The company is fighting what for now appears to be a losing battle for sales growth in the US. Dr Reddy’s North America generics business is important to both sales and profitability. Emerging market sales growth was hit by the stoppage of sales in Venezuela. For the June quarter, sales growth was flat over a year ago and declined by 8.3% sequentially. After the March quarter results, the company had said sales growth could pick up in the second half of FY17 due to new launches.

Source: Mint July 26, 2016 21:45 UTC