Company name: Dr. Reddy's
Location: Hyderabad, India
Annual sales (in millions): $834
Market share: 2.6%
CEO: GV Prasad
Anji Reddy established Dr. Reddy's Laboratories in 1984. The Indian drugmaker has grown ever since, going public in 1986 and entering international markets with exports of methyldopa the same year.
Dr. Reddy's reported a steeper-than-expected 14 percent drop in first-quarter consolidated net profit for Q1 FY2011. Consolidated revenues were at about $363 million versus $392 million versus the same period last year. In Q1 2010, Dr. Reddy benefited from exclusive U.S. sales of its generic version of GlaxoSmithKline's migraine drug Imitrex. Analyst Aarthisundari Jayakumar of Alchemy Share & Stock Brokers says the company couldn't offset the loss of exclusivity on sumatriptan sales from other generic drugs in the U.S., Dow Jones notes.
This week, Dr. Reddy's launched Cresp, the first generic darbepoetin alfa in the world, and the only darbepoetin alfa in India, according to a company release. Cresp has been approved in India for the treatment of anemia due to chronic kidney disease and anemia due to chemotherapy.