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Dr Reddy’s: Better US prospects to sustain valuations

Dr Reddy's US growth prospects have improved after its recent settlement with Bristol Myers Squibb to launch an oncology drug

October 29, 2020 / 04:11 PM IST
Dr Reddy’s: Better US prospects to sustain valuations

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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

Highlights - Broad-based performance across geographies offsetting EM weakness - Margin improvement led by better productivity - Traction in Covid opportunity – a key watch - Beneficiary of steady product launches, near-term focus  on R&D - Settlement for Revlimind and higher share in Subaxone add to positives Two factors in recent times have bolstered the investment thesis for Dr Reddy's Laboratories (CMP: Rs 4,949, Market cap: Rs 82,300 crore) — emerging Covid opportunities and the improved US prospects. The later opportunity, in particular, has the potential to improve the return...

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