• Semaglutide API resolution: Dr. Reddy's recorded a write-off of approximately 240 crore due to an API impurity issue, but the company has identified the root cause and expects to resume supplies in quarter 3.
• Core business drivers: Double-digit base business growth across major geographies is offsetting moderating lenalidomide revenues, supported by US launches including nintedanib and bosutinib (with 180 days exclusivity on 400 mg).
• GLP-1 market strategy: The company is pursuing generic semaglutide opportunities in emerging markets where patents have expired, while building an ecosystem that includes nutritional supplements like Celuvida GLP Plus to counter muscle loss.
• India business momentum: India operations achieved approximately 17% growth across core therapy areas like oncology and dermatology, with future expansion driven by the Nestlé joint venture and shifting select brands from OTX to OTC.
• Biosimilar and asset pipeline: Innovative asset toripalimab generated about 100 crores within two years in India, while abatacept is positioned as the next major biosimilar launch across the US, Europe, and emerging markets.