Table of Contents
FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
Month of October 2012
Commission File Number – 1-15182
DR. REDDY’S LABORATORIES LIMITED
(Name of Registrant)
8-2-337, Road No. 3, Banjara Hills
Hyderabad, Andhra Pradesh 500 034, India
+91-40-4900-2900
(Address of Principal Executive Offices)
Indicate by check mark whether registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F x Form 40-F ¨
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ¨
Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ¨
Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant’s “home country”), or under the rules of the home country exchange on which the registrant’s securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant’s security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.
Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes ¨ No x
If “Yes” is marked, indicate below the file number assigned to registrant in connection with Rule 12g3-2(b):
Not applicable.
Table of Contents
2
Table of Contents
| Press Release |
| |||
| Dr. Reddy’s Laboratories Ltd. | ||||
| 8-2-337, Road No. 3 | ||||
| Banjara Hills, Hyderabad - 500 034 | ||||
| Andhra Pradesh, India | ||||
| Tel: 91-40-4900-2900 | ||||
| Fax: 91-40-4900-2999 | ||||
| www.drreddys.com | ||||
Dr. Reddy’s Custom Pharmaceutical Services (CPS) business expands its manufacturing operations in Mirfield, UK.
Hyderabad, India, October 08, 2012 The Custom Pharmaceutical Services (CPS) business of Dr. Reddy’s Laboratories Ltd. (NYSE: RDY) today announced expansion in the areas of activated mPEG manufacturing and in the development and manufacture of NCE (New Chemical Entities) APIs for use in pre-clinical through to commercial development at its manufacturing facility in Mirfield, UK.
The expansion puts Dr. Reddy’s at the forefront of activated mPEG manufacturing and will enable manufacture of its PEGtechTM range at commercial metric tonne scale quantities and beyond in a fully cGMP environment. Equipped with state-of-the-art DCS computer control systems, the plant operates with a very high level of control and has been designed with the latest manufacturing compliance standards in mind.
Commenting on the development, Dr. R. Ananthanarayanan, President-Pharmaceutical Services and Active Ingredients business, Dr. Reddy’s said, “This expansion builds on our commitment to expand operations in UK and provide a superior network of cGMP manufacturing to support our global customer base. PEGylation is one area where we felt the need for expanding our capabilities. We have invested in multiple technology areas and the expansion will add significant value in the areas of mPEGs and cGMP API manufacturing”.
Dr. Reddy’s has eight API manufacturing facilities (Six FDA-approved plants in India, One FDA-approved plant in Mexico and One FDA-approved plant in Mirfield, UK) worldwide which helps the CPS business to provide its customers with multiple site options.
Disclaimer
This press release includes forward-looking statements, as defined in the U.S. Private Securities Litigation Reform Act of 1995. We have based these forward-looking statements on our current expectations and projections about future events. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results to differ materially. Such factors include, but are not limited to, changes in local and global economic conditions, our ability to successfully implement our strategy, the market acceptance of and demand for our products, our growth and expansion, technological change and our exposure to market risks. By their nature, these expectations and projections are only estimates and could be materially different from actual results in the future.
About Dr. Reddy’s
Dr. Reddy’s Laboratories Ltd. (NYSE: RDY) is an integrated global pharmaceutical company, committed to providing affordable and innovative medicines for healthier lives. Through its three businesses—Pharmaceutical Services and Active Ingredients, Global Generics and Proprietary Products – Dr. Reddy’s offers a portfolio of products and services including APIs, custom pharmaceutical services, generics, biosimilars, differentiated formulations and NCEs. Therapeutic focus is on gastro-intestinal, cardiovascular, diabetology, oncology, pain management, anti-infective and pediatrics. Major markets include India, USA, Russia and CIS, Germany, UK, Venezuela, S. Africa, Romania, and New Zealand. For more information, log on to: www.drreddys.com
For more information, please contact:
| Investors and Financial Analysts: |
Business Development: | |
| Kedar Upadhye at kedaru@drreddys.com /+91-40-66834297 |
Mark Pearson at mpearson2@drreddys.com | |
| Saunak Savla at saunaks@drreddys.com /+91-40-49002135 |
Christian Jones at cjones@drreddys.com | |
| Milan Kalawadia (USA) at mkalawadia@drreddys.com /+1 908-203-4931 |
||
| Media: |
||
| S Rajan at rajans@drreddys.com / +91-40-49002445 |
||
3
Table of Contents
| Press Release |
| |||
| Dr. Reddy’s Laboratories Ltd. | ||||
| 8-2-337, Road No. 3 | ||||
| Banjara Hills, Hyderabad - 500 034 | ||||
| Andhra Pradesh, India | ||||
| Tel: 91-40-4900-2900 | ||||
| Fax: 91-40-4900-2999 | ||||
| www.drreddys.com | ||||
Dr. Reddy’s Q2 & H1 FY13 Financial Results
| Q2 FY13 Revenues at
(YoY growth of 27%)
Q2 FY13
EBITDA at
(YoY growth of 47%)
*Adjusted Q2
FY13 PAT at
(YoY growth of 77%) |
H1 FY13 Revenues at
(YoY growth of 28%)
H1 FY13 EBITDA at
(YoY growth of 35%)
**Adjusted H1 FY13 PAT at
(YoY growth of 56%) |
In this Quarterly Report, references to “$” or “dollars” or “U.S.$” or “U.S.
dollars” are to the legal currency of the United States and references to “
” or “rupees
Hyderabad, India, October 30, 2012: Dr. Reddy’s Laboratories Ltd. (NYSE: RDY) today announced its unaudited consolidated financial results for the quarter ended September 30, 2012 under International Financial Reporting Standards (IFRS).
Key Highlights (Q2 FY13)
| • | Consolidated revenues for Q2 FY13 at
|
| • | Revenues from the Global Generics segment for Q2 FY13 at
|
| • | Revenues from the PSAI segment for Q2 FY13 at
|
| • | EBITDA for Q2 FY13 at
|
| • | PAT for Q2 FY13 at
|
| • | *Adjusted PAT for Q2 FY13 at
|
| • | During the quarter, the company launched 18 new generic products, filed 11 new product registrations and filed 10 DMFs globally. |
| * | Adjusted for (a) impairment charges in Q2 FY13 (b) the benefit on reversal of provision for voluntary retirement scheme (‘VRS’)in Q2 FY 12 and (c) tax normalization on account of the annual effective tax rate and the aforementioned adjustments |
| ** | Adjusted for (a) impairment charges in Q2 FY13 (b) net charge for voluntary retirement scheme(‘VRS’) and (c) tax normalization on account of the annual effective tax rate and the aforementioned adjustments |
4
Table of Contents
| All figures in millions, except EPS |
All US dollar figures based on convenience translation rate of 1USD =
52.92 |
Dr. Reddy’s Laboratories Limited and Subsidiaries
Unaudited Consolidated Income Statement
| Particulars |
Q2 FY13 | Q2 FY12 | Growth | |||||||||||||||||||||||||
| ($) | (
) |
% | ($) | (
) |
% | % | ||||||||||||||||||||||
| Revenues |
544 | 28,809 | 100 | 429 | 22,678 | 100 | 27 | |||||||||||||||||||||
| Cost of revenues |
255 | 13,504 | 47 | 198 | 10,473 | 46 | 29 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
| Gross profit |
289 | 15,305 | 53 | 231 | 12,205 | 54 | 25 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
| Operating Expenses |
||||||||||||||||||||||||||||
| Selling, general and administrative expenses |
151 | 8,013 | 28 | 136 | 7,217 | 32 | 11 | |||||||||||||||||||||
| Research and development expenses |
33 | 1,759 | 6 | 28 | 1,459 | 6 | 21 | |||||||||||||||||||||
| Impairment loss on goodwill and intangible assets |
13 | 688 | 2 | |||||||||||||||||||||||||
| Other operating (income) / expense |
(8 | ) | (397 | ) | (1 | ) | (4 | ) | (216 | ) | (1 | ) | 85 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
| Results from operating activities |
99 | 5,242 | 18 | 71 | 3,745 | 17 | 40 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
| Net finance (income) / expense |
(7 | ) | (371 | ) | (1 | ) | 1 | 50 | 0 | (849 | ) | |||||||||||||||||
| Share of (profit) / loss of equity accounted investees |
(1 | ) | (28 | ) | (0 | ) | (0 | ) | (13 | ) | (0 | ) | 115 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
| Profit before income tax (‘PBT’) |
107 | 5,641 | 20 | 70 | 3,708 | 16 | 52 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
| Income tax expense |
30 | 1,567 | 5 | 12 | 630 | 3 | 148 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
| Profit for the period |
77 | 4,074 | 14 | 58 | 3,078 | 14 | 32 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
| Diluted EPS |
0.5 | 23.9 | 0.3 | 18.1 | 32 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Profit Computation:
| EBITDA Computation |
Q2 FY13 | Q2 FY12 | ||||||||||||||
| ($) | (
) |
($) | (
) |
|||||||||||||
| PBT |
107 | 5,641 | 70 | 3,708 | ||||||||||||
| Net Interest Expenses / (Income) |
(1 | ) | (32 | ) | 4 | 225 | ||||||||||
| Depreciation |
18 | 943 | 17 | 879 | ||||||||||||
| Amortization |
8 | 433 | 7 | 389 | ||||||||||||
| Impairment |
13 | 688 | ||||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Reported EBITDA |
145 | 7,673 | 98 | 5,201 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Adjustments of exceptional items: |
||||||||||||||||
| Part reversal of provision booked in Q1 FY12 for VRS |
(2 | ) | (94 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Adjusted EBITDA |
145 | 7,673 | 97 | 5,107 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| PAT Computation |
Q2 FY13 | Q2 FY12 | ||||||||||||||
| ($) | (
) |
($) | (
) |
|||||||||||||
| PAT |
77 | 4,074 | 58 | 3,078 | ||||||||||||
| Adjustments: |
||||||||||||||||
| Part reversal of provision booked in Q1 FY12 for VRS |
(2 | ) | (94 | ) | ||||||||||||
| Impairment loss on goodwill and intangible assets |
13 | 688 | ||||||||||||||
| Tax adjustment* |
3 | 175 | (4 | ) | (192 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Adjusted PAT |
93 | 4,937 | 53 | 2,792 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| * | Q2 FY13 normalized to the FY13 annual effective tax rate and Q2 FY12 normalized to the FY12 annual effective tax rate and the effect of the aforementioned adjustments |
5
Table of Contents
SEGMENTAL ANALYSIS
Global Generics
Revenues from Global Generics segment for Q2 FY13 at
20.1 billion, recorded YoY growth of 25% driven by key markets of North America, India and other emerging markets.
| • | Revenues from North America for Q2 FY13 at
|
| • | Growth is largely driven by key limited competition products of ziprasidone, tacrolimus, fondaparinux, clopidogrel, ramp-up in antibiotics portfolio and products from Shreveport facility. |
| • | 4 new products were launched during the quarter—atorvastatin, metoprolol, montelukast family and amoxicillin. |
| • | 30 products from the prescription portfolio are ranked among the Top 3 in their respective market shares. (Source: IMS Health Volumes, August 2012) |
| • | During the quarter, 4 ANDAs were filed. Cumulatively, 63 ANDAs are pending for approval with the USFDA of which 33 are Para IVs and 7 have ‘First To File’ status. |
| • | Revenues from Russia and Other CIS markets for Q2 FY13 at
|
| • | Revenues from Russia for Q2 FY13 are at
3.2 billion. |
| • | Revenues from Other CIS markets for Q2 FY13 at
0.62 billion recorded YoY growth of 31%. |
| • | Revenues from India for Q2 FY13 at
|
| • | Growth driven by volume increase across most key brands. |
| • | Biosimilars portfolio grew YoY by 24% during the quarter. |
| • | 4 new brands were launched during the quarter. |
| • | Revenues from Europe for Q2 FY13 at
|
| • | Revenues from Germany for Q2 FY13 at
1.1 billion declined YoY by 11%. |
Pharmaceutical Services and Active Ingredients (PSAI)
| • | Revenues from PSAI for Q2 FY13 at
|
| • | During the quarter, 10 DMFs were filed globally, including 2 in Europe. The cumulative number of DMF filings as of September 30, 2012 is 552. |
Income Statement Highlights:
| • | Gross profit margin at 53.1% in Q2 FY13 marginally dropped by 0.7% versus Q2 FY12. Gross profit margin for Global Generics and PSAI business segments are at 59.4% and 35.8% respectively. |
| • | Selling, General and Administration (SG&A) expenses including amortization at
|
| • | Research & development expenses for Q2 FY13 at
|
| • | During the quarter, a non-recurring and non-cash impairment charge of
|
| • | Net Finance income is at
|
| • | Net incremental forex gain of
187 million, primarily on account of reversal of the loss on time value of options recorded in Q1 FY13, due to the recent appreciation in the rupee. |
| • | Net interest income of
33 million in Q2 FY13 compared to net interest expense of
225 million in Q2 FY12 primarily on account of higher interest income from Fixed Deposit and mutual funds. |
| • | EBITDA for Q2 FY13 is
|
| • | Profit after Tax in Q2 FY13 at
|
| • | *Adjusted Profit after tax in Q2 FY13 at
|
| • | Diluted earnings per share in Q2 FY 13 are
|
| • | Capital expenditure for Q2 FY13 is
|
| * | Adjusted for (a) impairment charges in Q2 FY13 (b) the benefit on reversal of provision for voluntary retirement scheme (‘VRS’)in Q2 FY 12 and (c) tax normalization on account of the annual effective tax rate and the aforementioned adjustments |
6
Table of Contents
All US dollar figures based on convenience translation rate of 1USD =
52.92
Appendix 1: Key Balance Sheet Items
| (in millions) | ||||||||||||||||
| Particulars |
As on 30th Sep 12 | As on 30th Jun 12 | ||||||||||||||
| ($) | (
) |
($) | (
) |
|||||||||||||
| Cash and cash equivalents |
390 | 20,641 | 403 | 21,353 | ||||||||||||
| Trade receivables |
496 | 26,247 | 472 | 24,975 | ||||||||||||
| Inventories |
414 | 21,885 | 389 | 20,580 | ||||||||||||
| Property, plant and equipment |
667 | 35,300 | 653 | 34,550 | ||||||||||||
| Goodwill and Other Intangible assets |
233 | 12,297 | 257 | 13,597 | ||||||||||||
| Loans and borrowings (current & non current) |
660 | 34,901 | 670 | 35,430 | ||||||||||||
| Trade payables |
197 | 10,412 | 165 | 8,750 | ||||||||||||
| Equity |
1,197 | 63,354 | 1,127 | 59,664 | ||||||||||||
Appendix 2: Revenue Mix by Segment
| (in millions) | ||||||||||||||||||||||||||||
| Q2 FY13 | Q2 FY12 | Growth % |
||||||||||||||||||||||||||
| ($) | (
) |
% | ($) | (
) |
% | |||||||||||||||||||||||
| Global Generics |
380 | 20,103 | 70 | 305 | 16,136 | 71 | 25 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
| North America |
9,270 | 46 | 6,287 | 39 | 47 | |||||||||||||||||||||||
| Europe |
1,777 | 9 | 2,117 | 13 | (16 | ) | ||||||||||||||||||||||
| India |
3,879 | 19 | 3,459 | 21 | 12 | |||||||||||||||||||||||
| Russia & Other CIS |
3,841 | 19 | 3,380 | 21 | 14 | |||||||||||||||||||||||
| RoW |
1,336 | 7 | 893 | 6 | 50 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
| PSAI |
149 | 7,876 | 27 | 112 | 5,933 | 26 | 33 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
| North America |
1,353 | 17 | 1,068 | 18 | 27 | |||||||||||||||||||||||
| Europe |
2,906 | 37 | 2,303 | 39 | 26 | |||||||||||||||||||||||
| India |
1,148 | 15 | 752 | 13 | 53 | |||||||||||||||||||||||
| RoW |
2,469 | 31 | 1,810 | 31 | 36 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
| Proprietary Products & Others |
16 | 830 | 3 | 12 | 610 | 3 | 36 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
| Total |
544 | 28,809 | 100 | 429 | 22,678 | 100 | 27 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
| Appendix 3: Consolidated Income Statement |
| Particulars |
H1 FY13 | H1 FY12 | Growth % |
|||||||||||||||||||||||||
| ($) | (
) |
% | ($) | (
) |
% | |||||||||||||||||||||||
| Revenues |
1,024 | 54,215 | 100 | 802 | 42,461 | 100 | 28 | |||||||||||||||||||||
| Cost of revenues |
479 | 25,369 | 47 | 372 | 19,701 | 46 | 29 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
| Gross profit |
545 | 28,846 | 53 | 430 | 22,760 | 54 | 27 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
| Operating Expenses |
||||||||||||||||||||||||||||
| Selling, general and administrative expenses |
308 | 16,291 | 30 | 264 | 13,972 | 33 | 17 | |||||||||||||||||||||
| Research and development expenses |
63 | 3,322 | 6 | 50 | 2,656 | 6 | 25 | |||||||||||||||||||||
| Impairment loss on goodwill and intangible assets |
13 | 688 | 1 | |||||||||||||||||||||||||
| Other operating (income) / expense |
(12 | ) | (615 | ) | (1 | ) | (8 | ) | (402 | ) | (1 | ) | 54 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
| Results from operating activities |
173 | 9,160 | 17 | 123 | 6,534 | 15 | 40 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
| Net finance (income) / expense |
(3 | ) | (159 | ) | (0 | ) | 2 | 96 | 0 | (266 | ) | |||||||||||||||||
| Share of (profit) / loss of equity accounted investees |
(1 | ) | (47 | ) | (0 | ) | (0 | ) | (17 | ) | (0 | ) | 176 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
| Profit before income tax |
177 | 9,366 | 17 | 122 | 6,455 | 15 | 45 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
| Income tax expense |
37 | 1,932 | 4 | 14 | 750 | 2 | 157 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
| Profit for the period |
140 | 7,434 | 14 | 108 | 5,705 | 13 | 30 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
| Diluted EPS |
0.8 | 43.6 | 0.6 | 33.5 | 30 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
7
Table of Contents
| All figures in millions, except EPS |
All US dollar figures based on convenience translation rate of 1USD =
52.92 |
Appendix 4: Profit Computation:
| EBITDA Computation |
H1 FY13 | H1 FY12 | ||||||||||||||
| ($) | (
) |
($) | (
) |
|||||||||||||
| PBT |
177 | 9,366 | 122 | 6,455 | ||||||||||||
| Net Interest Expenses / (Income) |
0 | 12 | 8 | 446 | ||||||||||||
| Depreciation |
35 | 1,839 | 32 | 1,708 | ||||||||||||
| Amortization |
16 | 833 | 15 | 794 | ||||||||||||
| Impairment |
13 | 688 | ||||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Reported EBITDA |
241 | 12,738 | 178 | 9,403 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Adjustments of exceptional items: |
||||||||||||||||
| One-time charge of Voluntary Retirement Scheme |
1 | 42 | ||||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Adjusted EBITDA |
241 | 12,738 | 178 | 9,445 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| PAT Computation |
H1 FY13 | H1 FY12 | ||||||||||||||
| ($) | (
) |
($) | (
) |
|||||||||||||
| PAT |
140 | 7,434 | 108 | 5,705 | ||||||||||||
| Adjustments: |
||||||||||||||||
| One-time charge of Voluntary Retirement Scheme |
1 | 42 | ||||||||||||||
| Impairment loss on goodwill and intangible assets |
13 | 688 | ||||||||||||||
| Tax adjustment* |
(5 | ) | (280 | ) | (14 | ) | (729 | ) | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Adjusted PAT |
148 | 7,842 | 95 | 5,018 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| * | H1 FY13 normalized to the FY13 annual effective tax rate and H1 FY12 normalized to the FY12 annual effective tax rate and the effect of the aforementioned transactions |
About Dr. Reddy’s
Dr. Reddy’s Laboratories Ltd. (NYSE: RDY) is an integrated global pharmaceutical company, committed to providing affordable and innovative medicines for healthier lives. Through its three businesses Pharmaceutical Services and Active Ingredients, Global Generics and Proprietary Products – Dr. Reddy’s offers a portfolio of products and services including APIs, custom pharmaceutical services, generics, biosimilars, differentiated formulations and NCEs. Therapeutic focus is on gastro¬intestinal, cardiovascular, diabetology, oncology, pain management, anti¬infective and pediatrics. Major markets include India, USA, Russia and CIS, Germany, UK, Venezuela, S. Africa, Romania and New Zealand. For more information, log on to: www.drreddys.com
Disclaimer
This press release includes forward-looking statements, as defined in the U.S. Private Securities Litigation Reform Act of 1995. We have based these forward-looking statements on our current expectations and projections about future events. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results to differ materially. Such factors include, but are not limited to, changes in local and global economic conditions, our ability to successfully implement our strategy, the market acceptance of and demand for our products, our growth and expansion, technological change and our exposure to market risks. By their nature, these expectations and projections are only estimates and could be materially different from actual results in the future.
CONTACT INFORMATION
| Investors and Financial Analysts: | Media: | |
| Kedar Upadhye at kedaru@drreddys.com /+91-40-66834297 |
S Rajan at rajans@drreddys.com / +91-40-49002445 | |
| Saunak Savla at saunaks@drreddys.com /+91-40-49002135 |
||
| Milan Kalawadia (USA) at mkalawadia@drreddys.com /+1 908-203-4931 |
Note: All discussions in this release are based on unaudited consolidated IFRS financials.
8
Table of Contents
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| DR. REDDY’S LABORATORIES LIMITED | ||||||
| (Registrant) | ||||||
| Date: November 6, 2012 | By: | /s/ Sandeep Poddar | ||||
| Name: Sandeep Poddar | ||||||
| Title: Company Secretary | ||||||
9