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    500124   INE089A01023

DR. REDDY'S LABORATORIES LIMITED

(500124)
  Report
End-of-day quote. End-of-day quote Bombay Stock Exchange - 01/21
4498.5 INR   -2.06%
01/21Asian ADRs Move Sharply Lower in Friday Trading
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01/20Dozens of firms to make cheap version of Merck COVID pill for poorer nations
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01/18SUB : Grant of Stock Options - Form 6-K
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Indian firm Dr. Reddy's eyes Sputnik vaccine exports after domestic struggle

11/29/2021 | 05:44am EST

NEW DELHI, Nov 29 (Reuters) - India's Dr. Reddy's Laboratories is in talks with partners to export domestically made doses of Russia's COVID-19 vaccine, Sputnik, after New Delhi recently approved shipments of other shots, the firm said on Monday.

As the main Indian distributor of Sputnik, sold only on the private market, Dr. Reddy's has struggled https://www.reuters.com/world/india/floundering-private-sales-vaccine-india-deal-blow-russias-sputnik-v-2021-09-29 to compete with vaccines that the government distributes free.

It makes up barely 1 million of a national total of 1.2 billion administered doses, while the AstraZeneca vaccine produced by the Serum Institute of India accounts for nearly 90% of that figure, followed by home-grown Covaxin.

Now Dr Reddy's is focusing on the single-dose Sputnik Light, as a booster shot or standalone, instead of the two-dose Sputnik V, a spokesperson said.

"We are also in discussion with our partners to take Sputnik to other countries, mostly in the Asia-Pacific region and in certain countries of Africa, Latin America and Central America," the spokesperson added in an email.

Last month India resumed exports of COVID-19 vaccines for the first time since it banned shipments in April in a bid to focus on inoculating its own population after infections rocketed.

Dr. Reddy's said it failed to capitalise on India's vaccine demand in the middle of the year because supplies of the second dose of Sputnik V fell short.

Unlike most vaccines, its two doses are different and Indian drugmakers have found it difficult to produce the second one.

"The yields were low, they were not reproducible," the firm's co-chairman, G.V. Prasad, said in a recent interview. "Usual biological processes – they don't usually behave predictably."

Prasad said the company was trying to see if it could make the second Sputnik V dose commercially, in what would be its first vaccine production in more than two decades. (Reporting by Krishna N. Das; Editing by Clarence Fernandez)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ASTRAZENECA PLC -1.73% 8603 Delayed Quote.0.85%
DR. REDDY'S LABORATORIES LIMITED -2.06% 4498.5 End-of-day quote.-8.36%
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Analyst Recommendations on DR. REDDY'S LABORATORIES LIMITED
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Financials
Sales 2022 215 B 2 877 M 2 877 M
Net income 2022 29 510 M 396 M 396 M
Net cash 2022 17 146 M 230 M 230 M
P/E ratio 2022 25,5x
Yield 2022 0,64%
Capitalization 746 B 10 044 M 10 012 M
EV / Sales 2022 3,40x
EV / Sales 2023 2,94x
Nbr of Employees 22 739
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Dr. Reddy's Laboratories Limited Technical Analysis Chart | 500124 | INE089A01023 | MarketScreener
Technical analysis trends DR. REDDY'S LABORATORIES LIMITED
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Income Statement Evolution
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Mean consensus BUY
Number of Analysts 35
Last Close Price 4 498,50 INR
Average target price 5 449,94 INR
Spread / Average Target 21,2%
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Managers and Directors
Erez Israeli Chief Executive Officer
Parag Agarwal Chief Financial Officer
Satish Kallam Reddy Co-Chairman
Gunupati Venkateswara Prasad Co-Chairman & Managing Director
Mukesh Rathi Chief Digital & Information Officer
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