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Top 10 Emerging Markets Stocks in 2010


8. Dr. Reddy's Laboratories (RDY) is an integrated pharmaceutical company focusing on global generics, pharmaceutical services, and active ingredients and proprietary products.

On a year-to-date basis, the company soared 52.5%, touching 52-week highs in December. In comparison, counterparts GlaxoSmithKline (GSK), Teva Pharmaceutical Industries (TEVA) and Pfizer (PFE) declined 7.4%, 7.9% and 3.3%, respectively. Industry giant Novartis (NVS) gained 8.6%.

The company recently signed a licensing, technology transfer, manufacturing and marketing agreement with R-Pharm of Russia, working on a profit-sharing model. During October, the company announced expansion of its products portfolio in the Russian and Ukraine markets through in-licensing deals with companies like Cipla and Vitabiotics. During early 2010, rumors that GSK was planning to acquire a 5% stake in Reddy's for almost $150 million-$160 million were disregarded as unlikely to happen. Furthermore, Dr. Reddy's also denied that it is seeking to sell its Indian formulations business to Pfizer.

During the first half of 2011, Dr. Reddy's is likely to close its deal with GlaxoSmithKline and complete the transfer of GSK's U.S. oral penicillin facility and product portfolio ownership rights. The transfer will likely add $40 million to the company's top line in 2011-2012.

The company is looking for partnerships in order to enter the Japanese generic drugs markets. Japan offers vast opportunities, as the government is keen to make health care more affordable.

Dr. Reddy's is forecasting sales of $1 billion in the U.S. by 2012-2013, up 42% from 2010 levels. The company aims to record $3 billion in revenue by 2013. Besides planning a single launch every year in the low competition/patent challenge segments, Dr. Reddy's has a pipeline of 12 first-to-file opportunities that provide six months exclusivity at launch. The market size of these products is valued at $9 billion.

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