ICICI Direct's research report on Dr Reddy’s Laboratories
Dr Reddy’s (DRL) portfolio includes pharmaceutical generics, APIs, custom pharmaceutical services, biosimilar and differentiated formulations. Revenue: US (37%), India (18%), Russia and CIS (12%), Europe (8%), RoW (6%) and API (16.8%) It has 13 formulation facilities, nine API manufacturing facilities, one biologics facility and several R&D centres across the globe
Outlook
We retain our HOLD rating on the stock We value Dr Reddy’s at Rs 5250 i.e. 25x P/E on FY23E + Rs 317.2 for NPV of gRevlimid and Sputnik.
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