Dr Reddy’s reports strong double-digit growth in latest fiscal quarter

Dr Reddy's Laboratories has published its financial results for the most recent fiscal quarter, during which it delivered a consolidated revenue total of 28.8 billion rupees (331.87 billion pounds).

This represents a 27 percent increase on a year over year basis and brings the company's sales total for the first half of its 2013 business year to 54.2 billion rupees, up by 28 percent annually.

Earnings and profits also experienced double-digit increases during a three-month period in which Dr Reddy's launched 18 new generic therapies, filed 11 product registrations and submitted ten drug master files.

The company's growth rate was strongest in North America, India and emerging markets, thanks to the introduction of products such as ziprasidone, tacrolimus, fondaparinux, clopidogrel in areas of limited competition.

In the US, 30 of its prescription portfolio are ranked among the top three in their respective market shares.

Dr Reddy's will also be expanding its European operations through an investment in the expansion of its UK manufacturing site in Mirfield.