In today’s briefing:
- Dr. Reddy’s Laboratories (DRRD IN): Q1FY24 Result- US Business Shines; PAT Jumps 18%
Dr. Reddy’s Laboratories (DRRD IN): Q1FY24 Result- US Business Shines; PAT Jumps 18%
- Dr. Reddy’s Laboratories (DRRD IN) started FY24 on a strong note, with Q1FY24 revenue and net profit growing 29% and 18%, YoY, respectively, driven by North America generics business.
- Revenue from North America generics increased 79% y/y and 26% q/q to INR32 billion, driven by new product launches, continued momentum in existing products, and favorable forex rates movement.
- During Q1FY24, the company has launched six new products in the U.S. With a rich ANDA pipeline of 85 ANDAs, launch momentum is expected to accelerate in the current fiscal.
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