Dr Reddy’s sees strong double-digit growth in Q3 2013

Dr Reddy's Laboratories has highlighted the strong double-digit sales growth it achieved during the third quarter of its 2013 business year, which ended on December 31st 2012.

During the three-month period, the generic medicines specialist delivered a consolidated revenue total of 28.7 billion rupees (342.09 million pounds), up by 23 percent on the corresponding period of 2011.

For the nine months of the business year to date, this total comes to 82.9 billion rupees, representing a year-on-year increase of 26 percent, thanks to strong growth of its global generics business.

The encouraging performance of the company's key North American and emerging market territories helped to offset the depressed conditions seen in Europe, while its pharmaceutical services and active ingredients business also achieved double-digit growth.

During the quarter, 13 drug master files were submitted globally, including three in the US and one in Europe, bringing its cumulative number of filings as of December 31st 2012 to 566.

The firm is one of India's leading pharmaceutical companies and was originally founded in 1984, growing since then to a position of global prominence.