US market drag keeps Dr Reddys, Cipla under pressure despite strong product pipeline
News Source : The Times of India
News Summary
- Indian pharmaceutical firms experienced a challenging June quarter, marked by declining US business profits.
- Dr Reddy's and Cipla saw significant drops in their net profits and operating margins.
- However, their domestic businesses continued to perform well, offering a positive outlook.
- Obesity therapies and specialty product launches are expected to drive future growth for these companies.
- Analysts have consequently reduced earnings forecasts for the upcoming fiscal years.
- Top Trending Stocks: SBI, Axis Bank, HDFC Bank, Infosys, Wipro, NTPC.
ET Intelligence Group Initial trends in pharma results for the June quarter show pressure on the US business, with a doubledigit fall in net profit and contraction in operating profitability.
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