Poor contract manufacturing sales put a big hurt on Dr. Reddy's

A big slide in contract manufacturing undermined earnings for India's Dr. Reddy's Laboratories in the last quarter. Without explaining what led to the contraction, the drugmaker reported that manufacturing for outside clients was off 35% in the quarter, writes the Economic Times. The category makes up about 20% of its revenues. The company reported that sales in the U.S. were up 31% but revenue growth overall was just 4%. Story