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Company Update: Dr Reddy’s Labs

Company Update: Dr Reddy’s Labs
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First Published: Fri, Mar 20 2009. 10 05 AM IST
Updated: Fri, Mar 20 2009. 10 05 AM IST
Dr Reddy’s (DRL) has announced realigning of its Global Generics strategy to focus on certain key geographies and to gradually exit some of the very small distributor driven markets.
The markets that DRL proposes to exit overall contribute less than 1% to its topline.
In addition to the US, India, Russia and CIS nations and Germany operations which already large contribute a substantial approx 90% (for 9 months Dec 2008) of the Global Generics revenues, the company will continue operations in 10-15 markets wherein its finished dosages sales are growing significantly.
The move represents the company’s renewed focus to consolidate and grow in its key geographies. We maintain a BUY on the stock, with a target price of Rs581.
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First Published: Fri, Mar 20 2009. 10 05 AM IST
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