Dr Reddy’s Signals Reset In Europe
Benefits From New Launches And COVID-19
Dr Reddy’s enjoyed a strong showing in Europe in the fiscal fourth quarter amid a string of launches and a ramp-up in France, Italy and Spain, with the Indian firm anticipating continued momentum in the region by leveraging its global portfolio. The firm’s China growth strategy is 'still valid', management maintains.
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Dr Reddy’s has launched the first generic version of Daraprim in the US. The company has also introduced naloxone with 180 days of exclusivity under the FDA’s Competitive Generic Therapy pathway, as well as the first US generic of ziprasidone mesylate.
Dr Reddy’s Laboratories reported an unexpected third-quarter consolidated net loss after taking a $156m charge related to its generic version of the NuvaRing contraceptive. However, the company’s shares jumped on a robust underlying performance that was praised by analysts.