Dr Reddy’s Charts Sharp Cost Overhaul Amid Weak Q1
Dr Reddy’s plans a significant review of its “cost structure”, including potential portfolio rationalization and R&D site optimization, as part of broader efforts to emerge “leaner and agile” as it grapples with multiple business challenges that saw it post disappointing first quarter earnings.
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Dr. Reddy’s Laboratories, India’s second-largest drug firm by sales, has warned that its key US export market remains “unpredictable” after reporting a lower than expected fourth-quarter net profit that capped a tough year.
Dr Reddy’s Laboratories was battered on Indian bourses on March 9 after one of the firm’s formulation sites failed to get a clean chit from the FDA, piling up pressure on important US generic launch timelines.
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