Dr Reddy's: Progress in Covid vaccine trials to boost firm's growth outlook

Good momentum in US and domestic sales, along with Covid-19 treatment portfolio is already driving analysts to upgrade earnings estimates

Dr Reddy’s Laboratories (DRL) continues to be in the limelight on product-specific news, further improving its business outlook. The settlement of a patent dispute for a large drug to be launched in the US had already lifted sentiment, pushing the stock to fresh highs in September. 

DRL received attention recently for having reapplied to conduct Phase 3 human clinical trials for the Covid-19 vaccine candidate Sputnik V. Any success will add to the company’s already strong growth prospects. Therefore, analysts see more gains ahead, even though the stock has already outperformed the Nifty Pharma and Nifty indices in the past few