Dr Reddy’s Laboratories reeled early Monday, plunging 9% after the New Jersey District Court granted a preliminary injunction against the sale of the generic version of Suboxone used for treating opioid dependence. The stock crashed 9.48% to hit a low of Rs 2,097.70 on the BSE.
Asian shares were lower on Monday, brushing off the firmer Wall Street lead as investor caution dominated ahead of the release of key Chinese economic data, which is expected to show signs of a slowdown.
In early Asian trade, MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.1 percent.
The Dow Jones Industrial Average rose 94.52 points, or 0.38 percent, to 25,019.41, the S&P 500 gained 3.02 points, or 0.11% to 2,801.31 and the Nasdaq Composite added 2.06 points, or 0.03% to 7,825.98.