardiovascular, diabetology, oncology, pain management, and dermatology.
Dr. Reddy's operates in markets across the globe. The company's major markets include - USA, India, Russia & CIS countries, and Europe.
Read also: Dr Reddy's Labs, DNDi ink pact to develop affordable drugs for neglected tropical diseases
Disclaimer: This website is primarily for healthcare professionals. The content here does not replace medical advice and should not be used as medical, diagnostic, endorsement, treatment, or prescription advice. Medical science evolves rapidly, and we strive to keep our information current. If you find any discrepancies, please contact us at corrections@medicaldialogues.in. Read our Correction Policy here. Nothing here should be used as a substitute for medical advice, diagnosis, or treatment. We do not endorse any healthcare advice that contradicts a physician's guidance. Use of this site is subject to our Terms of Use, Privacy Policy, and Advertisement Policy. For more details, read our Full Disclaimer here.
NOTE: Join us in combating medical misinformation. If you encounter a questionable health, medical, or medical education claim, email us at factcheck@medicaldialogues.in for evaluation.