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In US, competition for Dr Reddy's intensifies

Resolution of US regulatory issues remains the biggest trigger for the stock

Dr Reddy's buys 8 drugs from Teva, Allergan in $350 mn deal
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Ujjval Jauhari Mumbai
Dr Reddy's performance for the December 2016 quarter (Q3) came ahead of estimates. At first sight, some sequential improvements may excite investors. Net profit at Rs 470 crore was way ahead of Rs 377 crore indicated by Bloomberg consensus estimate. Operating profit at Rs 879 crore beat estimate of Rs 707 crore, even as revenue at Rs 3,707 crore came in slightly lower than expectations of Rs 3,726 crore. Profits exceeding estimates need to be seen in the light of the September quarter, which had spawned subdued expectations. Also, the higher-than-expected operating profit got lift from new launches and cost

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