Dr Reddy’s sees strong growth in 2012 business year

Dr Reddy's Laboratories has announced its financial results for its 2012 business year, during which the company experienced strong double-digit growth.

During the 12 months ending on March 31st 2012, the company generated a consolidated revenue total of $1.9 billion (1.19 billion pounds), representing a year-on-year increase of 30 percent.

This growth was driven by a strong performance in its key markets of North America and Russia, with both its global generics division and pharmaceutical services and active ingredients segment seeing significant success.

During the year, Dr Reddy's was able to launch 141 new generic products, file 88 new product registrations and submit 68 drug master files on a global basis.

It also achieved a slight increase in its gross profit margin, rising from 54 percent in 2011 to 55 percent over the last 12 months.

Dr Reddy's was launched in 1984 and is now one of the world's largest generic medicine specialists, being the first Asia-Pacific pharmaceutical company outside of Japan to be listed on the New York Stock Exchange.