Welcome to our dedicated page for Dr. Reddy's Laboratories American Depositary Shares news (Ticker: RDY), a resource for investors and traders seeking the latest updates and insights on Dr. Reddy's Laboratories American Depositary Shares stock.
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 appointed Milan Kalawadia as CEO of the North America division. Kalawadia, a veteran of the company with 18 years of experience, will be based in Princeton, New Jersey. He has held roles in Finance, Investor Relations, Corporate Development, Marketing, and most recently served as Chief Commercial Officer. Under his leadership, the North American division achieved three consecutive years of growth, surpassing $1 billion in revenue and setting record sales for FY24. Kalawadia's extensive industry knowledge and innovative approach are expected to propel the North American business to new heights.
Dr. Reddy’s Laboratories released its Q4 & Full Year FY24 Financial Results. In Q4FY24, revenues were ₹70,830 Mn, up 12% YoY, and FY24 revenues were ₹279,164 Mn, up 14% YoY. Gross margin was 58.6%. SG&A expenses increased by 14% YoY, R&D expenses were 9.7% of revenues. EBITDA was 26.4% of revenues. Profit before tax increased by 21% YoY in Q4FY24, and by 19% YoY for FY24. Profit after tax grew by 36% YoY in Q4FY24 and 24% YoY for FY24.
Dr. Reddy's Laboratories announced the launch of Doxycycline Capsules, 40 mg in the U.S., a generic equivalent of ORACEA® approved by the USFDA. The capsules contain immediate-release and delayed-release pellets, each totaling 40 mg of anhydrous doxycycline. This launch is a significant development for Dr. Reddy's in the U.S. market.
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