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Dr Reddy’s Pins Hopes On Complex Drugs Pipeline Amid Weak Q3

 
• By Penelope MacRae

Dr Reddy’s Laboratories is betting on complex product launches to power an improvement in its bottom line after reporting a 29% drop in quarterly net profit, hit by price erosion in its main US market.

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DR REDDY'S IS BETTING ON COMPLEX DRUGS TO POWER ITS RECOVERY

Dr. Reddy's Laboratories Ltd.’s quarterly results are emblematic of the malaise afflicting India’s flagship generic drug sector. The industry has been pummeled by double-digit price erosion in its main US market with drug distributors consolidating their buying power and the US FDA awarding approvals at a record rate. The US contributes nearly half of Dr Reddy’s total revenue.

“We anticipate the market dynamics will remain challenging in the near-term,” Dr Reddy’s chief operating officer Abhijit Mukherjee told analysts...

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