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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 entered into a license agreement with Shanghai Henlius Biotech for HLX15, a biosimilar candidate to Darzalex® & Darzalex Faspro®. The agreement grants Dr. Reddy's exclusive commercialization rights for both subcutaneous and intravenous formulations in the U.S. and Europe.
Under the agreement, Henlius will handle development, manufacturing, and commercial supply. The deal includes an upfront payment of $33 million, with potential milestone payments bringing the total to $131.6 million, plus royalties on annual net sales. HLX15 is a recombinant anti-CD38 human monoclonal antibody injection developed for multiple myeloma treatment.
This collaboration strengthens Dr. Reddy's biosimilars portfolio in regulated markets, following their recent pegfilgrastim launch in the U.S. and bevacizumab in the UK, as well as their denosumab biosimilar partnership with Alvotech.
Henlius Biotech has entered into a license agreement with Dr. Reddy's Laboratories for HLX15, an investigational daratumumab biosimilar. The deal grants Dr. Reddy's exclusive commercialization rights in 43 countries, including 42 European regions and the United States.
Under the agreement terms, Henlius will handle development, manufacturing, and commercial supply. The deal includes a $33 million upfront payment and potential additional milestone payments totaling up to $131.6 million, plus royalties on annual net sales.
The partnership aims to leverage Henlius' biosimilar development and manufacturing capabilities with Dr. Reddy's global commercialization experience. The collaboration focuses on expanding access to affordable oncology treatments in the U.S. and European markets.
Dr. Reddy's Laboratories (RDY) reported Q3FY25 financial results with revenues of ₹83,586 Mn, up 16% YoY and 4% QoQ. The growth was primarily driven by the recently acquired Nicotine Replacement Therapy (NRT) business, which contributed ₹6,049 Mn. Underlying YoY growth excluding NRT was 7.5%.
Key highlights include:
- Gross Margin at 58.7%
- EBITDA at ₹22,982 Mn (27.5% of revenues)
- Profit after Tax at ₹14,133 Mn (up 2% YoY, 13% QoQ)
Geographic performance showed:
- North America revenues at ₹33,834 Mn (1% YoY growth)
- Europe revenues at ₹12,096 Mn (143% YoY growth, including NRT)
- India revenues at ₹13,464 Mn (14% YoY growth)
- Emerging Markets at ₹14,358 Mn (12% YoY growth)
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.
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