LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » World News

Dr Reddy's Q1 profit slumps on pricing pressures in U.S.

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Updated: Thu, Jul 27, 2017
03:09 pm
Reuters

Dr. Reddy`s Laboratories Ltd said its first-quarter profit more than halved from a year ago, as regulatory hurdles and pricing pressures in its biggest market, the United States, dragged on the drugmaker`s earnings.

Export-driven Indian drugmakers have been working on making high-value complex generics to offset growing competition in the United States. But their ability to negotiate on prices has been hit by consolidation among drug distributors. Compounding their woes is U.S. regulatory scrutiny of foreign manufacturing sites that has led to bans on many plants over quality control issues.

Dr. Reddy`s, among India`s top 5 drugmakers, on Thursday posted a net profit of 666 million rupees ($10.39 million), versus 1.54 billion rupees a year ago. (http://bit.ly/2v0Cmee)

Results were below expectations due to lower contribution from new product launches in the United States, said the company`s co-chairman and CEO, G.V.Prasad.

The implementation of a new tax structure in India also dragged, Prasad added, referring to the Goods and Service Tax that was unveiled on July 1 in what is the country`s biggest tax reform in the 70 years since its independence.

Revenue from the company`s global generics business in North America fell 4 percent to 14.95 billion rupees in the quarter, while revenue from India dropped 10 percent.

($1 = 64.1225 Indian rupees)

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:

LATEST NEWS

Kareena Kapoor posts first photo of herself after welcoming second baby, says ''missed you all''

Alia Bhatt launches her ''Eternal Sunshine Productions''

Kiara Advani, Bani J feature in Raja Kumari's new track ''I'm a Rebel''

Parents alert! Your kids spending long hours on smartphone? Don't panic - Read this

Salaar Movie: Check release date, new poster, cast, other details of Prabhas, Shruti Haasan, KGF maker's film

Gold Price Today 1-03-2021 – Despite fall in prices, Indian consumers not benefitting as much; expert tells why

This is why Bill Gates prefers Android over iPhone

LPG cylinder price, petrol, diesel prices to this SBI norm - 5 rules that changed from today - March 1, 2021

Tech analysis on Big Bull Rakesh Jhunjhunwala stocks: Tata Motors, Titan, Lupin and Escorts

Yes Bank Share price today: Technical and Fundamental Analysis I Investec cuts target price to Rs 19

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved