Dr. Reddy's points to lower sales of generics in Q2 results
HYDERABAD, India Dr. Reddy’s Laboratories suffered many setbacks during the second quarter which ended on Sept. 30, mainly due to lower sales of generic products and adverse exchange rates, according to pharmabiz.com.
The company’s revenues declined by 37 percent from $504 million in the second quarter last year as compared to $319 million this past quarter.
The revenues from generics declined sharply from more than $300 million to a little over $11 million, when comparing the second quarter of last year to this year. The revenues in North America differed by almost $18 million over the same period.