Dr Reddy's Laboratories Q2 profit falls 17 per cent at Rs 574 cr

Dr Reddy's Laboratories Q2 profit falls 17 per cent at Rs 574 cr

India's second-largest drugmaker by revenue, reported a 17 per cent drop in its second-quarter profit, pushing its shares down nearly 3 per cent.

The company, whose formulations include drugs for cardiovascular disorders, oncology and pain management, posted a net profit of 5.74 billion rupees ($93.6 million) compared with 6.90 billion rupees a year earlier.

Dr Reddy's shares were down 2.5 per cent at Rs 3,004 at 0657 GMT in Mumbai, while the broader market was up 0.4 per cent.

 

Warburg Pincus invests Rs550 crore in Laurus Labs

Warburg Pincus invests Rs550 crore in Laurus Labs

Global private equity fund Warburg Pincus LLC has acquired a minority stake for Rs550 crore in Laurus Labs, a Visakhapatnam-based manufacturer and developer of drug ingredients, it said in a statement on Wednesday. This is the third transaction for Warburg Pincus in a month. In October, the fund had invested Rs1,200 crore in Kerala-based jewellery company Kalyan Jewellers and led a Rs185 crore investment in online auto classifieds platform CarTrade.com. Warburg Pincus will join Fidelity Growth Partners India and Boston-based Fidelity Biosciences, who led an earlier round of investment in Laurus in 2012, as an investor in the company, the firm said. Laurus is a manufacturer of drug ingredients for anti-retroviral (ARV), oncology, cardiovascular, anti-diabetic therapeutic segments. The firm also has a presence in nutraceuticals business. In addition to the drug ingredients business, the company has a contract manufacturing business that caters to several generic and innovation-driven, global pharmaceutical companies. The company started commercial operations in 2008. It recorded revenue of around Rs1,200 crore in the fiscal ended March 2014, the firm said.

 

Colon Cancer Surgery: Cancer Surgery Center Delhi India

Colon Cancer Surgery: Cancer Surgery Center Delhi India

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