bullish
Dr. Reddy's Laboratories (DRRD IN): Q3FY23 Results- Sequential Improvement Supported by US
312 Views29 Jan 2023 18:18
SUMMARY
- Dr. Reddy's Laboratories (DRRD IN) recorded record high revenue, EBITDA, and net profit in Q3FY23, driven by US business. The company generated healthy cash flow of INR20B during the quarter.
- Revenue from North America surged 64% INR30.6B, driven by new products launches, increase in volumes, and a favorable forex movement. gRevlimid contributed ~34% of North America revenue.
- The company plans to launch ~30 products in the U.S. market in FY24. With the pipeline shifting toward complex products, Dr. Reddy is well-positioned to maintain double-digit revenue growth.
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Tina Banerjee
Global Healthcare Analyst
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