Dr Reddy’s Laboratories sees further growth in 2012 third quarter

Dr Reddy's Laboratories has experienced year-on-year growth in the third quarter of its 2012 financial year, ending on December 31st 2011.

The generics specialist's revenue for the three months totalled $522 million (330.5 million pounds), up by 46 percent compared to the corresponding period of last year, while profit levels rose by 59 percent.

In the last quarter, the company was able to achieve a number of key milestones, including the launch of 33 new generic products, such as olanzapine – an off-label version of Lilly's Zyprexa – in the US.

Strong volume growth was contributed by key products such as lansoprazole, tacrolimus and omeprazole, while 26 of its prescription products featured among the top three in their categories in terms of US market share.

Meanwhile, 16 new generic filings and seven drug master file submissions also took place, which will help to support Dr Reddy's future operations.

This builds on the strong performance seen by the company in the second quarter, during which it recorded a year-on-year rise in consolidated revenue of 21 percent.