Dr. Reddy's fourth-quarter revenue climbs 14 percent, led by generic drug sales in emerging markets

Headline results for the fourth quarter:

Revenue

40.2 billion rupees ($573 million)

+14%

Profit

4.3 billion rupees ($61 million)

+44%

Note: All changes are versus the prior-year period unless otherwise stated

What the company said:

"It has been a good year with a significant turnaround in the financial performance and steady progress on the quality front," remarked CEO GV Prasad. "Looking ahead, we will focus on profitable growth, continue the emphasis on operational excellence and drive innovation to deliver value to patients and healthcare systems worldwide," Prasad added.

Other results:

  • Global generics revenue: 30.4 billion rupees ($433 million), up 9 percent
    • North American generics revenue: 15 billion rupees ($214 million), up 3 percent, with new product launches, including generic versions of Adcirca and Cialis, offsetting price erosion on some key drugs
    • Generics sales in emerging markets: 7 billion rupees ($100 million), up 27 percent, with growth of 41 percent in Russia, mainly due to "scale up" of the Nasivin launch
    • Generics sales in India: 6.5 billion rupees ($93 million), up 6 percent, with growth in base business and new product launches
    • European generics revenue: 1.9 billion rupees ($27 million), up 12 percent, with new product launches more than offsetting  price  erosion
  • Sales from Pharmaceutical Services and Active Ingredients: 6.8 billion rupees ($97 million), up 8 percent
  • Full-year revenue: 153.8 billion rupees ($2.2 billion), up 8 percent
  • Full-year profit: 18.8 billion rupees ($268 million), up 92 percent

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