Dr Reddy's Q1 Profit Hit By Semaglutide Issue, Weaker U.S. Sales

Dr. Reddy's Laboratories reported a weak first quarter as net profit fell 69% year-on-year, hit by lower sales of its blockbuster cancer drug lenalidomide and a one-time provision related to a semaglutide API issue. Revenue declined 6%, although the company said its underlying base business continued to deliver double-digit growth across key markets. Business Today TV speaks to M V Ramana, Chief Executive Officer, Global Generics, Dr. Reddy's Laboratories, on the earnings, growth drivers, semaglutide strategy and the outlook ahead.