Dr Reddy’s International Business Makes Up For Domestic Decline
Company Begins To Integrate Wockhardt Business Following Acquisition
Dr Reddy’s saw growth particularly in Europe, North America and international markets in the firm’s financial first quarter ended June 2020. However, the company’s domestic business saw a decline of a due to the impact of COVID-19.
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As the global generics industry had predicted, the unexpected growth seen in the first quarter of 2020 due to forward buying caused by COVID-19 levelled off in the second quarter. However, a few companies managed to report a “mixed” second quarter or a positive first half for 2020, even after experiencing challenges, such as operational interruptions, posed by the pandemic.
Dr Reddy’s has completed its deal for Wockhardt’s branded generics business. However, the two companies have renegotiated the financial terms of the deal following the impact of the COVID-19 pandemic on Wockhardt’s business.
Japan’s Nippon Chemiphar has managed to reduce its rate of decline in pharmaceutical sales in the third quarter of FY21, on the back of well-performing recently-launched generics and group-wide structural reforms and cost reductions. The company is making no changes to its full-year forecast.