| |NOVEMBER 20239Dr Reddy's Laboratories (DRL), India's third largest pharmaceutical company with a turnover of Rs. 24,600 plus, posted a 33 percent group net profit growth in the second quarter ended September 2023, with strong revenue growth in North America and Europe. DRL's consolidated net profit grew to Rs. 1482 crores from Rs. 1114 million in the corresponding quarter of the previous year. Its consolidated revenue grew 9 percent to Rs. 6,903 crore from Rs. 6332 crore in the last period. EPS of face value Rs. 5 each worked at Rs. 80.09 compared to Rs. 67,113.DRL's other income grew by Rs. 315 crore from Rs. 41 million euros in the corresponding quarter of the previous year. Other income for the quarter ended September 30, 2023 includes Rs. In product disputes, the company and its subsidiaries recognized 98 million in the UK. This deal is for the company and the global generic segment, as per pharmabiz.Commenting on the results, Chairman and MD, G V Prasad said, "We delivered strong second quarter results with highest ever sales and profits driven by market share growth and US generic business and strong growth in Europe. We will continue to strengthen our supply chain both organically and through business development to accelerate growth and create differentiation.Global sales of generic drugs grew by Rs. 6113 crore for the quarter ended September 2023. 5.601 million. Total sales in North America jump 13 percent to Rs. 3,170 crore from Rs. 2,800 crore and in Europe it grew by 26 percent to Rs. 529 crore from Rs. 420 million. Growth was driven by core portfolio growth rates, Mayne integration, and favorable exchange rate transition, partially offset by price erosion. Indian sales rose 3 percent to Rs. 1186 crore from Rs. 1.150 million. POZydus Lifesciences Limited and Sun Pharmaceutical Industries Limited (Sun Pharma) have entered into a license agreement for the joint marketing of a new drug for anemia associated with kidney disease.Desidustat is the first oral drug of its kind to treat anemia associated with chronic kidney disease (CKD) in India, the drug makers said.Under the terms of the agreement, Zydus has granted semi-exclusive rights to Sun Pharma to co-market the product in India under the brand name RYTSTAT. Zydus launched the drug under the brand name Oxemia in 2022 and continues to market it.Zydus receives an initial license fee and revenue based on the achievement of predefined milestones. "Desidustat, one of the critical treatment options for patients with chronic diseases, has greatly improved the quality of life of patients due to the ease of taking an oral pill instead of an injection. We are pleased to join hands with Sun Pharma to expand this new medicine, providing access to more patients," said a spokesperson for Zydus Lifesciences Ltd.Kirti Ganorkar, Chief Business Officer, India, Sun Pharma, said, "This partnership will enable better access to critical care, helping millions of CKD patients."Sun Pharmaceutical Industries Ltd. (Sun Pharma) is the fourth largest specialty generic drug company in the world with global revenue of over $5.1 billion. With the support of more than 40 manufacturing facilities, we provide high-quality, affordable medicines that are trusted by healthcare professionals and patients in more than 100 countries around the world. PODR REDDY'S LABS PROFIT SOARS BY 33 PERCENT IN Q2ZYDUS, SUN PHARMA CO-MARKET ORAL DRUG FOR KIDNEY DISEASESTOP STORIESChina NMPA Approves Drugs for Treatment Solid Tumours
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