 "Dr Reddy's buys 8 drugs from Teva, Allergan in $350 mn deal")
Dr. Reddy's Laboratories Ltd posted a better-than-expected second-quarter net profit on Tuesday, helped by higher revenue from its European business, driving shares of the drugmaker up to a one-month high.
Revenue from the company's European global generics business rose more than 36 per cent from a year ago to Rs 242 crore, the Indian drugmaker said in a statement.
The company's net profit dropped marginally to Rs 305 crore, versus Rs 309 crore a year ago, but the number beat analysts' average estimate of Rs 288 crore, Thomson Reuters data shows.
Revenue from the company's global generics business in North America fell 11
