The Hyderabad-headquartered Dr Reddy’s Laboratories has surged to the number two position in the list of Indian pharmaceutical manufacturers in its sales figures in the three months till 30th September respectively.
Sun Pharmaceutical Industries Limited, headquartered in Mumbai leads the list as India’s number one drug maker with Dr Reddy’s Laboratories Ltd on number two and Cipla Ltd reaching the third spot, in a first change in the order of the steadily growing India’s $50 billion pharmaceutical industry in over the past seven years.
Sun Pharmaceuticals continued its top position as the country’s largest drug manufacturer with sales of ₹10,809 crores for the second quarter that ended 30 September. Dr. Reddy’s which climbed to the second spot in the table, posted revenue of ₹6,331.8 crores in the second quarter, while the Mumbai-based Cipla reported revenue of ₹5,828.5 crores in the same period. Aurobindo Pharma Limited slipped in its revenue to ₹5,739.4 crores.
A well-known analyst from Axis Securities, Ankush Mahajan said, “Dr Reddy’s is currently investing in various businesses that could provide growth in the long term.”
