Latest news with #Dr.Reddy'sLaboratories'
The Hindu
7 days ago
- Business
- The Hindu
Dr. Reddy's Q1 net inches up amid decline in generics sales to U.S.
Generic drugmaker Dr. Reddy's Laboratories' consolidated net profit for the June quarter increased marginally to ₹1,409.9 crore from Rs.1,392.4 crore year earlier as revenue from the all important U.S. market declined amid increased price erosion in certain key products. The net profit came on a more than 11% increase in total revenue from operations to ₹.8,572.1 crore (₹.7,696.1 crore), the results prepared as per Indian Accounting Standards (Ind AS) showed. Pricing pressure on cancer drug Lenalidomide is expected to intensify in the U.S. generics market, according to co-chairman and MD G.V. Prasad. He said this reaffirming the company's focus on strengthening the base business by delivery of our pipeline assets, improving overall productivity and business development.' On segment revenue, the company said global generics contributed ₹7,573.2 crore (₹.6,892.9 crore), while share of Pharmaceutical Services and Active Ingredients declined to ₹987.4 crore (₹1,047.2 crore). In a release, on the results prepared as per International Financial Reporting Standards (IFRS), Dr. Reddy's said revenue from the North America generics market at ₹3,410 crore was 11% lower a decline YoY of and 4% QoQ. The decline was primarily due to increased price erosion in certain key products, including Lenalidomide. Revenue from generics sales in Europe, India and Emerging Markets were higher year on year. The company's shares closed less than 1% higher at ₹1,247.55 each on the BSE.
The Hindu
24-05-2025
- Business
- The Hindu
U.S. FDA issues two observations to Dr. Reddy's API plant in Telangana
The United States Food and Drug Administration (U.S. FDA) has issued a Form 483 with two observations to generic drugmaker Dr. Reddy's Laboratories' active pharmaceutical ingredients (API) manufacturing facility in Miryalaguda, Telangana. The U.S. FDA conducted a Good Manufacturing Practices (GMP) inspection of the API manufacturing facility (CTO-5) in Miryalaguda from May 19-24. 'We have been issued a Form 483 with 2 observations, which we will address within the stipulated timeline,' the company said in a filing on Saturday.
