Dr Reddy's sees generics soar due to limited competition

11 February 2014

India’s second-largest drugmaker Dr Reddy's Laboratories (NYSE: RDY) has reported strong third quarter sales of 35.3 billion rupees ($566 million), representing year on year growth of 23%.

Earnings before interest, tax, depreciation and amortization (EBITDA) were 10.0 billion rupees, a year on year growth of 67%. Diluted earnings per share were 36.2 rupees, up 63% from 22.2 rupees the year before. According to analysts, the results were better than expectations, reported the Economic Times. The company said this was its highest ever quarterly sales and profitability. According to analyst tracking the pharma sector, the results were better than expectations and the stock might get re-rated after results.

Generics revenue up

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