Increased U.S. Generic Competition Offsets New Product Launches in Dr. Reddy’s Second Quarter
While U.S. generic drug price erosion was largely subdued relative to the first quarter of fiscal 2017, we expect the more competitive environment to persist, creating a new normal for Dr. Reddy’s U.S. generics business. Our model already incorporates these pricing headwinds offsetting the expected acceleration of product launches in the U.S. market, and we plan on maintaining our $38 (INR 2,560) per share fair value estimate. Despite the company’s recent pricing and regulatory woes, we believe ...Dr. Reddy's Laboratories is an integrated global pharmaceutical company committed to providing affordable and innovative medicines. Co. derives its revenues from the sale of finished dosage forms, active pharmaceutical ingredients and intermediates, development and manufacturing services provided to innovator pharmaceutical and biotechnology companies, and license fees from marketing authorizations for its products. Co.'s principal areas of operation are in global generics, pharmaceutical services and active ingredients, and proprietary products.
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