Dr. Reddy's Laboratories
said third-quarter earnings rose sharply from a year ago as the company benefited from strength in its pharmaceuticals ingredients business.
Excluding a gain, the India-based firm earned $7.9 million, or 10 cents a share, in the quarter, compared with $1 million, or 1 cent a share, a year ago. Revenue rose 25% to $131 million.
Revenue from active pharmaceutical ingredients segment jumped 50% to $46.7 million. Dr. Reddy's generic finished dosages sales slipped 14% to $18.4 million against $21.4 million in the same quarter a year ago. Global revenue from branded finished dosages increased by 33% to $31.1 million.
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