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Dr. Reddy’s Warns US Market ‘Unpredictable’ As Q4 Profit Below Expectations

 
• By Penelope MacRae

Dr. Reddy’s Laboratories, India’s second-largest drug firm by sales, has warned that its key US export market remains “unpredictable” after reporting a lower than expected fourth-quarter net profit that capped a tough year.

The last financial year was “particularly bad” for Dr. Reddy's Laboratories Ltd., chief operating officer Abhijit Mukherjee told analysts in a conference call after the release of the Indian firm’s fourth-quarter results, which missed market expectations.

The company had no “significant” new product launches amid ongoing US regulatory quality control issues, and cut-throat pricing competition drove down sales in its main US market, he said.

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