Dr. Reddy's Laboratories Ltd. Sponsored ADR (NSE:DRREDDY) saw mixed results as Q1 revenue of ₹8,070.5cr and EBITDA of ₹1,009cr were hit by a ₹240cr provisional semaglutide API charge and 35% North America decline, while FDA cleared a Rituxan biosimilar and Thailand approved Nuzolvence.
Previous Week Recap
- FDA Approves Rituxan Biosimilar: FDA approved a Rituxan biosimilar after pre-license inspection of Dr. Reddy’s Bachupally biologics facility; review found analytical, nonclinical and clinical data showing biosimilarity for DRREDDY.
- Dr. Reddy's Q1 Highlights: Dr. Reddy's (DRREDDY) Q1 net ₹443.5cr vs ₹1,418cr YoY; revenue ₹8,070.5cr; EBITDA ₹1,009cr (12.5%); ₹240cr provisional charge from semaglutide API; North America sales down 35%.
- Thailand OKs Nuzolvence Approval: Dr. Reddy's Laboratories (DRREDDY) said Thailand’s FDA approved Nuzolvence (zoliflodacin). Company confirmed regulatory approval in Thailand for the drug.
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