Dr. Reddy’s Drops as U.S. Business Seen Facing More PressureBy
First quarter results Tuesday saw net profit fall 80 percent
Company says big new products not likely until second half
Dr. Reddy’s Laboratories Ltd. plunged on concerns that competitive pressures in the U.S., which helped cut profit last quarter by nearly 80 percent, may linger for the balance of the year with few new drugs to win back the lost revenue.
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