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US, emerging markets to drive Dr Reddy’s growth in FY16
US, emerging markets to drive Dr Reddy’s growth in FY16. City-based Dr Reddy’s Laboratories Limited is expecting North America including the US and emerging markets such as India to drive its growth during the current fiscal.
Drug maker expects Indian pharmaceutical market to reach $20-30 bn mark by 2018
Hyderabad: City-based Dr Reddy’s Laboratories Limited is expecting North America including the US and emerging markets such as India to drive its growth during the current fiscal. The drug maker also estimates that Indian pharmaceutical market will grow to a total size of $20-30 billion by the year 2018.
“The company has a positive outlook for the next year. The largest increment of growth is expected to be contributed by the North American generics and emerging markets businesses,” the pharma major stated in its Annual Report for 2014-15.
Last fiscal, the pharma major clocked Rs 14,819 crore in total revenues, a year-on-year growth of 14 per cent, with major contributions from North America, India and other markets. However, income from Russian and CIS countries declined significantly. Its net profit went up by six per cent to reach Rs 2,816 crore.
“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,” said Satish Reddy, Chairman, Dr Reddy’s.
The company is of the view that its focus on profitable growth and targeting a leadership position in global generics and PSAI (pharmaceutical services and active ingredients) will create significant value in the near term. In global generics, improving depth through portfolio expansion, cost leadership, consistent delivery of limited competition products and supply chain excellence is expected to push the company into leadership positions in key markets.
“In PSAI, the objective is to be the partner of choice by creating compelling value for customers through leveraging IP, technology and cost leadership,” the company added. Also, the company is extremely bullish on Indian market which accounted for Rs 1,787 crore in generic sales last fiscal with a year-on-year growth of 13.7 per cent.
According to the company, Indian pharmaceutical market will grow at a combined annual growth rate of between nine and 12 per cent to reach around $20 billion to $30 billion by 2018. “This will be driven by epidemiological factors, increasing affordability, enhanced accessibility and rising acceptability,” it said. However, this will partially be offset by pricing controls put in place by the National Pharmaceutical Pricing Authority (NPPA) and high levels of competition due to existing market fragmentation.
By P Madhusudhan Reddy
