Shares of this small-cap pharmaceutical company which offers a portfolio of products and services, including Active Pharmaceutical Ingredients (APIs) surged xx percent on launching the first and only oncology drug approved for neck and head cancer in India first neck.
Price Variation
In Thursday’s trading session, Dr Reddys Laboratories Ltd‘s shares reached an intra-day high of Rs.1,209.90 per share from its previous close of Rs.1,199.90 per share. The shares have retreated since then and currently trading at Rs.1,190.00 per share. Over the past five years, the shares have delivered over 100 percent returns.
What happened
Dr. Reddy’s has launched Toripalimab in India, marking it as the first and only immuno-oncology drug approved for treating nasopharyngeal carcinoma. Approved by global regulators such as the USFDA, DCGI, EMA, MHRA, and NMPA, Toripalimab is designed for adults with recurrent or metastatic nasopharyngeal carcinoma.
Clinical studies show that when combined with standard chemotherapy, it reduces the risk of disease progression or death by 48 percent. India becomes the third country to offer this New Biological Entity, following its launch in the U.S. in the same year.
Management Commentary
M.V. Ramana, Chief Executive Officer, Branded Markets (India and Emerging Markets), Dr. Reddy’s, said, “The launch of Toripalimab is a major milestone for patients with nasopharyngeal carcinoma (NPC) in India. NPC, a rare form of head and neck cancer, has a poor prognosis in advanced stages, and India is among the top five countries with the highest disease burden.
As a next-generation PD-1 inhibitor, Toripalimab has shown better outcomes for RM-NPC compared to the standard of care, addressing a significant unmet need for NPC patients in India.”
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Revenue Segmentation
The segment-wise revenue for the company is as follows – Pharmaceutical Services and Active Ingredients at Rs.11,030 crore (13.3 percent), Global Generics at Rs.71,576 crore (86.4 percent), and Others at Rs.179 crore (0.2 percent).
Financial Performance
In the quarter ending September 2024, Dr. Reddy’s Laboratories saw its revenue rise significantly by 24.5 percent to Rs.8,038 crores compared to Rs.6,903 crore in Q2 FY24. The company’s Profit After Tax (PAT) remained stable at around Rs.1,917 crores in Q2 FY25 compared to the same quarter a year ago.
About the company
Dr. Reddy’s Laboratories is an Indian multinational pharmaceutical company that manufactures and markets a wide range of pharmaceuticals in India and overseas. The company manufactures and markets generic formulations, active pharmaceutical ingredients (APIs), biosimilars, and proprietary products.
Written by – Siddesh S Raskar
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