Dr Reddy's Laboratories fourth quarter net profit rose to Rs 334.5 crore on strong growth in revenue and other income. The company's quarterly revenues grew to Rs 2017.3 crore, driven by strengths in its two key markets, US and Russia.
GV Prasad, Vice Chairman and CEO, Dr Reddy's Laboratories in an interview with CNBC-TV18 spoke about the quarterly numbers of the company and the road ahead. Talking about the company's overseas operations he said, "We believe that next two years we will be very significant in terms of growth from us from the US market. We hope to increase our market share in the German markets. Yes, prices will be under pressure in the German markets in the short to medium term but, we are very committed to Germany." Below is the verbatim transcript of his interview with Ekta Batra of CNBC-TV18. Also watch the accompanying video. Q: Your revenues have been very good this time around, your numbers. Can you just take us through the US markets first and how exactly Allegra-D 24 has contributed to you all this time around? A: Allegra was launched in the last quarter first as a prescription product. As soon as we got approval we launched it as an OTC (Over-the-counter) product. It has contributed quite significantly to the revenues in the fourth quarter and also to the profitability. The US market remains quite attractive for the next two-three years because of the large volume of products which are going off patent. We believe that next two years we will be very significant in terms of growth from us from the US market. Q: Do we expect the sequential growth of 20% to continue for the US markets going forward and will Arixtra Generic be one of the key products you are possibly going to launch? Can you give us an update on that? A: We are still waiting for approval for Arixtra. Once we get approval we will launch it. I cannot comment specifically on the numbers but, overall FY12 and FY13 will be good year for the North American generic market. Q: There were some concerns coming in on the Indian growth rate this time around for the company in particular. ItDiscover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
