New Delhi, Nov. 8 -- Dr Reddy's Laboratories Ltd's better-than-estimated second-quarter earnings have not generated much buzz. That's because profit got a boost from a one-off income from the sale of rights to two of its products. Besides, generic pricing pressures continue in the US in certain pockets, even though that could be more acute for newer products. Shares of Dr Reddy's fell 1.02% on Friday, 1 November, post the earnings announcement.
Revenue growth in its biggest market, the US, was flat, hurt by the recall of ranitidine, used to treat heartburn, and some disruption in the supply chain. Besides, price erosion affected some of its products, which, combined with lower volume, led to about a 13% decline in revenue growth quarter-on...