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Dr. Reddy's (RDY) Presence in Generics Market Remains Strong
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We issued an updated research report on Dr. Reddy’s Laboratories Ltd. (RDY - Free Report) on Sep 18.
Dr. Reddy’s enjoys a strong position in the generics market. As of Jun 30, 2018, Dr. Reddy’s had 112 generic filings (109 abbreviated New Drug Applications [ANDAs] and three new drug applications) pending the FDA approval. Of the 109 ANDAs, 61 were Para IV filings and 30 have first-to-file status.
The company’s first-cycle NDA approval of high potency topical steroid, Impoyz, for the treatment of moderate to severe plaque psoriasis in patients 18 years of age or older is a significant milestone in the commercialization of its proprietary products pipeline. New product launches, especially complex generics, should help drive the generics business at regular intervals.
Dr. Reddy’s is working with Merck Serono to develop and commercialize a portfolio of biosimilar compounds in oncology, primarily focused on MAbs. The company has already expanded its biosimilars facility in India to meet growing demand in emerging markets. In July 2018, Dr. Reddy’s, launched Hervycta (Trastuzumab), a biosimilar of Roche’s (RHHBY - Free Report) Herceptin in India. The drug is indicated for the treatment of HER2-positive cancers (early breast cancer, metastatic breast cancer and metastatic gastric cancer).
The company is undertaking some strategic measures to combat the ongoing challenges. It plans to modernize some of its infrastructure, systematically implement its new quality management system, and automate some of the critical manufacturing and quality related processes.
However, price erosion in the North America generics market still persists. The European market is also witnessing a decline due to higher price erosion in some of the key molecules.
Shares of the company have increased 3.3% in the last three months compared with the industry’s growth of 1.2%.
Gilead’s earnings per share estimates have increased from $6.15 to $6.58 for 2018 and from $6.33 to $6.48 for 2019 over the past 60 days. The company delivered a positive earnings surprise in three of the trailing four quarters with an average beat of 6.43%. The stock has rallied 2.8% so far this year.
Ligand’s earnings per share estimates have moved up from $5.64 to $6.33 for 2018 and from $5.59 to $5.74 for 2019 in the last 30 days. The company delivered a positive earnings surprise in all of the trailing four quarters with an average beat of 59.54%. Share price of the company has increased 94.1% year to date.
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6%, and +67.1%.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
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Dr. Reddy's (RDY) Presence in Generics Market Remains Strong
We issued an updated research report on Dr. Reddy’s Laboratories Ltd. (RDY - Free Report) on Sep 18.
Dr. Reddy’s enjoys a strong position in the generics market. As of Jun 30, 2018, Dr. Reddy’s had 112 generic filings (109 abbreviated New Drug Applications [ANDAs] and three new drug applications) pending the FDA approval. Of the 109 ANDAs, 61 were Para IV filings and 30 have first-to-file status.
The company’s first-cycle NDA approval of high potency topical steroid, Impoyz, for the treatment of moderate to severe plaque psoriasis in patients 18 years of age or older is a significant milestone in the commercialization of its proprietary products pipeline. New product launches, especially complex generics, should help drive the generics business at regular intervals.
Dr. Reddy’s is working with Merck Serono to develop and commercialize a portfolio of biosimilar compounds in oncology, primarily focused on MAbs. The company has already expanded its biosimilars facility in India to meet growing demand in emerging markets. In July 2018, Dr. Reddy’s, launched Hervycta (Trastuzumab), a biosimilar of Roche’s (RHHBY - Free Report) Herceptin in India. The drug is indicated for the treatment of HER2-positive cancers (early breast cancer, metastatic breast cancer and metastatic gastric cancer).
The company is undertaking some strategic measures to combat the ongoing challenges. It plans to modernize some of its infrastructure, systematically implement its new quality management system, and automate some of the critical manufacturing and quality related processes.
However, price erosion in the North America generics market still persists. The European market is also witnessing a decline due to higher price erosion in some of the key molecules.
Shares of the company have increased 3.3% in the last three months compared with the industry’s growth of 1.2%.
Dr. Reddy's Laboratories Ltd Price
Dr. Reddy's Laboratories Ltd Price | Dr. Reddy's Laboratories Ltd Quote
Zacks Rank & Other Stocks to Consider
Dr. Reddy’s is a Zacks Rank #1 (Strong Buy) stock.
A few other top-ranked stocks in the biotech sector are Gilead Sciences Inc. (GILD - Free Report) and Ligand Pharmaceuticals Incorporated (LGND - Free Report) , both carrying a Zacks Rank #1.You can see the complete list of today’s Zacks #1 Rank stocks here.
Gilead’s earnings per share estimates have increased from $6.15 to $6.58 for 2018 and from $6.33 to $6.48 for 2019 over the past 60 days. The company delivered a positive earnings surprise in three of the trailing four quarters with an average beat of 6.43%. The stock has rallied 2.8% so far this year.
Ligand’s earnings per share estimates have moved up from $5.64 to $6.33 for 2018 and from $5.59 to $5.74 for 2019 in the last 30 days. The company delivered a positive earnings surprise in all of the trailing four quarters with an average beat of 59.54%. Share price of the company has increased 94.1% year to date.
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6%, and +67.1%.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
See Them Free>>