New Delhi, May 18 (IANS) India’s leading pharmaceuticals firm Dr. Reddy’s Laboratories Friday said it has earned a revenue of Rs.65 billion ($1.5 billion) during the 2006-07 financial year as against Rs.24 billion (nearly $590 million) in the previous year.
According to a company statement, the firm has achieved 168 percent growth on a year-to-year basis. It said while revenues from international markets increased to Rs.56 billion, revenues from India increased by 11 percent to Rs.9 billion.
Revenues excluding the contribution from authorised generics and acquisitions touched the Rs.36 billion mark in the recently concluded financial year as against Rs.23 billion in financial year 2005-06.
While revenues from authorised generic drugs contributed 24 percent and acquisitions contributed 21 percent respectively to total revenues in the just concluded fiscal.
Though the company registered growth in almost all foreign markets yet revenues from the UK market decreased to Rs.1.5 billion in 2006-07 as compared to Rs.1.7 billion in 2005-06.
The gross profit increased to Rs.30.9 billion during the period as against Rs.11.9 billion during 2005-06.
Established in 1984, Dr. Reddy’s Laboratories is an emerging global pharmaceutical company and produces finished dosage forms, active pharmaceutical ingredients and biotechnology products and markets them globally, with focus on India, the US, Europe and Russia.
The company conducts research in the areas of cancer, diabetes, cardiovascular inflammation and bacterial infection.