Dr Reddy's sees generics soar due to limited competition
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
This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.
Login to your accountTry before you buy
Free
7 day trial access
- All the news that moves the needle in pharma and biotech
- Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
- Receive The Pharma Letter daily news bulletin, free forever.
Become a subscriber
£820
Or £77 per month
- Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
- Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
- Daily roundup of key events in pharma and biotech.
- Monthly in-depth briefings on Boardroom appointments and M&A news.
- Choose from a cost-effective annual package or a flexible monthly subscription
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed
Chairman, Sanofi Aventis UK
Today's issue
Company Spotlight
More Features in Generics
Copyright © The Pharma Letter 2024 | Headless Content Management with Blaze