Dr Reddy's may underperform over concerns about launch of complex products

For rerating, it needs sustained growth in India, recovery in US

In a weak market, the stock of pharma major Dr Reddy’s Laboratories was up a tad on approval by US Food and Drug Administration for VeraRing. The product is the generic version of Merck’s female contraceptive, NuvaRing. The approval is considered a positive as it has come after considerable delay. The overall market size for NuvaRing in the US, according to ICICI Securities is $800 million and offers a substantial peak sales opportunity for Dr Reddy’s. The company is the fourth generic entrant for the product in the US market, its single largest accounting for about 40 per cent of