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KRChoksey Research Report
Dr. Reddy's Laboratories Ltd. posted strong growth in consolidated revenue in FY22, driven by a rise in base business volume and new product launches.
Geographically, the revenue growth was largely influenced by strong growth across markets such as India, the U.S., Russia, and others. U.S. generics business crossed the $1.0 billion mark in FY22, driven by high-value launches such as gVascepa or Icosapent Ethyl soft gel and gVascostrict or Vasopressin injections (first authorised generic to launch) and enhancement in volume share of the existing products, which more than offset the price erosion.
Dr. Reddy's Russia revenue grew at 32.0% YoY in FY22, driven by improved performance of the base business, the launch of new products, and divestment income from the sale of a few non-core brands such as Ciprolet and Levolet for Rs 1.77 billion in Q4 FY22.
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