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Dr. Reddy’s tanks as Q1FY2017 results disappoint

Discussion in 'Stock Market Discussions' started by capitalstars05, Jul 27, 2016.

  1. capitalstars05

    capitalstars05 New Member

    Sep 26, 2014
    Likes Received:
    Shares of Dr. Reddy’s tanked 11% to Rs 2980 on NSE post Q1FY2017 results which were disappointing; FDA resolution key for on track performance from H2FY17.
    Fall in revenue from global generics: Revenue from the global generics segment declined 14 %YoY basis to Rs2,660 crore for the quarter, primarily on account of lower contribution from North America and loss of sale from Venezuela.
    North America declined by 16% to Rs1, 550 crore, which was impacted by increased competition in Valgancyclovir and Azacitidine, coupled with pricing pressure and moderation in volume take-off.

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