Sign in

    Amey Chalke • JM Financial

    Amey Chalke's questions to Dr Reddy's Laboratories Ltd (RDY) leadership

    Amey Chalke's questions to Dr Reddy's Laboratories Ltd (RDY) leadership • Q1 2026

    Question

    Amey Chalke of JM Financial Ltd inquired about the performance of the US base business, the expected sales trajectory for Revlimid (lenalidomide), and the launch timeline for semaglutide in non-regulated markets.

    Answer

    CEO Erez Israeli explained that the US base business decline was primarily due to the timing of customer orders for products like Suboxone and that the full-year outlook is for flat to low single-digit growth. He indicated Revlimid sales would remain at similar levels for one more quarter before a significant drop in Q3. For semaglutide, Canada is the priority, with launches in other Rest of World (ROW) markets like India and Brazil anticipated after March of calendar year 2026.

    Ask Fintool Equity Research AI

    Amey Chalke's questions to Dr Reddy's Laboratories Ltd (RDY) leadership • Q4 2025

    Question

    Amey Chalke inquired about the level of U.S. price erosion in FY25, the performance of the U.S. business excluding Revlimid, the expected quarterly distribution of Revlimid sales in FY26, and whether generic semaglutide would require active marketing in underpenetrated markets.

    Answer

    CFO Mannam Venkatanarasimham and CEO Erez Israeli stated that U.S. price erosion was stable and at a low single-digit rate for the fiscal year, with the overall U.S. business growing nicely due to new launches and market share gains. The CEO indicated Revlimid sales would likely conclude a few months before the January 2026 cliff to manage inventory. He also stated that strong customer demand for semaglutide should preclude the need for active marketing, as affordability itself will drive adoption.

    Ask Fintool Equity Research AI

    Amey Chalke's questions to Dr Reddy's Laboratories Ltd (RDY) leadership • Q1 2025

    Question

    Amey Chalke of JM Financial sought a breakdown of the strong sequential growth in the US business between new launches and the base portfolio, and asked for the base business growth rate for the India segment, excluding the recently acquired vaccine portfolio.

    Answer

    CEO Erez Israeli clarified that the majority of the US growth came from the existing base business, not new launches, and he expects the North America business to continue growing throughout the year. He stated that the India business grew at a mid-single-digit rate excluding the vaccine acquisition but is expected to achieve double-digit growth for the full year.

    Ask Fintool Equity Research AI