Dr Reddys Labs Stock Price, News & Analysis

Dr. Reddy's Laboratories Ltd. (NYSE: RDY) has appointed Parag Agarwal as Chief Financial Officer (CFO), effective December 1, 2020. Agarwal brings over 33 years of experience, including an impactful tenure at Reckitt Benckiser as CFO-Health. He has expertise in financial strategy, M&A, and operational improvements. Saumen Chakraborty, the current CFO, will retire on the same date but will remain as an Advisor during the transition. Agarwal's leadership aims to enhance the company's value for customers and patients.

Dr. Reddy’s Laboratories reported consolidated revenue of Rs. 4,897 Cr for Q2 FY21, an 11% QoQ and 2% YoY increase, with gross margin at 53.9%. EBITDA stood at Rs. 12,673 Cr, a decrease of 12% YoY but up 9% QoQ. Profit after tax decreased by 30% YoY to Rs. 7,623 Cr, while profit before tax rose 12% YoY. R&D expenses were 8.9% of revenue. The company experienced a cyber attack in October but is actively recovering. The demand for COVID-19 drugs, Avigan, and Remdesivir, contributed to growth, albeit at a slower recovery pace compared to pre-COVID levels.

Dr. Reddy’s Laboratories has re-launched OTC Famotidine Tablets USP, 10 mg and 20 mg, in the U.S. market after receiving USFDA approval. These tablets serve as generic equivalents of Pepcid AC®, helping to fill a therapy gap created by the withdrawal of Ranitidine. The Pepcid AC® brand generated approximately $211 million in U.S. sales in the twelve months ending August 2020. Available in various pack sizes, this move expands Dr. Reddy’s OTC Antacid portfolio, catering to customer needs and providing relief from heartburn and acid indigestion.

Dr. Reddy’s Laboratories Ltd. and the Russian Direct Investment Fund (RDIF) have received approval from the Drug Control General of India (DCGI) to conduct an adaptive phase 2/3 clinical trial for the Sputnik V vaccine in India. This multi-center study will focus on safety and immunogenicity. Dr. Reddy’s, in partnership with RDIF, is set to distribute 100 million doses of the vaccine upon regulatory approval. The trial aims to contribute to the global effort in combating COVID-19 and is part of a broader collaboration involving data from Russian clinical trials.

Dr. Reddy's Laboratories Ltd. (NYSE: RDY) will announce its second-quarter results for the period ending September 30, 2020, on October 28, 2020, following a board meeting. An earnings call will take place on the same day at 5:30 PM IST (8:00 AM EDT), with playback available until November 4, 2020. Details regarding the earnings call, including dial-in numbers and a link for pre-registration, have been provided. Dr. Reddy's operates in various therapeutic areas and markets worldwide, emphasizing innovation and affordability in pharmaceuticals.

Dr. Reddy’s Laboratories Ltd. (NYSE: RDY) has achieved a significant milestone by joining the Science Based Targets initiative (SBTi) to commit to a 55% reduction in Scope 1 and 2 greenhouse gas emissions by 2030, based on FY2017-18 metrics. This positions Dr. Reddy's as the first Indian and third Asian pharmaceutical company to adopt such ambitious environmental goals. The company has already reduced its Scope 1 emissions by 8.6% and Scope 2 emissions by 20.7% as of FY 2019-20, moving towards its climate targets.

Dr. Reddy's Laboratories has launched a generic version of Sapropterin Dihydrochloride Tablets for oral use, marking a significant expansion in their product portfolio. Available in 100 mg dosage and bottle sizes of 120, this launch aims to provide affordable medications for patients, particularly for those affected by a rare disease. The company also offers a co-pay card program to assist eligible patients financially. This move underscores Dr. Reddy's commitment to enhancing healthcare accessibility while broadening their therapeutic offerings.

Dr. Reddy’s Laboratories has launched Cinacalcet Tablets, a generic version of Sensipar, approved by the USFDA. This therapeutic equivalent is expected to capture a share of the Sensipar market, which reported U.S. sales of about $312 million in the last twelve months ending July 2020. The tablets are available in 30 mg, 60 mg, and 90 mg dosages, packaged in bottles of 30. This launch aims to provide affordable treatment options and enhance Dr. Reddy's competitive product portfolio in the pharmaceutical market.

Dr. Reddy's Laboratories has launched Dimethyl Fumarate Delayed-Release Capsules, a generic equivalent of Tecfidera®, approved by the U.S. FDA. The launch addresses a significant market, with U.S. sales of the Tecfidera® brand reaching approximately $3.8 billion for the twelve months ending June 2020, according to IQVIA Health. The new capsules are available in 120 mg and 240 mg strengths, offered in bottles of 14 and 60 capsules. This development expands Dr. Reddy's generics portfolio aimed at providing affordable medicines.