Dr Reddy's Sees Steady Q2 Growth Amid Robust Branded Market Sales
Dr Reddy's Laboratories reported a 14.5% increase in consolidated profit for Q2 at Rs 1,437 crore, driven by strong sales in branded markets. Despite challenges in the US market, the company witnessed substantial growth in Europe and other emerging markets. Plans include launching semaglutide in various countries.
- Country:
- India
In the latest financial quarter, Dr Reddy's Laboratories reported a significant rise in consolidated profit, marking a 14.5% increase to Rs 1,437 crore. This surge was primarily fueled by vigorous sales in branded markets, as stated in their regulatory filing.
The Hyderabad-based pharmaceutical giant also recorded a boost in revenue, climbing to Rs 8,805 crore in the second quarter, up from Rs 8,016 crore in the same period last year. However, the company faced setbacks in North America due to pricing pressures on specific generics and a drop in lenalidomide sales.
Notably, Dr Reddy's remains focused on strategic growth initiatives, including the worldwide launch of semaglutide. This move aims to expand their presence across various geographies with a vision of attaining double-digit growth by the end of fiscal year 2027.
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