Dr Reddy's Hyderabad Facility Passes USFDA Inspection

23 Sep 2024 , 11:43 AM

Dr Reddy’s Laboratories Ltd (DRL) announced that the US Food & Drug Administration (FDA) completed a routine Good Manufacturing Practice (GMP) inspection at its Integrated Product Development Organisation (IPDO) in Bachupally, Hyderabad.

The inspection, held from September 16 to 20, 2024, concluded without any observations, indicating full compliance with FDA standards.

In its July 27 financial results, DRL reported a 1% decline in net profit for the April to June 2024 quarter, amounting to ₹1,392 Crore, which was still 4% higher than market expectations.

DRL’s quarterly revenue exceeded projections by nearly 7%, reaching ₹7,672 Crore, a 14% increase compared to the same period last fiscal year.

The company’s EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortisation) rose by 1.1% year-on-year, totaling ₹2,159.9 Crore, surpassing poll expectations. Despite revenue growth, DRL’s EBITDA margin dipped by 80 basis points year-on-year, settling at 28.2% for the June-ended quarter.

This inspection success at Bachupally, combined with steady financial performance, reinforces Dr Reddy’s position as a key player in the pharmaceutical industry.