HYDERABAD (Reuters) -Indian generic drugs maker Dr Reddy’s Laboratories reported a fourth-quarter profit that beat analysts’ expectations on Friday, helped by new drug launches in oncology and other chronic therapy areas. The company’s consolidated net profit increased to 15.93 billion rupees (nearly $187 million) in the quarter ended March 31, beating analysts’ estimate of 14.91 billion rupees, as per data compiled by LSEG.
Total revenue increased 20% to 82.11 billion rupees.
Revenue from North America rose 9% to 35.59 billion rupees, while revenue in Europe more than doubled to 12.76 billion rupees.
Europe sales, the company said, were driven by strong demand for nicotine replacement therapy, which Dr Reddy’s bought from British drugmaker Haleon last year for $633 million.
India’s drugmakers that derive significant revenue from North America through their cheaper version of innovator drugs are on tenterhooks about U.S. tariffs on pharma imports.
The Trump administration, which initially spared the sector from any kind of duties, is likely to make an announcement on tariffs in the coming weeks.
Rival Cipla is set to report fourth-quarter results next week. ($1 = 85.3790 Indian rupees)
(Reporting by Rishika Sadam and Kashish Tandon; Editing by Savio D’Souza)
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