Page 10 - Dr Reddy's Laboratories
Dr Reddy's Q3 profit down 29% at Rs 3.3 bn on higher price erosion
BS ReporterHyderabad, 25 January: Indian pharmaceutical major Dr Reddy's Laboratories Limited has reported a 29 percent decline in consolidated net profit at Rs 3.34 billion for the quarter ended December 2017 on the back of higher price erosion, increased competition and the impact of adverse foreign exchange in the US and European markets.However, the company was able to post a 3 percent increase in consolidated revenues at Rs 38.06 billion during the third quarter under review as compared with Rs 37.07 billion in the corresponding quarter previous year. "We had a satisfactory third quarter performance with all our key markets performing well. We recorded sequential revenue growth of 7 percent despite continuing challenges such as price erosion in the USA. Our first-cycle NDA approval of Impoyz is a significant milestone in the commercialisation o four proprietary products pipeline. We will continue our focus on operational excellence and controlling of SG&A(selling, general and
 "Dr Reddy's Q3 profit down 29% at Rs 3.3 bn on higher price erosion")
Dr Reddy's Q3 profit tumbles 38% as sales decline on US pricing pressure
Net profit was Rs 3.03 billion in the third quarter ended December 31
 "Dr Reddy's Q3 profit tumbles 38% as sales decline on US pricing pressure")
Dr Reddy's falls on buzz of issues raised in EIR for Duvvada plant
The stock dipped 4.5% to Rs 2,299 on the BSE in intra-day trade.
 "Dr Reddy's falls on buzz of issues raised in EIR for Duvvada plant")
Dr Reddy's settles blister package case with US govt for $5 mn
BS ReporterHyderabad, 19 December: Indian drug major Dr Reddy's Laboratories Limited has reached a settlement with the US Government agencies for $ 5 million in a six year old case regarding complaints of potential harm from the package of blister-packed prescription products to children.In June last year US Consumer Product Safety Commission(CPSC) has requested the US Department of Justice to impose civil penalty on Dr Reddy's for alleged violations of provisions related to child resistant packaging in at least five prescription drugs.While disagreeing with these allegations, the company on Tuesday said it has chosen to settle the matter in order to avoid any unnecessary costs and the distractions of prolonged litigation. In a joint filing by the parties, Dr Reddy's and the US Department of Justice agreed to the settlement of the action without any adjudication of any issue of fact or law.In an investigation conducted between 2008 and 2012, US CPSC held that the company sold ...
Plant clearance removes overhang for Dr Reddy's
Nod to Bachupally plant raises hopes for clearance of its Srikakulam unit
 "Plant clearance removes overhang for Dr Reddy's")
Dr Reddy's rallies after receiving EIR from USFDA
The stock was trading 3% higher at Rs 2,498, after rallying 10% in intra-day trade as the company received EIR from the USFDA for Vishakhapatnam facility, but the inspection has not closed.
 "Dr Reddy's rallies after receiving EIR from USFDA")
Dr Reddy's prospects hinge on FDA clearances
Non-US geographies grow well in Q2; cost controls support profitability
Dr Reddy's up 4% after receiving EIR from USFDA for Srikakulam Unit I
In past one month, the stock has outperformed the market by surging 17% as compared to 2% decline in the S&P BSE Sensex
Dr Reddy's strong drug pipeline comes to the fore
Dr Reddy's was the biggest gainer among the Sensex stocks as brokerage upgrades as well as US FDA approval for one of its plants saw the stock move up nearly 7.5 per cent. The easing regulatory pressures and plant approvals helps the company launch new products and capitalise on niche opportunities. This is the second unit that has received the establishment inspection report after Miryalaguda (Telengana) got the green signal from the US FDA in February this year. The receding plant related worries means that the street will now turn to the company's product portfolio and launch timeline to gauge the revenue potential in the US market. Deepak Malik of Edelweiss Securities believes that a large and increasing complex generics pipeline in the US, tripling of biosimilar revenues to $150 million over the FY18-20 period will lead to a 53 per cent growth in the company's net profit over the same period. Analysts believe that a strong product pipeline (including niche opportunities) should .
 "Dr Reddy's strong drug pipeline comes to the fore")
Dr Reddy's shares jump 7.5%; m-cap rises by Rs 2,864 cr
On NSE, shares of the company soared 7.42% to close at Rs 2,486.55
Dr Reddy's Labs gains as Srikakulam SEZ Unit II get EIR from USFDA
The stock moved higher by nearly 7% to Rs 2,466 on BSE in an otherwise weak market
 "Dr Reddy's Labs gains as Srikakulam SEZ Unit II get EIR from USFDA")
US FDA makes 3 observations after inspecting Dr Reddy's UK plant
Form 483 issued to the firm's management over violation of regulatory norms
Dr Reddy's falls as firm gets 6 observations in Duvvada facility audit
The stock dipped 7% to Rs 2,066 on NSE in intra-day trade
Dr Reddy's falls 9% in two days on disappointing Q1 results
The stock dipped 6% to Rs 2,470, extending its previous day's 3% decline on BSE
 "Dr Reddy's falls 9% in two days on disappointing Q1 results")
Dr Reddy's out licenses phase-3 clinical trial drug to CHD Biosciences
The drug candidate is used for the prevention of surgical site infections
 "Dr Reddy's out licenses phase-3 clinical trial drug to CHD Biosciences")
USFDA observations 'unmistakably' beneficial in long run: Dr Reddy's
Dr Reddy's adds that these observations helped the company to accelerate pace of quality reforms
 "USFDA observations 'unmistakably' beneficial in long run: Dr Reddy's")
Dr Reddy's announces commercialisation of Vozet tablets in India
Vozet tablets are used for the treatment of allergic Rhinitis and chronic Urticaria
 "Dr Reddy's announces commercialisation of Vozet tablets in India")
Dr Reddy's gains on receiving EIR for Miryalaguda plant
The stock was up 3% to Rs 2,698 on BSE in intra-day trade.
Dr Reddy's SEZ unit completes USFDA inspection for second time
US drug regulator audited company's API manufacturing unit at the same plant in April
Dr Reddy's biosimilars capacity gets boost with GE Healthcare's FlexFactory
BS ReporterHyderabad, 19 MayDr Reddy's Laboratories (DRL) will install India's first single-use manufacturing platform to expand the biologics production capacity at its facility in Hyderabad. GE Healthcare's bio-manufacturing platform FlexFactory will help the Hyderabad-based drug major increase its capacity to meet both the expected growth of its currently marketed biosimilars as well as support the launch of new biosimilar products in the next few years. With this, the pharma company will boost its manufacturing capacity as the overall project set-up timeline for FlexFactory is typically 9 to 12 months. It will continue to grow patient access globally for biotech-based therapies.The new FlexFactory enables DRL's transition from stainless steel to single-use technologies that bring enhanced flexibility and efficiency into their manufacturing set-up. Single-use technologies facilitate multi-product manufacturing and improve productivity by increasing the number of lots manufactured. .
