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Dr. Reddy's Laboratories (RDY) maintains its position as a global pharmaceutical innovator through strategic developments in generic medicines, biosimilars, and active pharmaceutical ingredients. This news hub provides investors and industry professionals with essential updates on corporate milestones, regulatory filings, and market expansions.
Access real-time information about earnings announcements, partnership agreements, and product pipeline advancements. Our curated collection features official press releases covering FDA approvals, manufacturing facility certifications, and therapeutic area breakthroughs in oncology and gastroenterology.
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Dr. Reddy's Laboratories reported strong Q1FY25 financial results, with revenues of ₹76,727 Mn, up 14% YoY and 8% QoQ. Key highlights include:
- Gross Margin improved to 60.4%
- EBITDA at ₹21,599 Mn (28.2% of Revenues)
- Profit after Tax at ₹13,920 Mn (down 1% YoY, up 7% QoQ)
The growth was primarily driven by the Global Generics business, particularly in North America and India. The company made strategic investments in biologics, consumer healthcare, and innovation. Notable developments include the acquisition of Nicotinell® brands, a joint venture with Nestlé India, and partnerships with Novartis and Alvotech for product commercialization.
Dr. Reddy's Laboratories announced the acquisition of Haleon's Nicotinell and related NRT brands for GBP 500 million. The acquisition includes Nicotinell's global portfolio, comprising Nicabate, Thrive, and Habitrol, across Europe, Asia, and Latin America. The deal features an upfront payment of GBP 458 million and performance-based payments of up to GBP 42 million. Nicotinell, the second-largest NRT brand globally, generated GBP 217 million in revenue in CY'23. Dr. Reddy's aims to expand its OTC business and strengthen its global consumer healthcare presence. The transaction is expected to close in early Q4 2024.
Aurigene Pharmaceutical Services, a subsidiary of Dr. Reddy’s Laboratories, has announced the opening of a new 70,000 sq.ft. biologics facility in Hyderabad, India. The facility offers process and analytical development, along with small-scale manufacturing of antibodies and recombinant proteins for preclinical and early phase clinical requirements. While the laboratories are now operational, the manufacturing capacity will be commissioned by 2024. This new facility aims to provide seamless transitions to larger commercial CGMP manufacturing, complementing Aurigene's current capabilities in recombinant proteins and antibody drug conjugates. The initiative aligns with Aurigene's strategic growth in biologics and small molecules, supported by recent collaborations and investments in AI/ML-led drug discovery.
Dr. Reddy's Laboratories has appointed Milan Kalawadia as CEO of the North America division. Kalawadia, a veteran of the company with 18 years of experience, will be based in Princeton, New Jersey. He has held roles in Finance, Investor Relations, Corporate Development, Marketing, and most recently served as Chief Commercial Officer. Under his leadership, the North American division achieved three consecutive years of growth, surpassing $1 billion in revenue and setting record sales for FY24. Kalawadia's extensive industry knowledge and innovative approach are expected to propel the North American business to new heights.
Dr. Reddy’s Laboratories released its Q4 & Full Year FY24 Financial Results. In Q4FY24, revenues were ₹70,830 Mn, up 12% YoY, and FY24 revenues were ₹279,164 Mn, up 14% YoY. Gross margin was 58.6%. SG&A expenses increased by 14% YoY, R&D expenses were 9.7% of revenues. EBITDA was 26.4% of revenues. Profit before tax increased by 21% YoY in Q4FY24, and by 19% YoY for FY24. Profit after tax grew by 36% YoY in Q4FY24 and 24% YoY for FY24.
Dr. Reddy's Laboratories announced the launch of Doxycycline Capsules, 40 mg in the U.S., a generic equivalent of ORACEA® approved by the USFDA. The capsules contain immediate-release and delayed-release pellets, each totaling 40 mg of anhydrous doxycycline. This launch is a significant development for Dr. Reddy's in the U.S. market.
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