Emkay Global Financial recommended hold rating on Dr. Reddy's with a target price of Rs 4550 in its research report dated September 07, 2020.
Emkay Global Financial recommended hold rating on Dr. Reddy's with a target price of Rs 4550 in its research report dated July 29, 2020.
Key drag for the Dr Reddy's is India business. Compared to its peers, it has a low revenue share in India and that too is majorly in the acute category
GV Prasad, Co-Chairman and MD of Dr Reddy's, said the company is working with partners on these drugs but did not divulge details.
Analysts say unlike previous attempts, Dr Reddy’s is making more concerted effort to expand in India
Dr Reddy's Laboratories sprung a surprise on Wednesday when it announced that it will acquire the domestic business of Wockhardt Pharma for Rs 1,850 crore
A stronger domestic market foundation helps as a buffer from fluctuating US sales.
We find large Insurance companies being part of most global Indices, so we also should traverse a similar path and see two or three insurance companies being part of Sensex or the Nifty in the future, says Rusmik Oza of Kotak Securities.
Wockhardt has a diversified product portfolio with presence in therapeutic segments such as cardiology, dermatology, diabetes, respiratory and ophthalmology. It is not clear which of these divisions will be sold.
Dr Reddy’s is the first Indian company and the second international drug company after Sandoz to be selected and win a supply tender in China under the Quality Consistency Evaluation (QCE) system.
The city-based drug maker in a filing with bourses had said the recall which began on October 1, is at the retail level for over-the-counter (OTC) products and at the consumer level for prescription products of all of its Ranitidine medications sold in the US due to confirmed contamination with N-Nitrosodimethylamine (NDMA) above levels established by FDA.
The audit of the company's API Srikakulam Plant (SEZ) by the United States Food and Drug Administration (USFDA) was completed on Friday, the Hyderabad-based pharma major said in a regulatory filing.
The city-based drug maker said in a filing with bourses that the recall, which began on October 1, is at the retail level for Over-The-Counter products and at the consumer level for prescription products of all of its ranitidine medications sold in US due to confirmed contamination with N-Nitrosodimethylamine (NDMA) above levels established by FDA.
Net Sales are expected to increase by 9.7 percent Y-o-Y (up 8.4 percent Q-o-Q) to Rs. 4,167.1 crore, according to Emkay.
Before the acquisition, MUFG held 0.05 percent stake in Dr Reddy's.
The net profit increase is due to a one-off receipt of Rs 350 crore from Celgene, pursuant to settlement agreement related to Revlimid brand capsules in Canada.
Allegra-D 12 HR is a trademark of Aventisub II Inc.
Other Indian drug companies such as Sun Pharma and Lupin, who ventured into specialty business, are also facing challenges in scaling their products.
"We're pleased to bring this product to market for the customers and patients who will benefit from access to this medicine and who have in the past experienced supply disruptions in the market place," said Marc Kikuchi, CEO, North America Generics, Dr Reddy's Laboratories.
Indian business constituted about 16 percent of Dr Reddy’s Rs 15,385 crore revenues in FY19 compared to North America’s 39 percent.
The company anticipates US FDA approval for generic Nuvaring in the first half of FY20, while the launch of generic Copaxone in the US may get further delayed as the company received additional queries from the drug regulator relating to the product, the management said.
The companies have been accused of violating antitrust laws by fixing prices and allocating customers.
Sernivo Spray, Promiseb topical Cream and Trainex are the brands sold to US-based Encore Dermatology.
Indivior, a spin-off of British drug maker Reckitt Benckiser, had managed to block sales of Dr Reddy’s generic version of Suboxone Film through a court injunction since July on grounds of pending patent litigation