Dr. Reddy’s Key Near Term Earnings Catalysts: Nirmal Bang
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Nirmal Bang Report
Consistent delay in the approval of its complex generic pipeline (Copaxone and Nuvaring) and underperformance in Q3 FY21 have led to the Dr. Reddy’s Laboratories Ltd. stock price correct meaningfully from its highs in the recent past.
As we move forward, we foresee important catalysts that should help drive strong growth in FY22 earnings.
- The company has applied for emergency authorization of its in-licensed Covid-19 vaccine from Drugs Controller General of India and is currently awaiting approval.
- The company had launched generic Kuvan in tablet form in October 2020 in the U.S., while it is yet to launch the powder version which has a 70% volume share and should help the company garner a larger share.
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