Telugu Super News,India,March 17, 2023:Dr. Reddy’s Laboratories Ltd. (BSE: 500124, NSE: DRREDDY, NYSE: RDY, NSEIFSC: DRREDDY, along with its subsidiaries together referred to as “Dr. Reddy’s”), today announced the signing of a deal to divest certain non-core brands of the company in the dermatology segments to Eris Lifesciences Limited (BSE: 540596, NSE: ERIS).
Under the agreement, Eris Lifesciences will be assigned the trademark of these brands by Dr. Reddy’s for a consideration of Rs. 275 cr. As per IQVIA MAT December 2022, the divested portfolio saw sales of Rs. 60 cr in India.
M.V. Ramana, CEO – Branded Markets (India & Emerging Markets), said: “India is a focus market for us. We aspire to break into the top 5 in India. Today’s announcement is in line with our stated intention of pursuing a strategy that involves growing brands organically combined with acquisitions that are a strategic fit and divestment of non-core brands. This deal is a further step towards consolidating our core and helping us deliver focused play in India in keeping with our purpose of ‘Good Health Can’t Wait’.”
Telugu Super News,Hyderabad, India;January 23, 2023–Dr. Reddy’s Laboratories Ltd. (BSE: 500124, NSE: DRREDDY, NYSE:RDY, NSEIFSC: DRREDDY; hereafter referred to as “Dr. Reddy’s”), a global pharmaceutical company, announced that it has successfully completed the full set of clinical studies of its proposed rituximab biosimilar candidate, DRL_RI, for filing in highly regulated markets such as the United States, Europe and other regions.
DRL_RI is being developed as a biosimilar of rituximab, a cluster of differentiation 20 (CD20) directed cytolytic antibody for approval in the United States, European Union and other regions for various indications including treatment of adult patients with rheumatoid arthritis, non-Hodgkin’s lymphoma, chronic lymphocytic leukaemia, pemphigus vulgaris, granulomatosis with polyangiitis and microscopic polyangiitis.
Dr. Reddy’s rituximab biosimilar has already been approved for marketing in India and over 25 emerging markets. The company undertook further clinical development to meet regulatory requirements of highly regulated markets. With the successful completion of these clinical studies, Dr. Reddy’s is now preparing to file Biologics License Application (BLA)/Marketing Authorisation Application (MAA) dossiers with various regulatory authorities globally.
Dr. Jayanth Sridhar, Global Head of Biologics at Dr. Reddy’s, said: “This is a very important milestone in our biosimilars journey. The successful completion and positive outcome of these clinical studies highlights our capability for global clinical development of biosimilar products for highly regulated and global markets. These results underscore our commitment to developing high quality biosimilarsand reinforce the potential of DRL_RI as a safe and effective treatment option to patients across the globe.”
Dr. Reddy’s is currently collaborating with its partner Fresenius Kabi to commercialise its proposed biosimilar of rituximab in the United States. The company intends to commercialise the product in Europe and othergeographies directly.
365Telugu.com Onaline news,Hyderabad, January 21, 2023 :Dr. Reddy’s Laboratories Ltd. (BSE: 500124, NSE: DRREDDY, NYSE:RDY, NSEIFSC: DRREDDY; hereafter referred to as “Dr. Reddy’s”) announced a significant price reduction ofits trusted cardiovascular drug Cidmus.
It is a pharmaceutical composition containing a combination of sacubitril and valsartan, indicated for heart failure patients with reduced ejection fraction.
Dr. Reddy’s Cidmus® tablets are available in three strengths – 50mg, 100mg and 200mg, to be taken twice a day. Following the price reduction, Cidmus® will be priced at Rs. 29 for 50mg (down from Rs. 78.32), Rs. 49 for 100mg (down from Rs. 83.86) and Rs. 79 for 200mg (down from Rs. 96.71) per tablet. The product will be manufactured in-house.
The Active Pharmaceutical Ingredient (API) of Cidmus® is manufactured at a USFDA- approved facility. Dr. Reddy’s Cidmus® has a co-crystal formulation that enhances bioavailability, solubility and physical and chemical properties of the drug 1 . There is a growing incidence of chronic diseases in India, and heart failure is one of them. It is estimated that India has between 8-10 million heart failure patients 2 .
Dr. Reddy’s acquired the cardiovascular brand Cidmus® from Novartis AG in 2022 for the India market. Driven by the company’s strong marketing and distribution network, Cidmus® has reached over 1 lakh patients in India with a market share of 32% 3 . Cidmus® is part of a trusted portfolio of medicines offered to patients in the cardiovascular segment by Dr. Reddy’s alongside its leading brands such as Stamlo®, Stamlo® Beta, Reclide®-XR and Reclimet®-XR. This price reduction will further widen access to this trusted and established brand in keeping with its purpose of ‘Good Health Can’t
First-in-class CDK 4/6 inhibitor indicated in combination with an aromatase inhibitor for the first-line treatment of adult patients with HR+, HER2- metastatic breast cancer
Dr. Reddy’s has acquired trademark rights to the product for use in India from Pfizer Products India Pvt Ltd.
In-house manufacturing of API and finished drug at USFDA-approved facilities
Dr. Reddy’s among select companies to have conducted bioequivalence study and has already received tentative approval from the USFDA
PRIMCYV® will be retailed in India at an 85% reduction from the current MRP to widen patient access to the trusted brand and high-quality product
The company plans to roll out a unique Patient Assistance Programme (PAP) to support long-term therapy of patients on PRIMCYV®.
Telugu super news,Hyderabad, January 13, 2023 : Dr. Reddy’s Laboratories Ltd. (BSE: 500124, NSE: DRREDDY, NYSE: RDY, NSEIFSC: DRREDDY; hereafter referred to as “Dr. Reddy’s”), announced that it has acquired the trademark rights of the breast cancer drug PRIMCYV® from Pfizer Products India Pvt Ltd for use in the Indian market.
PRIMCYV® is a targeted therapy containing the active constituent palbociclib, a first-in-class CDK 4/6 inhibitor indicated in combination with an aromatase inhibitor for the first-line treatment of adult patients with HR+, HER2- metastatic breast cancer. Since May 2022, Dr. Reddy’s has been marketing the drug in collaboration with Pfizer Products India Pvt Ltd under the brand name PRIMCYV® in India. The drug comes in the form of hard capsules in strengths of 75 mg, 100 mg and 125 mg.
Following the trademark rights acquisition, Dr. Reddy’s will manufacture the Active Pharmaceutical Ingredient (API) and finished drug at its state-of-the-art facilities approved by the United States Food and Drug Administration (USFDA). Dr. Reddy’s is amongst select companies in the world to have conducted a bioequivalence study and received tentative approval from the USFDA for palbociclib. The in-house product will be retailed in the Indian market at a reduction of 85% from the current MRP to increase affordability and access to palbociclib. Dr. Reddy’s plans to roll out a unique Patient Assistance Programme to support long-term therapy of the patients on PRIMCYV®. Through leading brands such as Hervycta, Mitotax, Docetere, Nab Mitotax, PRIMCYV and others, Dr. Reddy’s has made a portfolio of reliable and high-quality medicines available to patients in India in keeping with its purpose of ‘Good Health Can’t Wait’.
Telugu super News,India, December 20, 2022 – Dr. Reddy’s Laboratories Ltd. (BSE: 500124, NSE: DRREDDY, NYSE: RDY, NSEIFSC: DRREDDY; hereafter referred to as “Dr. Reddy’s”), a global pharmaceutical company, announced that its tocilizumab biosimilar candidate, DRL_TC, successfully met its primary and secondary endpoints in a Phase 1 study. This Phase 1 study used a subcutaneous formulation to evaluate the pharmacokinetic equivalence, safety and immunogenicity of Dr. Reddy’s tocilizumab biosimilar candidate in comparison to reference products.
The Phase 1 study entitled ‘A Single Dose, Double-Blind, Two-Period, Crossover, Comparative Pharmacokinetic Study of Three Tocilizumab Products Administered by the Subcutaneous Route to Normal Healthy Volunteers’ met all primary and secondary endpoints. Pharmacokinetic equivalence of DRL_TC to the EU reference medicinal product* and the U.S. reference product** was successfully demonstrated. The clinical trial also confirmed the similarity between DRL_TC and the EU* and U.S.** reference products in terms of pharmacodynamic parameters and found no noteworthy differences in safety and immunogenicity across these three treatment groups.
The successful outcome of this study represents an important milestone in Dr. Reddy’s commitment to making high-quality biosimilar products more accessible and affordable to healthcare providers and patients around the world. Dr. Reddy’s is developing the proposed tocilizumab biosimilar as both subcutaneous and intravenous formulations.
Jayanth Sridhar, Global Head of Biologics at Dr. Reddy’s, said: “Tocilizumab is an important anti-rheumatic agent that has a unique place in treating patients with rheumatoid arthritis and other diseases. We are excited to continue our journey in developing this biosimilar and making this product affordable to patients across the globe. My congratulations to the team especially for the way they navigated multiple challenges during the COVID-19 period in conducting the trial. We look forward to following this up with other agents that solve for critical patient needs in the auto-immune disease area.”
The company is initiating a global Phase 3 study with the aim of comparing the efficacy, safety, tolerability and immunogenicity of DRL_TC with the reference product in patients with moderate to severe active rheumatoid arthritis.
*EU reference medicinal product is RoActemra®
**U.S. reference product is Actemra®
Actemra® and RoActemra® are registered trademarks of Chugai Seiyaku Kabushiki Kaisha Corp., a member of the Roche Group.
Telugu super news,India,December 5, 2022: On the occasion of International Day of Persons with Disabilities (IDPD) on December 3rd, Dr. Reddy’s Foundation, a not-for-profit organisation, was conferred with the prestigious National Award for the Empowerment of Persons with Disabilities in New Delhi by the Honourable President of India. Dr. Reddy’s Foundation received the award under the category ‘Best Placement Agency for Persons with Disabilities’ as recognition of its contribution to the empowerment of persons with disabilities through its community initiative ‘GROW for Persons with Disabilities’ (GROW PwD). The Honourable President of India Smt. Droupadi Murmu presented the award to Satish Reddy, Chairman, Dr. Reddy’s Laboratories Ltd., and Dr. Reddy’s Foundation. Other members of the team who attended the felicitation ceremony included Shamik Trehan, CEO, Dr. Reddy’s Foundation, and Srilakshmi B., Lead – PwD, Dr. Reddy’s Foundation.
In 1999, Dr. Reddy’s Foundation (DRF) initiated the Livelihood Advancement Business School (LABS) initiative for skilling. In 2010, LABS was extended to include a programme for persons with disabilities (LABS PwD). In 2016, LABS PwD was re-modelled as GROW PwD. The programme currently caters to 11 different disabilities, including physical disabilities, vision impairment, speech and hearing impairment, intellectual disability, autism, and others. The programme operates in 16 states and 39 locations, and trains around 5,000 youth every year. GROW has successfully trained over 27,000 persons with disabilities so far with an employment placement rate of 65%. As a sixty-day full-time programme, GROW provides training in core employability skills to aspirants for entry-level jobs across sectors. All training centers are supported by sign language interpreters to deliver training to the youth with speech and hearing impairments.
An exclusive IT platform has been developed to maintain students’ databases, and an algorithm helps match aspirations with available jobs. DRF has also partnered with the Skill Council for Persons with Disability (SCPWD) for greater visibility and impact. It aims to provide advanced level training for graduates with disabilities to place them in multi-national companies, taking training deep into rural areas for skilling and employment opportunities within the local community. This is carried out through a hub-and-spoke programme and also sector-specific training especially in Business Process Outsourcing (BPO) and the Banking, Financial Services and Insurance (BFSI) sectors.
As a company, Dr. Reddy’s is committed to aiming for 3 per cent of its workforce to be comprised of persons with disabilities by 2030. Working towards a more compassionate and inclusive society is a key part of its Environment, Social, Governance (ESG) goals. This prestigious recognition will strengthen the company’s resolve and efforts in its diversity, equity and inclusion journey.
Note to editors: International Day of Persons with Disabilities is commemorated on 3rd December of every year. To mark the occasion, the Department of Empowerment of Persons with Disabilities, Ministry of Social Justice and Empowerment confers National Awards on individuals, institutions, states, districts, etc. for their outstanding work in the field of empowerment of Persons with Disabilities. To read more, please visit: https://pib.gov.in/PressReleasePage.aspx?PRID=1880649.
Telugusupernews.com,Hyderabad, India, July 29, 2022: Dr. Reddy’s Laboratories Ltd. (BSE: 500124 | NSE: DRREDDY |NYSE: RDY | NSEIFSC: DRREDDY) today announced its consolidated financial results for the quarter ended June 30, 2022. The information mentioned in this release is on the basis of consolidated financial statements under International Financial Reporting Standards (IFRS).
Commenting on the results, Co-Chairman & MD, G V Prasad said “Our underlying business revenues adjusted for covid products contribution during last year have grown well. The profits were aided by a few non-recurring incomes, offsetting the near term headwinds. We continue to improve the health of our core businesses through productivity improvement and robust product pipelines”. Revenues Gross Margin
Revenue Mix by Segment Segment Q1 FY23 Q1 FY22 YoY Gr %
Q4 FY22 QoQ Gr % (Rs.) (Rs.) (Rs.) Global Generics 44,324 41,113 8 46,118 (4) North America 17,815 17,390 2 19,971 (11) Europe 4,141 3,994 4 4,444 (7) India 13,339 10,600 26 9,689 38 Emerging Markets 9,028 9,129 (1) 12,013 (25) Pharmaceutical Services and Active Ingredients (PSAI) 7,090 7,540 (6) 7,557 (6) Others 740 541 37 693 7 Total 52,154 49,194 6 54,368 (4)
34%
8%
26% 17% 14% 1% Q1 FY23 Sales Mix
North America Europe India Emerging Markets PSAI Others
4
Revenue Analysis Global Generics (GG) Revenues from GG segment at Rs. 44.3 billion: Year-on-year growth of 8% was driven by new product launches across most of our businesses and divestment of a few non-core brands in India, partly offset by price erosion in our generic markets, and higher base due to covid product sales in previous year. Sequential decline of 4% was due to sales decline in North America (incremental competition on key products and price erosion) and Emerging Markets (normalization of channel inventory in Russia). This was partly offset by new product launches. North America Revenues from North America at Rs. 17.8 billion: Year-on-year growth of 2%, driven by launch of new products and favorable forex rates, which was offset by price erosion in some of our key molecules. Sequential decline of 11% was primarily on account of price erosion and decline in volumes for few products due to incremental competition. During this quarter, we launched 7 new products. This includes launch of Ketorolac, OTC Nicotine Lozenges Original, Methylprednisolone Sodium Succinate, Pemetrexed Injection, Posaconazole Tabs and Sorafenib in the US and Pemetrexed Inj. in Canada. We filed three ANDAs during the quarter. As of 30 th June 2022, cumulatively 86 generic filings are pending for approval with the USFDA (83 ANDAs and 3 NDAs under 505(b)(2) route). Out of these 86 pending filings, 44 are Para IVs and we believe 24 have ‘First to File’ status. Europe Revenues from Europe at Rs. 4.1 billion: Year-on-year growth of 4%, driven by launch of new products and scale up of base business, which was partly offset by price erosion in some molecules and adverse forex rates during the quarter. Sequential decline of 7% was primarily on account of price erosion and adverse forex rates, which was partly offset by volume traction in base business. India Revenues from India at Rs. 13.3 billion: Year-on-year growth of 26% was driven by divestment of a few non-core brands, revenue contribution from the products acquired / in-licensed from Novartis, growth in base business and new products contribution. The growth was partially offset due to covid product sales in Q1 FY22 which was not there in the current quarter.
5 Sequential growth of 38% was primarily driven by divestment of a few non-core brands, revenue contribution from the products acquired / in-licensed from Novartis, new products contribution and growth in base business. We launched five new products during the quarter. Emerging Markets Revenues from Emerging Markets at Rs. 9.0 billion. Year-on-year decline of 1% and sequential decline of 25%: Revenues for Russia at Rs. 3.2 billion. Year-on-year decline of 9% is primarily due to channel inventory normalization post stocking up in Q4 FY22, which was partly offset with launch of new products. Sequential decline of 53% was due to higher base in Q4 FY22 from brand divestment income and channel inventory normalization in the current quarter. Revenues from other CIS countries and Romania at Rs. 1.9 billion. Year-on-year growth of 33% driven by volume traction in base business, favorable price benefits in some of our products and launch of new products. Sequential decline of 16% was primarily on account of reduction in volumes. Revenues from Rest of World (RoW) territories at Rs. 3.9 billion. Year-on-year decline of 6% primarily on account of higher base in Q1 FY22 due to covid product sales and price decline in current quarter, partly offset by new product launches. Sequential growth of 36% was largely attributable to volume traction in our base business, price benefits in some of our markets and launch of new products. Pharmaceutical Services and Active Ingredients (PSAI) Revenues from PSAI at Rs. 7.1 billion. Year-on-year and sequential decline of 6% each. Year-on-year decline was primarily on account of higher base in Q1 FY22 with covid product sales, partly offset by new products launched and favorable forex rates. Sequential decline was primarily due to lower volumes of base business, partly offset by new product launches.
6
Income Statement Highlights: Gross profit margin at 49.9%:
Decreased by ~230 bps over previous year and by ~300 bps sequentially, primarily on account of higher commodity prices, adverse leverage on manufacturing overheads, price erosion and forex related impact, which was partially benefited from brand divestment income.
Gross profit margin for GG and PSAI business segments are at 55.0% and 15.7% respectively. Selling, general & administrative (SG&A) expenses at Rs. 15.5 billion, increased by 3% on a year- on-year basis and declined by 1% sequentially. Year-on-year increase was primarily attributable to investments being done towards marketing of some of our key brands, investments in digitalization and annual increments, which was partially offset with lower legal and professional expenses. On sequential basis, the expenses have been largely flat. Research & development (R&D) expenses at Rs. 4.3 billion. As % to revenues – Q1 FY23: 8.3% | Q4 FY22: 8.0% | Q1 FY22: 9.2%. Our focus continues on building a global pipeline of products across our markets. Other operating income at Rs. 6.0 billion compared to Rs. 0.5 billion in Q1 FY22. The increase was mainly on account of recognition of income from settlement agreement, with Indivior Inc., Indivior UK Limited and Aquestive Therapeutics, Inc., resolving all claims between the parties relating to the generic buprenorphine and naloxone sublingual film. Net Finance income at Rs. 2.3 billion compared to Rs. 0.7 billion in Q1 FY22. The increase was primarily on account of foreign exchange gains due to favorable ruble rates. Profit before Tax at Rs. 14.7 billion, increased by 97% year-on-year and increased by 490% sequentially. Profit after Tax at Rs. 11.9 billion. The effective tax rate is 19.0% for the quarter. Diluted earnings per share is at Rs. 71.40. Other Highlights: EBITDA is at Rs. 17.8 billion and the EBITDA margin is 34.1%. Capital expenditure is at Rs. 3.3 billion. Free cash-flow is a net outflow of Rs. 2.3 billion. Net cash surplus for the company is at Rs. 12.8 billion as on June 30, 2022. Consequently, net debt to equity ratio is (0.06).
7 Earnings Call Details (06:30 pm IST, 09:00 am EDT, July 28, 2022) The management of the Company will host an earnings call to discuss the Company’s financial performance and answer any questions from the participants. Conference Joining Information Option 1: Express Join with DiamondPass™ Pre-register with the below link and join without waiting for the operator. https://services.choruscall.in/DiamondPassRegistration/register?confirmationNumber=3962534&linkSecurityString=119134f0e6 Option 2: Join through below Dial-In Numbers Universal Access Number: +91 22 6280 1219 +91 22 7115 8120
No password/pin number is necessary to dial in to any of the above numbers. The operator will provide instructions on asking questions before and during the call. Play Back: The play back will be available after the earnings call, till August 3 rd , 2022. For play back dial in phone No: +91 22 7194 5757 | +91 22 6663 5757, and Playback Code is 96436. Transcript: Transcript of the Earnings call will be available on the Company’s
