Dr Reddy’s reports strong first-quarter growth

Dr Reddy's Laboratories has reported its financial results for the quarter ending on June 30th 2012, during which it experienced significant double-digit growth.

The company's consolidated revenues for the first quarter of its 2013 fiscal year came to 25.4 billion rupees (289.25 million pounds), up by 28 percent compared to the same period last year.

This was driven by improving performance in generic medicine sales across a number of key territories, including North America, Russia and other emerging markets.

During the period, the company launched a total of 33 generic products, filed 18 new product registrations and submitted seven drug master files on a global basis.

Last month, Dr Reddy's was also able to launch a new collaboration with Merck Serono that will see them co-developing a portfolio of biosimilar compounds in oncology.

This will allow the firm to establish itself in an important and increasingly profitable area of healthcare research, allowing it to deliver a wider range of products to global patients than ever.