Venezuela Hits Dr. Reddy’s Profit, But Indicators Brighter

Indian generic drug heavyweight Dr. Reddy’s quarterly net profit has tumbled nearly 90% on an exceptional charge involving a $65m write-down on receipts due from its Venezuelan subsidiary but improved financial performance indicators have cheered investors.

NEW DELHI – Dr. Reddy's Laboratories Ltd., India's second-largest pharma firm by sales, has reported an 86% dive in quarterly net profit after taking a $65m one-off charge for money owed by struggling oil producer Venezuela, but investors have taken heart from an improved adjusted EBITDA margin that drove the company’s shares higher.

Read the full article – start your free trial today!

Join thousands of industry professionals who rely on Scrip for daily insights

  • Start your 7-day free trial
  • Explore trusted news, analysis, and insights
  • Access comprehensive global coverage
  • Enjoy instant access – no credit card required

More from Focus On Asia

Transient FY26 For Syngene But Momentum In China +1 Projects

 

As biopharma derisks its business with China ‘rebalancing’ strategies, Syngene could convert majority of such pilots into full program contracts amid a challenging FY2025. The CRDMO also expects business discussions pertaining to a newly acquired US biologics site to mature into commercial opportunities.

DIA Korea: Medical Turmoil, Global Factors Blunt Korea’s Trial Edge

 
• By 

DIA Korea hears how multiple domestic and global factors are affecting the environment for clinical trials in South Korea, and what actions may be taken to address this.

Zai’s R&D Head Touts ‘Beauty’ Of Novel Internal Assets

 

Two potentially first-in-class molecules signify Zai Lab’s renewed drive for the in-house discovery of drugs that it requires “to be innovative, differentiated and to have the potential to make a big difference for patients,” its global R&D head tells Scrip.

CSPC’s Global-First Monospecific ADC Promising In Advanced NSCLC

 
• By 

CSPC’s SYS6010, the first monospecific EGFR-targeting antibody-drug conjugate in the clinic for advanced NSCLC, has shown Phase I promise, but could face close competition with another China-originated bispecific.

More from Scrip

Zelluna Believes Its TCR Tech Can Unlock Natural Killer Cell Potential

 

While CAR-NKs have pivoted towards autoimmune disease, the Norwegian biotech believes its unique platform can deliver in oncology

AstraZeneca COPD Drug Breztri Breezes Through Asthma Trials

 
• By 

The triple therapy improves lung function in the Phase III KALOS and LOGOS studies

Transient FY26 For Syngene But Momentum In China +1 Projects

 

As biopharma derisks its business with China ‘rebalancing’ strategies, Syngene could convert majority of such pilots into full program contracts amid a challenging FY2025. The CRDMO also expects business discussions pertaining to a newly acquired US biologics site to mature into commercial opportunities.