Dr Reddy's sees $350M sales in 4th-qtr 2006

Indian generics giant Dr Reddy's Laboratories says that, in the three months ended December 31, 2006, sales totalled 15.4 billion rupees ($350.0 million), a big improvement on the 5.9 billion rupees earned in the like, year-ago period.

The firm's strong performance was helped by the launch of ondansetron, the first US-approved generic version of GlaxoSmithKline's Zofran, orally-disintegrating tablets and oral solution indicated to prevent nausea and vomiting associated with surgery, radiotherapy and cancer chemotherapy. Dr Reddy's 180-day market exclusivity on the drug finished at the end of the reporting period, although by this point it had captured 55% share of the total market and achieved sales of 223.0 million rupees.

During the period, the Hyderabad-based firm's gross profits increased to 6.7 billion rupees from 3.0 billion rupees. Revenues from authorized generics contributed 22% to total earnings. Dr Reddy's revenues from international markets increased 241% to 13.2 billion rupees, contributing 86% to total income versus 65% in the like, 2005 period.