DRREDDY / Q2-FY25 / claim-ledger

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Dr. Reddy's Laboratories · Analyst questions, management answers, and the quality of the response where the ledger is available.

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PositiveQ2-FY25 · 2024-10-23Back to quarter ↗

Questions audited

Answered directly

79%

Numeric claims

Consistency

contradicted

Question ledger

What was answered, and how?

Kunal Damesha · Macquarie

direct

Is North America pricing stable despite sequential volume decline?

The prices are relatively stable in the way we normally calculate them. We did not have major issues on the big products that we normally discussed.

Kunal Damesha · Macquarie

direct

Is India base business growth double-digit excluding Sanofi vaccine?

It's almost there. It's 9 point something% even without the vaccine.

Neha Manpuria · Bank of America

partial

When will high-value US launches materialize given facility clearances?

I hope that you'll see it all with Q3, but I cannot guarantee that it's about the ability to get approval. But we have a couple of those kind of products waiting for approval by the US FDA.

Neha Manpuria · Bank of America

direct

How much R&D spend is on biosimilars and OncoAsset?

Out of the total R&D, 36% is going to both biologics as well as Aurigene. The generics is about 50% of the number of the R&D, and 40% is attributed to the API.

Amey Chalke · JM Financial

evasive

Will Revlimid sales be similar in H2 vs H1?

I cannot speak about the sales of Revlimid per se because of the agreement. But let's say we are going to see that it will continue to be very healthy also in the remainder of the year.

Amey Chalke · JM Financial

partial

Will SG&A spend remain elevated post FY26?

The level of the SG&A in the B2B markets is obviously lower. So part of the SG&A growth is also part of the mix of the markets that is changing. In terms of the growth of the SG&A, it will be much, much more moderated.

Harith Ahamed · Avendus Spark

direct

What is the timeline for Rituximab biosimilar launch in Europe and US?

The European launch is planned for February 2025. And as for the U.S., we did submit a response to the US FDA, and likely that it will be in the first half of FY 2026.

Harith Ahamed · Avendus Spark

direct

What percentage of lenalidomide intangibles was impaired?

We have provided full carrying value because the existing contract manufacturing organization is unable to supply the product. Hence, I think we have provided 100% of the carrying value.

Damayanti Kerai · HSBC

partial

Can material products in 1-2 years cover Revlimid sales loss?

There is a healthy pipeline of about 20-plus products of that nature that have relatively higher value. Of course, most of them are approval-dependent, so it's hard to know when exactly we will launch them.

Damayanti Kerai · HSBC

direct

What sales were booked from Nestlé JV in Q2?

Right now, it's very small. It's in tens of crores. Let's say somewhere between 50, 60 crores. It's not significant.

Bino Pathiparampil · Elara Capital

direct

Is Abatacept launch timeline calendar 2027?

Yes. Calendar 2027. Yeah.

Kunal Randeria · Axis Capital

direct

What launch position for Denosumab biosimilar in US?

It depends, of course, on the success of the others, but it should be somewhere between number three to number five, I believe.