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    Damayanti Kerai

    Research Analyst at HSBC

    Damayanti Kerai is an equity analyst at HSBC specializing in coverage of major Indian pharmaceutical companies, including Dr Reddy's Laboratories. Her performance track record includes actionable rating changes such as upgrading Dr Reddy's Laboratories with projected price targets and notable return rates, exemplified by a 12.44% return on a recent rating. Kerai began her analyst tenure at HSBC in October 2010 and remained active through at least March 2015, with continued industry engagement evident from recent analyst actions in 2025. While her FINRA registration or specific securities licenses are not publicly documented, her expertise and decisions have been recognized across influential financial platforms.

    Damayanti Kerai's questions to DR REDDYS LABORATORIES (RDY) leadership

    Damayanti Kerai's questions to DR REDDYS LABORATORIES (RDY) leadership • Q1 2026

    Question

    Damayanti Kerai of HSBC questioned the sales outlook for lenalidomide in the upcoming quarter, potential pricing pressure, and the readiness and sufficiency of semaglutide manufacturing capacity.

    Answer

    CEO Erez Israeli confirmed that lenalidomide sales in Q2 should be of a similar magnitude to Q1, with most of the volume already booked, mitigating the risk of further significant price erosion. Regarding semaglutide, he clarified that initial launches will use a partner's capacity, not the Vizag facility, which comes online in FY28. He expressed confidence that the planned capacity of approximately 10 million pens for calendar '26 and 12 million for FY27 would be sufficient to gain meaningful market share.

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    Damayanti Kerai's questions to DR REDDYS LABORATORIES (RDY) leadership • Q1 2025

    Question

    Damayanti Kerai from HSBC inquired about the sustainable growth rate for the India business post-Sanofi vaccine integration, the progress of the Nestle JV, and the level of spending and future marketing strategy for the biologics portfolio.

    Answer

    CEO Erez Israeli projected double-digit growth for the India business for the full year, even excluding acquisitions. He announced the Nestle JV is progressing well and is expected to go live around August 1. Regarding biologics, he noted that biosimilars account for about 20% of R&D and 10% of CapEx. He confirmed that upcoming products like abatacept will be marketed by Dr. Reddy's directly in the US.

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