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Dr Reddy’s: Acceleration in EM opportunity to help re-rate company

Dr Reddy’s area of focus in the domestic market includes hepatology, diabetic nutrition and its health-tech platform

May 20, 2022 / 11:01 AM IST
Dr Reddy’s: Acceleration in EM opportunity to help re-rate company

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

The Q4FY22 sales of Dr Reddy’s (CMP: Rs 3,969; Market Cap: Rs 66,060 crore) grew by 15 percent year on year (YoY), aided by a growth in all regions but partly offset by a contraction in the active ingredients segment. The sales growth in North America (37 percent of total sales) remained strong, despite the double-digit pricing erosion in the base business. This was aided by new products, such as the generic versions of Vascepa and the Vasopressin injection. Vascepa, which...

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