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    Abdulkader Puranwala • ICICI Securities

    Abdulkader Puranwala's questions to Dr Reddy's Laboratories Ltd (RDY) leadership

    Abdulkader Puranwala's questions to Dr Reddy's Laboratories Ltd (RDY) leadership • Q4 2025

    Question

    Abdulkader Puranwala inquired about the expected growth drivers for the India business in the upcoming year, particularly beyond the vaccine portfolio, and asked for the company's perspective on the increased intensity of surprise FDA inspections in India.

    Answer

    CEO Erez Israeli projected high double-digit growth for the India business in FY26, driven primarily by inorganic growth through in-licensing and product acquisitions, alongside growth in legacy brands and mitigation plans for underperforming areas like cardiovascular and GI. Regarding inspections, he stated that unannounced FDA visits are not new and that Dr. Reddy's facilities are always prepared, citing recent successful unannounced inspections.

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    Abdulkader Puranwala's questions to Dr Reddy's Laboratories Ltd (RDY) leadership • Q1 2025

    Question

    Abdulkader Puranwala from ICICI Securities requested details on the licensed Sanofi vaccine business, including its growth profile, necessary future investments, and whether personnel were transferred as part of the deal.

    Answer

    CEO Erez Israeli described the Sanofi vaccine portfolio as an "anchor" acquisition, intended to build capabilities and a platform for future product additions in the segment through further licensing. He confirmed that the salespeople from Sanofi were also transferred to Dr. Reddy's as part of the agreement.

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