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Writedowns and US decline hit Dr Reddy's third quarter

 
• By Anju Ghangurde

Dr Reddy’s Laboratories reported a loss of Rs5.2 billion ($112 million) for the third quarter ended December 31st, 2009, hit by writedowns in its German business, Betapharm, and a decline in revenues from the US. Total revenues for the period fell by 6% to Rs17.3 billion.

Dr Reddy’s Laboratories reported a loss of Rs5.2 billion ($112 million) for the third quarter ended December 31st, 2009, hit by writedowns in its German business, Betapharm, and a decline in revenues from the US. Total revenues for the period fell by 6% to Rs17.3 billion.

The company said that prices in the German generics market fell further as a result of a higher pace of transition to the tender-based model there. Dr Reddy's recorded a...

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