pharma chief Dr Reddy’s LaboratoriesRussia and the CIS region, for which are considered important growth markets, are closely monitoring developments amid rising tensions between Ukraine and Russia.
“We are monitoring developments closely and preparing accordingly, and continue to do so,” said a company spokesperson, without sharing details, asking a question on the potential impact in Dr Reddy’s’ wake. asked for. Russia begins military operation against Ukraine.
Noting that Dr Reddy’s has a strong presence in the region for over three decades, the spokesperson said, “The first and foremost priority is to ensure the well being of our employees along with meeting patient needs and business continuity. Is.”
Feather sputnik vaccine Supply, Dr. Reddy’s said, “We have manufacturing capabilities in India. [of the vaccine] is not imported and therefore has no effect.” The third COVID-19 vaccine that will be approved by India, Sputnik is available in the country as part of a partnership between Russia’s Sovereign Wealth Fund RDIF and Dr Reddy’s. The initial dose of the two-dose vaccine was imported, now Sputnik is being made in partnership with a group of vaccine manufacturers in India.India also recently approved a single dose sputnik light vaccine,
For the December quarter, Dr Reddy’s reported a 5% year-on-year increase in revenue from Russia due to new product launches, favorable foreign exchange rates and increase in prices of some products, it said. This was partially offset by a decrease in sales volume at its core business. The company’s total revenue for the quarter stood at ₹5,320 crore.
Revenue from the market in other CIS countries and Romania for the quarter was ₹240 crore, an 11% year-on-year growth driven by the launch of new products, partially offset by lower volumes in the base business.
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