One-offs Lift Dr Reddy’s In Q2, Eyes Gx Suboxone Opportunities

Indian Firm Stays Bullish On China, M&A On Agenda

 
• By Anju Ghangurde

One-offs aided Dr Reddy’s performance in the second quarter although US growth was flat amid challenges including the recall of ranitidine. But the Indian firm is enthused about fresh potential opportunities for generic Suboxone in the US in view of Indivior’s intent to discontinue its authorized generic.

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Dr Reddy's Pieces Together Growth Strategy • Source: Shutterstock

Dr. Reddy's Laboratories Ltd. reported 26% growth in revenue to INR48.01bn ($680m) for the second quarter of fiscal year 2019-20, buoyed by inflows from the sale of rights to two migraine assets, but performance in the US was dulled by several challenges.

The US generics business remained flat during the quarter and fell 13%, sequentially dented by price erosion and lower volumes, and was also hurt by the recall of ranitidine due to contamination with N-Nitrosodimethylamine (NDMA) above levels specified

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