In today’s briefing:
- YSB Inc Pre-IPO – The Negatives – However, It Comes at a Cost to Profitability
- Dr. Reddy’s Laboratories (DRRD IN): India Business Still the Brightest Spot; Slow Recovery in the US
YSB Inc Pre-IPO – The Negatives – However, It Comes at a Cost to Profitability
- YSB Inc (YSB HK) is looking to raise about US$500m in its upcoming Hong Kong IPO.
- YSB Inc. (YSB) operates a pharmaceutical platform, digitizing the pharmaceutical transaction and service segment.
- However, gross margins have fluctuated owing to a changing sales mix. Growth has also come at the cost of profitability and YSB has consistently burned cash over its track period.
Dr. Reddy’s Laboratories (DRRD IN): India Business Still the Brightest Spot; Slow Recovery in the US
- Dr. Reddy’s Laboratories (DRRD IN) reported Q1FY23 results, with revenue growing 6% and 108% y/y, mainly driven by a 26% y/y growth in India business.
- Despite price erosion and increasing competition in some of the key products, North America revenue grew 2% y/y, driven by launch of new products and favorable forex rates.
- Bottom line got benefitted from one-off items including settlement income and non-core brand divestment proceeds. Net profit surged 108% y/y.
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