Buoyed by good performance last fiscal, drug major Dr Reddy's laboratories is looking for ‘an even better year’ ahead with its generics business in North America and emerging markets becoming the main growth driver, backed by launch of new formulations.In his letter to shareholders, the drug maker's Chairman Satish Reddy said: “I look forward to an even better year in FY16. A year when we will introduce new formulations, maintain best-in class globally certified scientific, technological and manufacturing facilities, and remain both strategic and nimble in providing complex medicines to meet critical therapeutic needs.”
Dr Reddy's had posted consolidated net revenue of `14,819 crore, up 12 per cent and profit after tax of `2,218 crore for the fiscal year 2014-15, up 3 per cent. The company is "well on track with the introduction of new generics in the US market. As of March 31, 2015, we have 68 abbreviated new drug applications (ANDAs) filed for approval from the US Food and Drug Administration (USFDA)”, he said. Of these, 43 are Para IV filings, and we believe that 13 of them have the 'First to File' status, the Chairman said.
Elaborating on growth positive expectations, Dr Reddy's laboratories said: “The largest increment of growth is expected to be contributed by the North America generics and Emerging Markets businesses.”