DR. REDDY'S SHARES JUMP ON DRUG RULING
Shares in drug maker Dr. Reddy's Laboratories Ltd. jumped as much as 18.5 per cent on Tuesday, after a U.S. court ruling in favour of a rival on a generic cholesterol drug was seen to benefit the Indian firm too. On Monday, a federal court ruled that the U.S. Food and Drug Administration (FDA) had unfairly denied Israel-based Teva Pharmaceutical Industries Ltd.'s petition to exclusively market
generic forms of Merck's $4-billion drug Zocor. The issue was sent back to the FDA, Teva said.