Hyderabad, India, July 26, 2018: Dr. Reddy’s Laboratories Ltd. (BSE: 500124 | NSE: DRREDDY | NYSE: RDY) today announced its consolidated financial results for the quarter ended June 30, 2018 under International Financial Reporting Standards (IFRS).
enting on the results, Co-chairman and CEO, GV Prasad said “I am pleased with our first quarter results, aided by the launch of gSuboxone. Our focus on operational efficiencies has helped in significantly improving our margin profile. Looking ahead, while we may continue to experience price erosion in the North America Generics market, we will also continue to drive growth and cost efficiencies, at the same time, enhancing our quality management systems and building healthy portfolios across the markets we serve”.
Dr. Reddy’s Laboratories Limited and Subsidiaries
Consolidated Income Statement
* Includes income from Investments # includes impairment charge
All amounts in millions, except EPS
All US dollar amounts based on convenience translation rate of I USD = Rs.68.46
Key Balance Sheet Items
Revenue Mix by Segment
Global Generics (GG)
Revenues from GG segment at Rs.30.6 billion. Year-on-year growth of 12%, primarily driven by contributions from Emerging Markets, India and launch of gSuboxone in the US. Sequential growth is 10%.
As of 30th June 2018, cumulatively 112 generic filings are pending for approval with the USFDA (109 ANDAs and 3 NDAs under 505(b)(2) route). Of these 109 ANDAs, 61 are Para IVs out of which we believe 30 have ‘First to File’ status.
Pharmaceutical Services and Active Ingredients (PSAI)
Proprietary Products (PP)
Income Statement Highlights:
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