Dr Reddy net profits increase 55% in fiscal 2001

Following the firm's decision to license out its antidiabetes agent DRF4158 to Novartis in a deal potentially worth $55 million (see page 4), Dr Reddy's Laboratories of India has posted a 25% rise in turnover for fiscal 2001 to 8.99 billion rupees ($191.4 million). Net profits climbed 54% to 1.34 billion rupees.

Dr Reddy said that exports were 4.46 billion rupees for the year ended March 2001, almost half the company's total turnover. Sales of finished dosages grew 32% to 4.08 billion rupees, while exports of the latter rose 61% to 1.27 billion rupees. Bulk actives increased 12% to 4.32 billion rupees.