Dr Reddys Laboratories Ltd Stock Quotes and Charts
Dr Reddys Laboratories Ltd on April 03, 2008 has announced that it has acquired Jet Generici Sri, a Company engaged in the sale of generic finished dosages in Italy. <br>Mr. VS Vasudevan, President & Head - Europe Operations said "The acquisition has been well timed, since Dr Reddy`s will be able to immediately supplement the Jet Generici portfolio via its own pipeline. We already have registration for one significant Dr Reddy's product, and a strong pipeline of registration applications. We believe that this strategic investment will generate substantial opportunities for long-term value creation in one of the fastest growing generic markets of the world."
<b>Buy@ Rs 693 For target of Rs 762 In 6 Months.</b><br><br>Dr. Reddy's Laboratories (DRL) is a leading Indian pharmaceutical company with vertically integrated operations. The company develops, manufactures and markets a wide range of pharmaceutical products in India and overseas. Dr. Reddy's produces finished dosage forms, active pharmaceutical ingredients, diagnostic kits, critical care and biotechnology products. The company has over 190 finished dosage brands and 60 active pharmaceutical ingredients currently in production. <br> DRL is a vertically integrated pharmaceutical company with a presence in over 100 countries, and is one of the leading global generic pharmaceutical companies by revenues. The strong portfolio of businesses, geographies and products provide strategic benefits of vertical integration that allow us to excel in an increasingly competitive global market.<br> <br> The company has successfully entered the US with both Active Pharmaceuticals Ingredients (API) and Generic Formulations. The company has two US-FDA approved plants. It has been exporting its products to the UK, Switzerland, Germany, Spain, Italy and the Netherlands. It also started exporting its formulations in a big way to Russia and has set up an office there. <br> <br> Dr Reddy's Laboratories (DRL) is set to acquire small companies globally instead of going for big-bang deals to push sales in overseas markets. The $1.5 billion company is now looking at acquisitions in areas such as branded formulations in the US, generics and custom pharma services (CPS) in the US and other markets. The company plans to use the acquisition route to expand its presence in this segment in markets where it does not have a critical mass. DRL's announcement last week to acquire the world's leading chemical company BASF's contract manufacturing business and related facility in the US for $40 million ties up with this goal.<br> <br> Net profit of Dr Reddy's Laboratories declined 39.66% to Rs 162.26 crore in the quarter ended March 2008 as against Rs 268.90 crore during the previous quarter ended March 2007. Sales declined 10.91% to Rs 984.23 crore in the quarter ended March 2008 as against Rs 1104.75 crore during the previous quarter ended March 2007. For the full year, net profit declined 59.62% to Rs 475.22 crore in the year ended March 2008 as against Rs 1176.86 crore during the previous year ended March 2007. Sales declined 14.97% to Rs 3365.20 crore in the year ended March 2008 as against Rs 3957.56 crore during the previous year ended March 2007.<br> <br> Dr Reddys Laboratories has entered into an agreement with Skye Pharma PLC to undertake a feasibility study of a product utilizing two of Skye Pharma's proprietary drug delivery systems. The costs of this study will be paid by Dr Reddy's. Skye Pharma will also receive an upfront payment. If the feasibility study is successful, full development activities will begin later this year.<br> <br> Dr Reddy's Laboratories Ltd completed the acquisition of Dow Chemical company's Dow pharma small molecules business associated with its Mirfield and Cambridge, UK sites and BASF's pharmaceutical contract manufacturing business and related facility in Shreveport, Louisiana, SA, according to a release. The Hyderabad-based pharma major had entered into definitive agreements in April 2008 to acquire Dow pharma and BASF's pharmaceutical contract manufacturing business and facility. The acquisition of $43 million revenue generating business of BASF and the US Food and Drug Administration approved facility to manufacture solid, semi-solid and liquid dosage forms is in line with Dr Reddy's strategy.<br> <br> Dr Reddy, with plans to launch its speciality initiative in the dermatology sector in the US later this fiscal, DRL is scouting for small brands or companies with marketed products that would bolster this foray. The speciality initiative involves taking an existing molecule and looking at better delivery systems. The company has also in-licensed three molecules in this space, from two US companies and one European company.
This is a useless bully run for this useless stock. Everyone is selling this stock - one day, ordinary investor will get this stock for 300... If people invested the money in very ordinary stocks, they tripled, this stock did not even double in 4 years.. 2004 it was approx 1100/+... The management is a useless bunch of people who do not know pharmaceuticals, I suppose...
Revenues grow by an impressive 25% YoY in 1QFY09 driven by the key markets of North America, Russia and Germany. A steep rise in raw material and staff costs weigh heavy on the operating margins, which tumble by 7.2% during the quarter. A slump in operating profits coupled with higher tax expenses and depreciation charges cause the bottomline to register a sharp 51% YoY fall.
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