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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

    Anubhav Sahu
    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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