Page 4 - Diagnostics

Dr Reddy's PAT up 12% at Rs 1,113 cr in Q2; revenue rises 9% to Rs 6,305 cr

Dr Reddy's Laboratories Ltd on Friday said its consolidated profit after tax (PAT) for the quarter ended September 30, 2022 was up by 12 per cent at Rs 1,112.80 crore as against Rs 992 crore in the same quarter a year ago. Revenues during the quarter under discussion were up by nine per cent to Rs 6,305.70 crore compared to Rs 5,215.40 crore in the first quarter of FY '22. Commenting on the results, Co-Chairman and MD, G V Prasad said, "We are pleased with the strong financial performance in the current quarter, driven by the launch of Lenalidomide capsules in the US market. Our focus is to build a robust pipeline with products that improve affordability and access to patients globally. We continue to progress well in our productivity, innovation and sustainability agenda.

Diagnostic cos revenues to decline 7% in FY23 as Covid tests fall: Crisil

A fall in Covid-19 tests will lead to an up to 7 per cent dent in diagnostic companies' toplines in FY23, rating agency Crisil said on Wednesday. The fall in revenues in FY23 will come after a handsome 30 per cent growth in FY22 on higher testing, the agency said, attributing the fall in Covid testing in the ongoing fiscal to the waning intensity of the pandemic and also a preference for self-test kits. The operating profit margins, which had hit a decadal high of 28 per cent in FY22, will moderate to 24-25 per cent in FY23 on the decline in revenue and the higher operating expenses, driven by advertising and marketing costs, it said. Good cash generation, prudent capital spends (mainly on diagnostic equipment) and low debt levels will keep balance sheets at healthy levels, resulting in 'stable' credit profiles for diagnostic players, the rating agency said. The agency said it has analysed 11 players in the industry having an aggregate revenue of over Rs 6,500 crore to arrive at th

How artificial intelligence is making diagnosis faster and more accurate

It addresses the shortage of radiologists and pathologists and frees up doctors to deal with complex cases

Krsnaa Diagnostics enters B2C segment with chain of 600 diagnostic centres

Mainly a PPP and B2B player, the Pune-based chain offers disruptive pricing

Novel cutting-edge tech to diagnose heart failure in record time developed

The researchers said that the state-of-the-art technology uses magnetic resonance imaging (MRI) to create detailed 4D flow images of the heart.

Molbio Diagnostics looking to expand test menu on its Truenat platform

The company is also open to raising funds and has been in talks with PE and VC funds for the same

Krsnaa Diagnostics, Metropolis hit 52-week; fall up to 14% in one month

In the past one year, these stocks have slipped between 48 per cent and 51 per cent, as compared to 3 per cent gain in the Sensex

Torrent Pharma expected to enter diagnostics space in next 2-3 months

A company called Torrent Diagnostics Private Ltd was incorporated in February this year and has a Torrent Pharmaceuticals executive director as one of its directors

Results preview: Pharma margins likely to remain under pressure in Q1

Hospitals back to normalcy; tough road ahead for diagnostics

Theranos COO Ramesh Balwani found guilty of multimillion-dollar fraud in US

The federal jury in San Jose on Thursday found Pakistan-born Balwani, 57, guilty of two counts of conspiracy and ten counts of wire fraud through a multimillion-dollar scheme

Price rationalisation, consolidation likely in Indian diagnostic space

Competitive pricing, however, is here to stay, feel analysts and some industry insiders

Cipla to acquire 21% stake in diagnostic company Achira Labs for Rs 25 cr

The company has signed definitive agreements with Achira Labs for the purpose, Cipla said in a regulatory filing

Lots of interest in Metropolis, but we want a strategic fit: MD Ameera Shah

In a Q&A, the promoter and MD of the company talks about how the dynamics are changing in the diagnostics sector post Covid, and outlines her strategy for Metropolis 3.0

Covid-19: Analysts dump diagnostic firms for multiplexes on solid outlook

Experts believe the current news cycle may keep the stock prices of related players volatile in the near term, but any fundamental or direct impact, in the long run, remains improbable.

Why are analysts dumping diagnostics sector for multiplexes?

Soon after the news of rising Covid-cases in parts of India, diagnostic and multiplex stocks moved in opposite directions on Monday. Find out analysts' views on the two sectors and if should you worry

Near-term outlook prescription for diagnostic firms looks fragile

Competitive pressures, high valuations limit upsides for listed lab chains

Neuberg Diagnostics to double its labs in next two years: Chairman

Diagnostics chain Neuberg Diagnostics has plans to double its laboratories and touchpoints from present 150 labs and 1,000 touchpoints present across globe in next two years, company official said

Cipla partners with Genes2Me to launch Coronavirus RT PCR test kit

The kit is validated by the Indian Council of Medical Research (ICMR) and much more advanced than other RT PCR tests, the drug firm said

Redcliffe Lifetech raises $61 mn for expansion; LeapFrog Investments leads

The funding to Redcliffe Lifetech would help the diagnostic platforms to expand access to affordable, high-quality diagnostic tests across India, especially in tier 2, 3, and 4 cities

SpiceJet's Ajay Singh starts healthcare and diagnostics platform Flebo

Flebo, a one-stop destination that allows booking of healthcare and diagnostic tests from any lab of the customer's choice, has launched in Delhi, Gurugram and Noida