Sharekhan has given Buy recommendation for Dr. Reddy’s Laboratories with a target price of Rs. 5900 in its research report issued on Dec 24, 2021

Sharekhan’s research report on Dr. Reddy’s Laboratories

With onset of new Omicron variant of Covid 19, demand for DRL’s Covid drugs including Sputnik vaccines is likely to improve. USFDA’s EUA for Molnupiravir could also likely have a positive rub off as DRL holds rights for Molnupiravir for India and other LMIC’s. DRL is committed to resolving the USFDA observations for Duvvada formulations plant and is confident of submitting timely responses. Strong product pipeline, pick up in base business to drive US sales and enable DRL to tide over competitive pressures while new launches, expanding penetration and pick up in existing portfolio including Covid basket to drive India sales.


We re-iterate Buy recommendation on Dr Reddys Laboratories (DRL) with an unchanged PT of Rs 5900.

Leave a Reply

Your email address will not be published.