Dr. Reddy’s: Outpaces industry again - Views on News from Equitymaster

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Dr. Reddy’s: Outpaces industry again

Jan 18, 2001

Dr.Reddy Laboratories has reported a 28% growth in third quarter sales to Rs. 2173.13 m as against Rs. 1693.09 m in the same period of FY00. (The sales figures include those of Cheminor Laboratories for both the years.)

Sales mix
(Rs m) 3QFY00 3QFY01 Growth %
Bulk Actives 856 1,091 27.0%
–India 347 338 -3.0%
–International 509 752 48.0%
Generics - 57 -
Finished Dosages 798 998 25.0%
– India 565 700 24.0%
–International 233 299 28.0%
           -Russian 163 199 22.0%
           -Others 69 100 44.0%
Diagnostics 39 27 -31.0%
Total 1,693 2,173 28.0%

While the bulk actives business grew by 27% the generic sales in developed market took off in the third quarter of December 31, 2000. The finished dosages at Rs. 998 m contributed to 46% of revenues. Another significant development in the third quarter was the fact that the company’s anti-cancer compound DRF 1042 entered Phase I of clinical trials.

During the quarter all the company’s main brands Omez (anti–ulcer), Nise (anti–pain), Enam (cardiovascular) and Stamlo registered growth rates much higher than the rate of growth of overall pharmaceutical formulations. While the industry grew by 11%, Omez grew by 20%. Nise registered a growth of 17%, while Enam and Stamlo (including Stamlo Beta) grew by 29% and 26% respectively. The company also launched eight new brands, which catered to therapeutic areas such as anti–arthritis, anti–diabetes and cholesterol reducers.

The company is slated to declare full results on January 30, 2001. The stock quotes at Rs 1353 currently.

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