Generics drugs maker Dr Reddy's Laboratories missed street
expectations with a consolidated first quarter net profit of Rs 336 crore, up
28% year-on-year.
The company's revenue in April-June also rose 28% to Rs
2,540.61 crore.
Analysts on average had expected Dr Reddy's to report a net
profit of Rs 353 crore on revenue of Rs 2,632 crore in the quarter.
The company's gross profit margin was flat at 53% in the
first quarter.
In the quarter, Dr Reddy's had a foreign exchange loss of Rs
20.9 crore, compared with a gain of Rs 15.8 crore a year ago.
The company's global generics revenue was up 32% to Rs
1,906.6 crore. Revenue from pharmaceutical services and active ingredients rose
14% to Rs 552.7 crore.
Among its key generic drug markets, North America revenue
rose 38% to Rs 792 crore, Europe revenue was up 14% to 218 crore and India
revenue rose 19% to Rs 348 crore. Sales from Russia and CIS countries were up
38% to Rs 417 crore and revenue from the rest of the world jumped 65% to Rs 132
crore.
Dr Reddy's said its growth in North America was largely
driven by new product launches of clopidogrel, over-the-counter lansoprazole,
and was further supported by key products like ziprasidone, fondaparinux,
quetiapine, etc, marginally offset by regular year-on-year price declines in
existing product basket.
Revenue from Russia and India was fuelled by volume increase
across key brands and new product launches. It had launched 10 new brands
during the quarter in India.
During the quarter, Dr Reddy's launched 33 new generic
products, filed 18 new product registrations and filed 7 DMF (drug master
files) globally.
The company has 73 ANDAs (abbreviated new drug applications)
pending approval with the US Food and Drugs Administration, of which 36 are
Para IV certifications and 6 are with FTF (first to file) status. FTF status is
given to the pharma company if it is first to challenge a patent and gets a
six-month period to exclusively market the drug, before other companies are
allowed to launch their generic versions of the particular medicine.
Dr Reddy's shares ended down 0.6% at Rs 1,662.10 on NSE on
Thursday.
Source: www.moneycontrol.com
Thanks,
Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd
No comments:
Post a Comment