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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 (NYSE: RDY) has launched Succinylcholine Chloride Injection USP, a generic equivalent of Quelicin®, approved by the USFDA. The new product comes in multiple-dose vials, with a concentration of 20 mg/mL. The Quelicin® market recorded U.S. sales of approximately $74.8 million over the last twelve months ending September 2020. The press release also includes a significant warning regarding the risk of cardiac arrest from hyperkalemic rhabdomyolysis in pediatric patients.
Dr. Reddy’s Laboratories (NYSE: RDY) announced promising preclinical data for E7777, an engineered IL-2-diphtheria toxin fusion protein, at the SITC 35th Anniversary Annual Meeting. The study revealed that E7777 demonstrated significant anti-tumor activity and improved survival rates in combination with an anti-PD-1 agent in murine models, outperforming monotherapy treatments. The company plans to move forward with clinical trials for this combination therapy, indicating potential advancements in immunotherapy for solid tumors.
Dr. Reddy’s Laboratories (NYSE: RDY) announced a partnership with the Biotechnology Industry Research Assistance Council (BIRAC) and the Department of Biotechnology (DBT) of India for advisory support on the clinical trials of the Sputnik V vaccine. This collaboration allows access to BIRAC's clinical trial centers and Good Clinical Laboratory Practice (GCLP) labs for immunogenicity testing. The approval for conducting phase 2/3 trials in India was granted by the Drugs Controller General of India earlier this month, bolstering efforts to introduce the vaccine in the Indian market.
Dr. Reddy's Laboratories Ltd. (NYSE: RDY) has appointed Parag Agarwal as Chief Financial Officer (CFO), effective December 1, 2020. Agarwal brings over 33 years of experience, including an impactful tenure at Reckitt Benckiser as CFO-Health. He has expertise in financial strategy, M&A, and operational improvements. Saumen Chakraborty, the current CFO, will retire on the same date but will remain as an Advisor during the transition. Agarwal's leadership aims to enhance the company's value for customers and patients.
Dr. Reddy’s Laboratories reported consolidated revenue of Rs. 4,897 Cr for Q2 FY21, an 11% QoQ and 2% YoY increase, with gross margin at 53.9%. EBITDA stood at Rs. 12,673 Cr, a decrease of 12% YoY but up 9% QoQ. Profit after tax decreased by 30% YoY to Rs. 7,623 Cr, while profit before tax rose 12% YoY. R&D expenses were 8.9% of revenue. The company experienced a cyber attack in October but is actively recovering. The demand for COVID-19 drugs, Avigan, and Remdesivir, contributed to growth, albeit at a slower recovery pace compared to pre-COVID levels.
Dr. Reddy’s Laboratories has re-launched OTC Famotidine Tablets USP, 10 mg and 20 mg, in the U.S. market after receiving USFDA approval. These tablets serve as generic equivalents of Pepcid AC®, helping to fill a therapy gap created by the withdrawal of Ranitidine. The Pepcid AC® brand generated approximately $211 million in U.S. sales in the twelve months ending August 2020. Available in various pack sizes, this move expands Dr. Reddy’s OTC Antacid portfolio, catering to customer needs and providing relief from heartburn and acid indigestion.
Dr. Reddy’s Laboratories Ltd. and the Russian Direct Investment Fund (RDIF) have received approval from the Drug Control General of India (DCGI) to conduct an adaptive phase 2/3 clinical trial for the Sputnik V vaccine in India. This multi-center study will focus on safety and immunogenicity. Dr. Reddy’s, in partnership with RDIF, is set to distribute 100 million doses of the vaccine upon regulatory approval. The trial aims to contribute to the global effort in combating COVID-19 and is part of a broader collaboration involving data from Russian clinical trials.
Dr. Reddy's Laboratories Ltd. (NYSE: RDY) will announce its second-quarter results for the period ending September 30, 2020, on October 28, 2020, following a board meeting. An earnings call will take place on the same day at 5:30 PM IST (8:00 AM EDT), with playback available until November 4, 2020. Details regarding the earnings call, including dial-in numbers and a link for pre-registration, have been provided. Dr. Reddy's operates in various therapeutic areas and markets worldwide, emphasizing innovation and affordability in pharmaceuticals.
Dr. Reddy’s Laboratories Ltd. (NYSE: RDY) has achieved a significant milestone by joining the Science Based Targets initiative (SBTi) to commit to a 55% reduction in Scope 1 and 2 greenhouse gas emissions by 2030, based on FY2017-18 metrics. This positions Dr. Reddy's as the first Indian and third Asian pharmaceutical company to adopt such ambitious environmental goals. The company has already reduced its Scope 1 emissions by 8.6% and Scope 2 emissions by 20.7% as of FY 2019-20, moving towards its climate targets.
Dr. Reddy's Laboratories has launched a generic version of Sapropterin Dihydrochloride Tablets for oral use, marking a significant expansion in their product portfolio. Available in 100 mg dosage and bottle sizes of 120, this launch aims to provide affordable medications for patients, particularly for those affected by a rare disease. The company also offers a co-pay card program to assist eligible patients financially. This move underscores Dr. Reddy's commitment to enhancing healthcare accessibility while broadening their therapeutic offerings.
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