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Dr Reddy's Laboratories Generics Company Intelligence Report
Espicom Business Intelligence Ltd, Sep 2008, Pages: 20
Dr Reddy’s is the second largest pharmaceutical manufacturer in India, behind Ranbaxy. The company sells APIs, branded drugs and generics. Most of its branded drugs are copies of drugs patented in the West, but not in India.
Revenues for fiscal 2008, ended 31st March 2008, fell by 23% to Rs50,006 million. Profit after tax fell by nearly 50% to Rs4,676 million. The firm commented that the year had been more difficult than fiscal 2007, when Dr Reddy’s enjoyed successful authorised generic launches in the US and marketing exclusivity for two generics. By contrast, there were no authorised generics or marketing exclusivity periods for any products in fiscal 2008.
Despite the losses, Dr Reddy’s nonetheless was able to claim that its base businesses had earned over US$1.2 billion.
The company’s current best selling active pharmaceutical ingredients include finasteride, with sales worth Rs952 million, ramipril, with sales worth Rs933 million, and ciprofloxacin, with sales worth Rs818 million. Sales of olanzapine were also fruitful in the latest fiscal year, rising by 359% to Rs721 million.
Dr Reddy’s is also represented in Western Europe, Russia and Asia. In 2002, the company made its first overseas acquisitions, both in the UK. In November 2005, Dr Reddy’s announced it had signed a definitive agreement to acquire Roche’s API business in Cuernavaca, Mexico. In March 2006, Dr Reddy’s completed its purchase of the German generic pharmaceutical firm, betapharm, from 3i, in a deal worth 480 million euros in cash. In 2007, the company announced that it was making the UK its European headquarters.
In April 2008, Dr Reddy’s agreed to acquire BASF’s pharmaceutical contract manufacturing business and related facility in Shreveport, Louisiana. During the same period, Dow Chemical finalised the sale of its Dowpharma Small Molecules business associated with its UK sites to Dr Reddy’s. Dr Reddy’s also acquired the Pisa, Italy-based Jet Generici.
Executive Summary
These generics company reports will help you to understand the dynamic and complex issues affecting the business of leading generic industry players. These informative reports provide an insight into the company, covering the structure of the business, the most recent quarterly and annual financial results, information on the companys active product lines and ANDA approvals, along with a review of major developments, such as M&A activity, strategic alliances, and litigation.
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