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Systematix Report
Shares of Dr Reddy's Laboratories Ltd. may remain in focus after brokerage firm Systematix Research downgraded the stock to 'Hold' from 'Buy' and reduced its target price to Rs 1,398 from a higher earlier valuation, citing uncertainty arising from a temporary disruption in commercial supplies of its highly anticipated Semaglutide injection.
The brokerage's cautious stance comes after Dr Reddy's disclosed that it had temporarily suspended commercial supplies of Semaglutide injections following the identification of an out-of-specification impurity during the API scale-up validation process. The company is now undertaking process optimisation and revalidation before restarting commercial production.
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