bullish
Dr. Reddy's Laboratories (DRRD IN): US and Europe Drive Highest Ever Sales in Q3; Profit Surges 11%
325 Views14 Feb 2024 09:30
SUMMARY
- In Q3FY24, Dr. Reddy's Laboratories (DRRD IN) posted highest ever revenue of INR72B, led by U.S. and Europe generics businesses, with contribution from both base business and new product launches.
- Underperformance in the domestic market continued in Q3FY24. However, the company’s initiatives regarding innovative and new generic drugs for Indian market should place it for long-term accelerated growth.
- Last month, Dr. Reddy's acquired MenoLabs, a leading women’s health and dietary supplement branded portfolio of seven products designed to provide health support and address symptoms of perimenopause and menopause.
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Tina Banerjee
Global Healthcare Analyst
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