Page 4 - Dr Reddy's Laboratories Limited

Dr Reddy's Laboratories Q2 results: Net profit rises 33% to Rs 1,480 crore

The company said that the Ebitda was enabled by geographic diversification and productivity improvement in operations

Dr Reddy's Q2 results: Net profit after tax rises 33% to Rs 1,482 crore

Consolidated quarterly revenue rose 9% to 69.03 billion rupees led by a 9% growth in the key global generics segment

Dr Reddy's Lab launches generic diabetes medication in US market

Dr Reddy's Laboratories on Thursday said it has launched a generic diabetes medication in the US market. The drug major has launched Saxagliptin and Metformin Hydrochloride extended-release tablets in the US market, the Hyderabad-based company said in a statement. The company's product is a therapeutic equivalent generic version of Kombiglyze XR tablets, it added. Dr Reddy's Saxagliptin and Metformin Hydrochloride extended-release tablets are supplied in a strength of 2.5 mg/1000 mg in bottle count of 60 and strengths of 5 mg/500 mg and 5 mg/1000 mg each in bottle counts of 30, the company said.

Dr Reddy's hits new high, soars 13% in 1 month; m-cap nears Rs 1-trn mark

The stock hit a new high at Rs 5,850 on gaining 3 per cent in an otherwise weak market.

Dr Reddy's gains nearly 3% post completion of USFDA inspection at AP unit

The stock hit a fresh 52-week high at Rs 5,360, and has rallied over 19 per cent in less than two months.

Dr Reddy's Labs Q4 result: PAT up 9 times, div declared at Rs 40 per share

Its revenue from operations stood at Rs 5,843 crore in Q4 FY23, up 15.28% YoY as compared to Rs 5,068.4 crore in Q4FY22

Dr Reddy's Laboratories launches Regadenoson injection in US market

Dr Reddy's Laboratories Ltd on Friday announced the launch of Regadenoson injection, used as an agent in the imaging of heart muscle to check blood flow, in the US market. Regadenoson injection is supplied as single-dose pre-filled syringes, 0.4mg/5ml (0.08 mg/ml). It is a generic therapeutic equivalent of Lexiscan injection, approved by US Food and Drug Administration (USFDA), Dr Reddy's said in a regulatory filing. The injection is a pharmacologic stress agent for radionuclide myocardial perfusion imaging (MPI) in patients unable to undergo adequate exercise stress. In a separate filing, Dr Reddy's said it has issued a Form 483 with one observation by the USFDA after a routine GMP inspection at its API manufacturing facility (CTO 1) in Bollaram, Hyderabad. "The inspection was conducted from May 1, 2023 to May 5, 2023. We have been issued a Form 483 with one observation, which we will address within the stipulated timeline," the company said. As per USFDA, Form 483 is issued to a

Overall breadth needs to improve for a reversal in Indian market

Over half of the Nifty 500 stocks are trading below 200-DMA, this points to a weak strength. Market breadth needs to improve if further highs are to be set

Dr Reddy's Lab Q3 net up 77% at Rs 1,247 cr, revenue from operations jump

Dr Reddy's Laboratories on Wednesday reported a 77 per cent increase in its consolidated net profit at Rs 1,247 crore in the third quarter ended December 31, 2022. The drug firm had reported a net profit of Rs 706 crore in the October-December period of the previous fiscal. Revenue from operations rose to Rs 6,770 crore during the period under review as against Rs 5,320 crore in the year-ago period, Dr Reddy's Laboratories said in a regulatory filing.

Claims against Dr Reddy's Laboratories over Revlimid in US dismissed

Dr Reddy's Laboratories on Thursday said all claims against it in the antitrust litigation filed in the US, related to a prescription medicine Revlimid, used in treatment of multiple myeloma have been dismissed. In a regulatory filing, the company said on December 22, 2022 and December 27, 2022, the plaintiffs voluntarily dismissed Dr Reddy's Laboratories Ltd and Dr Reddy's Laboratories, Inc. respectively, from the case. "All claims against the company in the litigation have now been dismissed," Dr Reddy's said. Last month the company had stated that it was among several generic pharmaceutical companies, including Celgene and Bristol Myers Squibb, against which an antitrust litigation has been filed in the District of New Jersey, USA. The complaint had asserted "claims under federal and state antitrust law and other state laws alleging that defendants improperly restrained competition and maintained a shared monopoly in the sale of brand and generic Revlimid in the United States."

After the anti-diabetic market, India's cardiac market in for a shake-up

After the anti-diabetic market, India's cardiac market in for a shake-up

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.

India facilities of Cipla, Dr Reddy's Labs, join Global Lighthouse Network

The World Economic Forum on Tuesday announced the addition of 11 factories and industrial sites, including three from India, to its Global Lighthouse Network. From India, the additions are pharma major Cipla's Indore facility, Dr Reddy's Laboratories' Hyderabad facility and the Mondelez facility in Sri City. The Global Lighthouse Network is a community of over 100 manufacturers that are showing leadership in applying Fourth Industrial Revolution technologies such as artificial intelligence, 3D-printing and big data analytics. The WEF further said four lighthouse members with outstanding environmental footprint reductions have been given an additional designation of Sustainability Lighthouses. These four include Unilever's Dapada facility in India. The WEF said that amid warnings of a global recession, energy price hikes and disrupted supply chains, the lighthouse factories offer business leaders and policymakers examples of how the manufacturing sector can stay competitive and ...

LIC increases its stake in Dr Reddy's Laboratories to 7.7% from 5.65%

Dr Reddy's Laboratories Ltd on Monday said Life Insurance Corporation of India has increased its stake to 7.7 per cent in the pharmaceutical firm through purchase of 33.86 lakh shares from open market over a period of time. Life Insurance Corporation of India (LIC) earlier held around 5.65 per cent stake in the company, Dr Reddy's Laboratories (DRL) said in a regulatory filing. Between June 15, 2022 and September 30, 2022 LIC purchased 33,86,486 shares of DRL, aggregating 2.034 per cent stake from the open market, it added. Subsequently, LIC's holding in the company stands at 7.7 per cent, it added.

Adani Green could replace Dr Reddy's in Sensex during December review

If added, Adani Green will be the first stock from the group in Sensex. After the inclusion of Adani Enterprises by September-end, Nifty will have two Adani group constituents

Dr Reddy's Q1 PAT soars 108% to Rs 1,188 cr; revenue rises 6%

Other operating income was at Rs 600 crore compared to Rs 50 crore in Q1FY22

Dr Reddy's Lab says its Andhra plant gets two observations from USFDA

Dr Reddy's Laboratories Ltd on Thursday said the US health regulator has issued Form 483 with two observations after inspecting its manufacturing facility located at Srikakulam in Andhra Pradesh. As per USFDA, Form 483 is issued to a firm's management at the conclusion of an inspection when the investigator has observed any conditions that in its judgment may constitute violations of the Food Drug and Cosmetic (FD&C) Act and related Acts. The US Food and Drug Administration (USFDA) completed a pre-approval inspection at the company's formulations manufacturing facility FTO 11 in Srikakulam, Andhra Pradesh on Thursday, Dr Reddy's said in a regulatory filing. The inspection was conducted from June 30, 2022 to July 7, 2022. "We have been issued a Form 483 with two observations, which we will address within the stipulated timeline," the company added.

JB Chem gets board approval to acquire Dr Reddy's 4 brands for Rs 98 cr

JB Chemicals & Pharmaceuticals on Thursday said its board has approved a proposal to acquire four paediatric brands from Dr Reddy's Laboratories for about Rs 98 crore. The company's board at its meeting held on June 29, has considered and approved the acquisition of a portfolio of brands, for use sales within India, from Dr Reddy's Laboratories, the drug maker said in a regulatory filing. The company has inked a pact with Dr Reddy's Laboratories to acquire four of its brands -- Z&D, Pedicloryl, Pecef and Ezinapi -- for the India market, it added. All four brands are focused on the paediatric segment in the country with a total covered market size of Rs 1,800 crore as per IQVIA data, JB Chemicals & Pharmaceuticals said. The combined sales of these brands stood at around Rs 33 crore for FY 2021-22, it added. The acquisition, which will be funded primarily through long-term debt, will be completed in the next few working days, the drug firm stated.

Dr Reddy's subsidiary inks pact with US-based Olema Pharmaceuticals

Dr Reddy's Laboratories on Thursday said its subsidiary has inked a pact with US-based Olema Pharmaceuticals Inc to research, develop and commercialise novel small molecule inhibitors of a target

Torrent Pharma acquires four therapy segment brands from Dr Reddy's

Styptovit-E, a gynaecology product, has an estimated market size of roughly Rs 500 crore, according to data from AIOCD, a pharmaceutical market research company