GV Prasad VC & CEO, Dr Reddy Laboratories explains to CNBC-TV18 that the reason for company‘s good performance for the quarter is the robust growth in the US, Russia and the API business
Orchid Chemicals and Pharmaceuticals and rival Aurobindo Pharma have received US Food and Drug Administration (FDA) approval for their abbreviated new drug application (ANDA) for Olanzapine tablets, a generic version of Eli Lilly's Zyprexa tablets, in various strengths.
Dr Reddy's Laboratories reported a better-than-expected 88% year-on-year rise in third quarter net profit at Rs 513 crore, helped by new high margin drug launches and foreign exchange gains.
G V Prasad, VC & CEO, Dr Reddy's Laboratories tells CNBC-TV18 that North America, Russia and the Pharmaceuticals Services and Active Ingredients (PSAI) segment led to the stupendous growth in the business.