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Dr. Reddy's Laboratories Limited (RDY) is a leading multinational pharmaceutical company headquartered in Hyderabad, Telangana, India. Founded by Kallam Anji Reddy, the company has grown to become one of the largest generic drug manufacturers globally. Dr. Reddy's offers a diverse product portfolio that includes not only generic medications but also injectables and active pharmaceutical ingredients (APIs).
Dr. Reddy's has a substantial footprint in North America, which accounts for approximately 50% of its generics sales. The company also serves markets in India (22% of generics sales), Russia (12%), and various European and Latin American countries. In North America, injectables constitute 25% of its sales, showcasing the company’s ability to innovate and meet various healthcare needs.
Within branded generic markets, particularly in India, Dr. Reddy's has secured a top-five position in critical therapeutic areas such as oncology and gastroenterology. The company’s strong brand reputation has empowered it to achieve significant success in these sectors.
Furthermore, Dr. Reddy's operates a robust API business, manufacturing over 150 APIs and distributing them in more than 75 countries worldwide. This extensive network highlights the company's commitment to quality and global health.
Dr. Reddy's continues to advance its mission through ongoing projects and innovations. Recent achievements, partnerships, and financial health indicators demonstrate a stable and growing enterprise. Investors keen to stay informed about the latest developments in Dr. Reddy's Laboratories can find up-to-date news from various sources, ensuring they remain well-informed on company performance and growth trajectories.
Dr. Reddy's Laboratories has launched Toripalimab (brand name Zytorvi®) in India, making it the third country after China and the US to access this new biological entity for treating nasopharyngeal carcinoma (NPC). The drug is the first and only immuno-oncology treatment approved by major regulatory authorities worldwide for adults with recurrent or metastatic NPC. When combined with standard chemotherapy, Toripalimab showed a 48% reduction in risk of progression or death. The launch follows Dr. Reddy's exclusive licensing agreement with Shanghai Junshi Biosciences for development and commercialization rights in 21 countries.
Dr. Reddy's Laboratories and Senores Pharmaceuticals announced the launch of Ivermectin Tablets USP, 3 mg in the US market. The product is bioequivalent to STROMECTOL® Tablets of Merck Sharp and Dohme Dr. Reddy's will market the product, with Senores being the second generic manufacturer to receive approval. The Ivermectin Tablets market, including both brand and generic products, had US sales of approximately $20 million for the twelve months ending September 2024, according to IQVIA data.
Dr. Reddy's Q2FY25 financial results show revenue growth of 17% YoY to ₹80,162 Mn, with a gross margin of 59.6%. The company reported EBITDA of ₹22,803 Mn (28.4% of revenues) and profit after tax of ₹13,415 Mn, down 9% YoY. Global Generics segment grew 17% YoY to ₹71,576 Mn, while PSAI revenues increased 20% to ₹8,407 Mn. Key developments include completing the Nicotine Replacement Therapy portfolio acquisition and operationalizing the Nestlé Health Science joint venture. The company maintained growth momentum across businesses despite increased SG&A expenses and R&D investments.
Dr. Reddy's Laboratories has achieved a significant milestone by ranking 15th in Science magazine's 2024 Top Biotech and Pharma Employers Survey, marking its third consecutive appearance on the prestigious list. The company improved from its previous rankings of 18th in 2022 and 16th in 2023, scoring particularly well in 'Employee Respect', 'Employee Loyalty', and 'Social Responsibility'.
The survey, conducted from March to April 2024, gathered approximately 6,400 responses globally, with participants evaluating companies across 24 characteristics. Notably, Dr. Reddy's was also ranked first among Indian pharma companies in both R&D intensity and proportion of PhD employees according to a recent FAST India report.
Dr. Reddy's Laboratories Inc. has launched a comprehensive employee support program focused on menopause awareness, benefits, and training during Menopause Awareness Month in October. The initiative aims to create an inclusive work environment by addressing the needs of employees experiencing menopause.
The program includes:
- Enhanced health benefits covering menopause-related treatments and services
- Menopause education and training for all employees and leaders
- Flexible work arrangements for affected employees
- Support groups and resources for sharing experiences and advice
A half-day training event, hosted by Over the Bloody Moon, is scheduled for October 15, 2024. It will feature MenoVest™, a wearable interactive menopause simulator. The company also offers a dedicated resource hub through its subsidiary, MenoLabs, providing information and products for managing menopause.
Aurigene Oncology , a subsidiary of Dr. Reddy's Laboratories, has announced promising Phase 1 results for Ribrecabtagene autoleucel (DRL-1801) from the SWASTH study - India's first trial for a novel autologous BCMA directed CAR-T cell therapy in patients with relapsed/refractory multiple myeloma. The study reported:
- 100% clinical response in 8 heavily pre-treated patients
- 62.5% achieved stringent complete response
- No high-grade events of Cytokine Release Syndrome or neurotoxicity
The Indian Regulatory Agency (DCGI) has approved the commencement of the Phase 2 trial. These results were presented at the 21st annual meeting of the International Myeloma Society in Brazil. Ribrecabtagene autoleucel is manufactured at Aurigene Oncology's CAR-T GMP facility in Bangalore.
Dr. Reddy's Laboratories (RDY) has entered into a royalty-free non-exclusive voluntary licensing agreement with Gilead Sciences Ireland UC for the manufacture and commercialization of Lenacapavir in India and 120 other countries. Lenacapavir is an FDA-approved drug for treating HIV-1 infection in heavily treatment-experienced adults with multidrug-resistant HIV-1. The agreement covers both the current approved indication and potential future use in HIV prevention (PrEP).
Dr. Reddy's will be responsible for technology transfer, manufacturing, clinical studies, product registration, and launch in the agreed markets. This collaboration aims to improve patient access and affordability for HIV treatment and prevention in primarily low- and lower-middle-income countries with high HIV disease burden.
Dr. Reddy's Laboratories, Aurigene Pharmaceutical Services, and Kainomyx have signed a non-binding MoU for the joint development of an affordable anti-malarial drug. This potential partnership aims to combine Kainomyx's novel drug discovery expertise, Aurigene's integrated drug development capabilities, and Dr. Reddy's commercialization abilities in low and middle-income countries, the US, and Europe.
The collaboration addresses the critical need for effective, affordable, and accessible malaria prevention and treatment, especially in vulnerable populations. With 249 million malaria cases and 608,000 deaths reported in 2022, this initiative aligns with Dr. Reddy's goal of reaching 1.5 billion patients by 2030. The partnership will leverage each company's strengths to accelerate the development of innovative medicines targeting cytoskeletal proteins of parasites, a novel mechanism of action.
Dr. Reddy's Laboratories (NYSE: RDY) has received a positive opinion from the European Medicines Agency's CHMP for its proposed biosimilar Rituximab candidate DRL_RI (ITUXREDI®). This recommendation paves the way for potential marketing authorization in EU and EEA member states. The biosimilar is being developed as an alternative to MabThera® (Rituximab), with intended indications including Non-Hodgkin's Lymphoma, Chronic Lymphocytic Leukaemia, Rheumatoid Arthritis, and other conditions.
This development is part of Dr. Reddy's strategic biosimilars program, which has been a key focus for the company over the past 25 years. The company has already launched biosimilar products in India and over 25 other countries, with plans for global expansion in regulated and emerging markets.
Dr. Reddy's Laboratories reported strong Q1FY25 financial results, with revenues of ₹76,727 Mn, up 14% YoY and 8% QoQ. Key highlights include:
- Gross Margin improved to 60.4%
- EBITDA at ₹21,599 Mn (28.2% of Revenues)
- Profit after Tax at ₹13,920 Mn (down 1% YoY, up 7% QoQ)
The growth was primarily driven by the Global Generics business, particularly in North America and India. The company made strategic investments in biologics, consumer healthcare, and innovation. Notable developments include the acquisition of Nicotinell® brands, a joint venture with Nestlé India, and partnerships with Novartis and Alvotech for product commercialization.
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