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MarketScreener Homepage  >  Equities  >  MUMBAI STOCK EXCHANGE  >  Dr. Reddy's Laboratories Limited    500124   INE089A01023

DR. REDDY'S LABORATORIES LIMITED

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Dr Reddy Laboratories : India trials of Russian Sputnik-V vaccine may end as early as March - Dr Reddy's

10/28/2020 | 10:00pm EST

BENGALURU, Oct 28 (Reuters) - Drugmaker Dr Reddy's Laboratories Ltd on Wednesday rolled out a preliminary timeline for the India trials of Russia's coronavirus vaccine candidate, with the late-stage expected to be completed by as early as March 2021.

Chief Executive Officer Erez Israeli said enrolment to the mid-stage trial of the Sputnik-V vaccine will start in the next few weeks and the trial was likely to end by December.

"(Phase 3 trial) can be over as fast as the end of March, but it could go into April or May," Israeli said on a post-earnings press briefing, adding the timeline will depend on the Phase 2 trial results and further approvals from authorities.

With 8 million COVID-19 infections and second only to the United States, India is pinning its hopes on a vaccine to stem the spread of the pandemic.

The ongoing festive season and a state assembly election are seen by healthcare experts as adding to the challenges in containing the outbreak.

The Hyderabad-based company had received renewed approval for late-stage clinical trials in India of the Sputnik-V vaccine earlier this month, after initially signing a deal with the Russian Direct Investment Fund in September.

The company expects to enrol 100 participants for the mid-stage trial and 1,500 people for the late-stage.

Shares of the company closed 2.9% lower at 4,951 rupees in a weak Mumbai market after Dr Reddy's reported https://bit.ly/31PkFO8 a 30.3% fall in consolidated net profit after tax from a year earlier. Net sales, however, jumped to 47.77 billion rupees from 39.98 billion rupees a year ago.

The drugmaker, which last week isolated all its data centre services as a preventive measure following a cyberattack, said it was a ransomware attack, but was yet to ascertain if any personal information was accessed.

($1 = 73.9430 Indian rupees)

(Reporting by Anuron Kumar Mitra in Bengaluru; Editing by Arun Koyyur)


© Reuters 2020
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Financials
Sales 2021 193 B 2 624 M 2 624 M
Net income 2021 27 597 M 376 M 376 M
Net cash 2021 10 068 M 137 M 137 M
P/E ratio 2021 29,2x
Yield 2021 0,53%
Capitalization 801 B 10 823 M 10 903 M
EV / Sales 2021 4,10x
EV / Sales 2022 3,57x
Nbr of Employees 21 650
Free-Float 68,2%
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Mean consensus OUTPERFORM
Number of Analysts 33
Average target price 5 522,33 INR
Last Close Price 4 829,60 INR
Spread / Highest target 32,5%
Spread / Average Target 14,3%
Spread / Lowest Target -17,2%
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Managers
NameTitle
Erez Israeli Chief Executive & Operating Officer
Saumen Chakraborty President, CFO & Global Head-IT
Satish Kallam Reddy Co-Chairman
Gunupati Venkateswara Prasad Co-Chairman & Managing Director
Kalpana Jaisingh Morparia Independent Non-Executive Director
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