Dr. Reddy’s announces unaudited Q1 results

HYDERABAD, India Dr. Reddy’s Laboratories Ltd. announced its unaudited financial results for the first quarter ended June 30, under International Financial Reporting Standards.

Overall revenues at Rs. 18.2 billion ($381 million) in the first quarter of fiscal year 2010, up 21% from the year-ago period. The growth was largely driven by sumatriptan and by the key markets of North America and India. Excluding revenues from sumatriptan, the growth is at 7%.

EBITDA at Rs. 4.4 billion ($91 million) in first quarter 2010, compared with Rs. 2.3 billion ($48 million), representing a growth of 90%.

Meanwhile, revenues from the global generics business was approximately Rs. 13.0 billion ($273 million), comapred with Rs. 10.3 billion ($215 million) at the same time last year.

During the quarter, the company launched 24 new generic products and filed 22 new generic product registrations.