Dr Reddy’s reports first quarter results

Dr Reddy’s has posted its unaudited financial results for its first quarter of its current financial year, which ended June 30th 2009.

The company announced that its overall revenues rose by 21 per cent, standing at 18.2 billion rupees (228.6 million pounds).

In a statement, the firm attributed a large part of the increase to the success of its sumatriptan therapy and development in a number of key markets.

Revenues from Dr Reddy’s global generics business stood at 13 billion rupees, rising from 10.3 billion rupees during the same period last year.

“During the quarter, the company launched 24 new generic products, filed 22 new generic product registrations and filed four DMFs globally,” the company noted.

Concluding, Dr Reddy’s noted that revenue generated by its pharmaceutical services and active ingredients business increased by six per cent to 4.9 billion rupees when compared to the same period in the previous financial year.

In recent weeks, the firm announced a strategic alliance with GlaxoSmithKline to develop and market a range of products in emerging markets.