Fin Cascade
Get Android appGet iOS app

Prices as of 8 Oct 2026 close · Not investment advice

Dr Reddy's Laboratories

NSE: DRREDDYPharmaceuticals

Share price

₹1,180.00

-1.98% close of 8 Oct 2026

Market cap ₹99,120 CrP/E 30.8

Business score

How strong the business is, in one number. The parts behind it are in Pro.

55

out of 100 · worked out 8 Oct 2026

Your ratios

The numbers you want to see first. Tap Edit to change them.

Market cap

₹99,120 Cr

P/E ratio

30.8

P/B ratio

2.6

ROCE

13.0%

ROE

11.2%

Dividend yield

0.7%

Price & valuation chart

How the share price and its valuation have moved. Hover over the chart to see any day. Prices as of the last close.

Prices as of 8 Oct 2026 close52-week high ₹1,375.7052-week low ₹1,135.60

Answers

Simple answers to the questions investors ask most, from the company's own numbers.

How fast it has been growing

Sales fell 0.9% over the past year. Meanwhile what it keeps of every 100 rupees of sales slipped from 18.1% to 15.0% over the last four years.

Whether it grew faster than its sector

It grew 10.6% a year against a sector median of 13.1% — 2.5 percentage points slower.

Room to re-rate, or risk of de-rating

At 30.8× earnings against a market that pays 23.9× across 2199 companies we can price. Its own industry sits at 78.7×, across 5 companies. It is against its own five-year median of 20.1×, the 88th percentile of its own range.

Whether growth justifies the valuation

Its earnings are falling, so growth cannot justify the price.

Profit growthPrice per ₹1 profitPer 1% growth
Dr Reddy's Laboratories — this one-4%/yr30.8×—
Sun Pharmaceutical13%/yr33.4×₹2.6
Divi's Laboratories13%/yr83.3×₹6.4
Torrent Pharmaceuticals22%/yr78.7×₹3.6
Zydus Lifesciences32%/yr23.1×₹0.72
Laurus Labs Limited4%/yr98.6×₹24.7

Compared with companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

How it compares with its peers

Against companies the exchange files under the same label (Pharmaceuticals), it ranks 74 of 130 on returns, 70 of 127 on growth, 66 of 130 on margin. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

What makes it hard to beat — and is that still true?

No durable advantage shows in the numbers: it earns 13% on capital, ahead of 43% of companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

Whether its growth pays for itself

Yes — Over the last five years it made ₹23559 crore of cash from the business, spent ₹13073 crore on plant and equipment, and returned ₹584 crore to lenders and shareholders. And the profit is real: of every 100 rupees it reported over 12 years, about 123 arrived as cash (before interest, which is why it can exceed the profit). Its cash comes back more slowly than it used to: it went from being waiting 61 days for its cash to waiting 68 days for its cash.

Profit reality check

Is the profit real cash? Simple checks on the accounts. Facts only, not advice.

8 of 9 checks clear · 89%

Latest result · Q1 FY27

What the last results showed. Whether management kept its word is in Pro.

Profit fell 69% from a year earlier to Rs 436 crore as sales slipped 6%

Announced 22 Jul 2026 · Consolidated · Unaudited

Revenue

₹8,100 Cr

Revenue vs last year

-5.5%

Revenue vs last quarter

+7.3%

Net profit

₹436 Cr

Profit vs last year

-69.1%

Profit vs last quarter

+97.1%

Net margin

5.4%

EPS

₹5.33

Earnings call transcript · 22 Jul 2026

Checklist before you investPRO

Points for and against, in one list.

Key numbers & peers

The main numbers grouped by topic, and how the company compares with similar ones.

Price

Market cap
₹99,120 Cr
Prev close
₹1,180.00
52w High
₹1,415
52w Low
₹1,101
Enterprise value
₹1.03L Cr
Beta
0.6
Price CAGR 1y
-2.0%
Price CAGR 3y
3.0%
Price CAGR 5y
4.0%
Price CAGR 10y
7.0%

Ratios

Return on assets
7.3%
PEG ratio
-7.6
P/E ratio
30.8
P/B ratio
2.6
EV / EBITDA
16.5
Industry P/E
38.0
ROCE
13.0%
ROCE 5y average
20.8%
ROE
11.2%
Debt / Equity
0.2
Interest coverage
15.4
Dividend yield
0.7%
ROE 3y average
16.0%
ROE last year
11.0%

Annual P&L

Annual revenue
₹33,700 Cr
Annual profit
₹4,158 Cr
Operating margin
19.0%
Net profit margin
12.3%
EBITDA margin
19.2%
Sales growth 3y
11.0%
Sales growth 5y
12.1%
Profit growth 3y
-4.0%
Profit growth 5y
15.0%
EPS
₹50.3
Sales growth TTM
-1.0%
Profit growth TTM
-43.0%
Dividend payout
16.0%

Quarter P&L

Sales latest quarter
₹8,100 Cr
Profit latest quarter
₹436 Cr
YoY quarterly sales growth
-5.5%
YoY quarterly profit growth
-69.1%
OPM latest quarter
10.6%

Balance Sheet

Book Value
₹451
Face Value
₹1.0
Total debt
₹7,734 Cr
Total cash
₹3,349 Cr
Borrowings
₹7,734 Cr
Reserves / Equity
450.1

Cash Flow

Operating cash flow
₹5,674 Cr
Free cash flow
₹2,004 Cr
FCF yield
1.6%
Net cash flow
₹78 Cr

Shareholding

Promoter holding
26.6%
FII holding
20.7%
DII holding
31.8%
Public holding
20.8%

Peer comparison

CompanyPrice ₹P/EMkt cap ₹ CrDiv yield %Profit qtr ₹ CrProfit var %Sales qtr ₹ CrSales var %ROCE %
Sun Pharma.Inds.1,781.0033.84,27,3220.902,901.26.015,299.910.520.5
Divi's Lab.9,588.0085.42,54,5310.31902.065.53,080.027.822.0
Torrent Pharma.4,716.2080.41,79,3890.81566.05.84,921.054.915.2
Zydus Lifesci.1,153.0023.61,15,0120.09990.2-35.18,017.022.021.1
Laurus Labs2,052.80101.41,10,9150.10362.1125.52,026.329.117.8
Cipla1,327.2030.01,07,2210.98785.6-39.27,119.32.315.5
Mankind Pharma2,500.0048.41,03,2610.04574.129.64,030.612.913.5
Dr Reddy's Labs1,203.8031.21,00,4790.66435.6-68.78,099.8-5.513.0
Median417.9034.52,2080.0713.529.5164.018.415.0

Competes with: Aarey Drugs & Pharmaceuticals Limited, Aarti Drugs Limited, Aarti Pharmalabs Limited, Abbott India Limited, Acutaas Chemicals Limited, Ajanta Pharma Limited, Akums Drugs and Pharmaceuticals Limited, Albert David Limited, Alembic Pharmaceuticals Limited, Alivus Life Sciences Limited, Alkem Laboratories Limited, Alpa Laboratories Limited, Amanta Healthcare Limited, Ambalal Sarabhai Enterprises Limited, Amrutanjan Health Care Limited, Anlon Healthcare Limited, Anuh Pharma Limited, AstraZeneca Pharma India Limited, Aurobindo Pharma, BALAXI PHARMACEUTICALS LIMITED, Bafna Pharmaceuticals Limited, Bajaj Healthcare Limited, Bal Pharma Limited, Beta Drugs Limited, Bharat Parenterals Limited, Biocon, Biofil Chemicals & Pharmaceuticals Limited, Bliss GVS Pharma Limited, Blue Jet Healthcare Limited, Brooks Laboratories Limited, CORONA Remedies Limited, Caplin Point Laboratories Limited, Cipla, Cohance Lifesciences Limited, Concord Biotech Limited, Dishman Carbogen Amcis Limited, Divi's Laboratories, Emcure Pharmaceuticals Limited, Eris Lifesciences Limited, FDC Limited, Fermenta Biotech Limited, Fredun Pharmaceuticals Limited, Gland Pharma Limited, GlaxoSmithKline Pharmaceuticals Limited, Glenmark Pharmaceuticals Limited, Granules India Limited, Gufic Biosciences Limited, Gujarat Themis Biosyn Limited, HALEOS LABS LIMITED, Hester Biosciences Limited, Hikal Limited, IOL Chemicals and Pharmaceuticals Limited, IPCA Laboratories Limited, Ind-Swift Laboratories Limited, Indoco Remedies Limited, Innova Captab Limited, JB Chemicals & Pharmaceuticals Limited, Jagsonpal Pharmaceuticals Limited, Jeena Sikho Lifecare Limited, Jenburkt Pharmaceuticals Limited, Jubilant Pharmova Limited, Kilitch Drugs (India) Limited, Kopran Limited, Krebs Biochemicals and Industries Limited, Kwality Pharmaceuticals Limited, Lasa Supergenerics Limited, Laurus Labs Limited, Lincoln Pharmaceuticals Limited, Lupin, Lyka Labs Limited, Makers Laboratories Limited, Mangalam Drugs And Organics Limited, Mankind Pharma Limited, Marksans Pharma Limited, Medi Caps Limited, Medicamen Biotech Limited, Medico Remedies Limited, Morepen Laboratories Limited, NGL Fine-Chem Limited, Natco Pharma Limited, Natural Capsules Limited, Nectar Lifesciences Limited, Neuland Laboratories Limited, Novartis India Limited, ORTIN GLOBAL LIMITED, Onesource Specialty Pharma Limited, Orchid Pharma Limited, Panacea Biotec Limited, Par Drugs And Chemicals Limited, Parnax Lab Limited, Pfizer Limited, Piramal Pharma Limited, Procter & Gamble Health Limited, RPG Life Sciences Limited, Rubicon Research Limited, SMS Pharmaceuticals Limited, Sai Life Sciences Limited, Sai Parenterals Limited, Sakar Healthcare Limited, Sanofi Consumer Healthcare India Limited, Sanofi India Limited, Senores Pharmaceuticals Limited, Shilpa Medicare Limited, Shree Ganesh Remedies Limited, Shukra Pharmaceuticals Limited, Sigachi Industries Limited, Solara Active Pharma Sciences Limited, Strides Pharma Science Limited, Sudeep Pharma Limited, Sun Pharma Advanced Research Company Limited, Sun Pharmaceutical, Sunil Healthcare Limited, Supriya Lifescience Limited, Symbiotec Pharmalab Limited, Syncom Formulations (India) Limited, Themis Medicare Limited, Torrent Pharmaceuticals, Unichem Laboratories Limited, Vaishali Pharma Limited, Valiant Laboratories Limited, Venus Remedies Limited, Vineet Laboratories Limited, Vivimed Labs Limited, Viyash Scientific Limited, Wanbury Limited, Windlas Biotech Limited, Wockhardt Limited, Zim Laboratories Limited, Zota Health Care LImited, Zydus Lifesciences

Quarterly results

Sales and profit for each of the last 13 quarters. Newest on the right. ₹ crore.

Consolidated · to 30 Jun 2026
Line itemJun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales6,7586,9037,2377,1147,6968,0388,3818,5288,5728,8288,7537,5468,100
Expenses4,6964,8945,2145,2835,5665,9626,1086,5306,3986,8186,8667,1647,240
Material Cost1,7172,0361,4411,8261,1991,654
Change in Inventories6-444-64-272356-243
Purchases of Stock-in-Trade1,1281,2161,7461,5421,6581,974
Employee Cost1,4011,5041,4521,5891,4471,652
Other Expenses2,2802,0882,2432,1822,5042,203
Operating Profit2,0622,0082,0231,8312,1302,0762,2731,9982,1742,0101,888382860
OPM %31292826282627232523225.0711
Other Income178319219201193314154528290330271480356
Exceptional items (within Other Income)000000
Interest3735395960768266839194106126
Depreciation353376374368381397471455476505521557537
Profit before tax1,8501,9171,8291,6051,8831,9171,8742,0051,9051,7451,543200553
Tax %2423241826302521262323-1121
Net Profit1,4051,4821,3811,3101,3921,3421,4041,5871,4101,3371,190221436
EPS in Rs17181716171517191716152.655.32
Diluted EPS in Rs191716152.655.33

Profit & loss

Yearly sales, costs and profit for 12 years, plus the last 12 months (TTM). ₹ crore.

Consolidated · to 31 Mar 2026
Line itemMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales15,02315,56814,19614,28115,44817,51719,04821,54524,67028,01132,64433,70033,228
Expenses11,51511,98311,72411,93012,27015,04015,17317,77818,20020,07824,09727,24728,088
Material Cost5,6846,501
Change in Inventories-545-424
Purchases of Stock-in-Trade4,8416,162
Employee Cost5,5805,991
Other Expenses8,5379,017
Operating Profit3,5083,5852,4722,3513,1782,4773,8743,7686,4707,9338,5476,4545,140
OPM %23231716211420172628261915
Other Income2602951721553816703355559719091,1191,3721,437
Exceptional items (within Other Income)00
Interest10883637989989796143171283374416
Depreciation7609391,0271,0771,1351,1631,2291,1651,2501,4701,7042,0592,119
Profit before tax2,9002,8591,5541,3502,3361,8862,8843,0616,0487,2017,6805,3934,041
Tax %1926193217-7322925232523
Net Profit2,3362,1311,2929471,9502,0261,9522,1824,5075,5785,7254,1583,183
EPS in Rs27251611232423265467685039
Diluted EPS in Rs6850
Dividend Payout %151626351721212315121216

Compounded growth

Average yearly growth over different spans, as stored. A span can cross a demerger or an acquisition.

Compounded sales growth

10 years
8%
5 years
12%
3 years
11%
TTM
-1%

Compounded profit growth

10 years
7%
5 years
15%
3 years
-4%
TTM
-43%

Stock price CAGR

10 years
7%
5 years
4%
3 years
3%
1 year
-2%

Return on equity

10 years
15%
5 years
16%
3 years
16%
Last year
11%

Balance sheet

What the company owns and what it owes, at the end of each year. ₹ crore.

Consolidated
Line itemMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital858583838383838383838384
Reserves9,76812,48412,17912,48913,94115,51617,55819,12923,20328,17133,46637,808
Borrowings4,3143,3524,9185,0713,8382,2103,0313,3841,3472,0024,6777,734
Other Liabilities4,2904,4084,4744,7064,5575,4145,9157,1497,5768,5239,79710,951
Minority Interest378339
Total Liabilities18,45720,33021,65422,34922,41823,22326,58829,74632,20938,78048,02356,577
Fixed Assets5,3776,5636,9316,9687,1916,8508,2068,1229,21910,42618,22622,063
CWIP5297723,3243,4702,9341,5351,5651,2931,0301,4192,4661,460
Investments2,2483,8332,1102,2982,5872,6782,2122,6164,9864,9304,0515,285
Other Assets10,3039,1629,2909,6129,70712,16014,60517,71516,97422,00423,28027,768
Total Assets18,45720,33021,65422,34922,41823,22326,58829,74632,20938,78048,02356,577

Cash flows

Real money coming in and going out each year — from the business, from investments and from loans. ₹ crore.

Consolidated
Line itemMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity2,5243,2632,1441,8032,8702,9843,5702,8115,8884,5434,6435,674
Cash from Investing Activity-2,370-1,610-1,890-1,483-769-495-2,255-2,565-4,109-4,034-5,785-6,425
Cash from Financing Activity-433-1,700-369-444-2,133-2,516-30-242-2,686-3761,891829
Net Cash Flow-280-47-114-124-31-271,2863-90713374978
Free Cash Flow1,0092,0659267132,2482,4122,3231,2384,0091,9081,3272,005

Ratios

How fast customers pay, how long stock sits, and how well capital earns — year by year.

Consolidated
Line itemMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days10097981049410595113107105101110
Inventory Days248248282263273230273250232283260228
Days Payable84881041211111001091111081169791
Cash Conversion Cycle264257275246256235259252231271264247
Working Capital Days2634-143965595761841186968
ROCE %2219981311161427272313

Shareholding pattern

Who owns the company — founders (promoters), foreign funds, Indian funds and the public. In %.

Consolidated · to 30 Jun 2026
Line itemSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters272727272727272727272727
FIIs282929282827262525222121
DIIs211918212123262728303132
Public242626252423222120202121
Others0.180.180.170.170.160.160.290.260.250.250.240.20
No. of Shareholders2,43,4452,57,7942,55,5002,67,6943,10,4034,03,6694,59,6054,51,9294,49,2164,55,2434,49,6654,46,086

Price trend

The price as a Renko brick chart: small moves drop out so the bigger path stands out.

Change over 1 year -5.3% (₹1,246.10 → ₹1,180.00)Brick size ₹25.74 (fixed)Bricks 41
₹1,300₹1,180Dec '25Feb '26Apr '26Jun '26Aug '26Oct '26
Price moved up one brickPrice moved down one brickLast close ₹1,180.00 on 8 Oct 2026

Every brick is the same size, about one typical day's move. A new brick needs a full brick's move; turning the other way needs two. Bricks show where the price went, not where it will go.

Open interestPRO

Where option traders are positioned on this stock.

Industry numbers

The numbers that matter most in this industry, from the company's own filings.

1 when an audit qualification is filed as repetitive

0.00flag

2026-03-31

the company's own unlisted debt securities in default at period end

0.00cr

2026-06-30

the company's own loans / revolving facilities in default at period end (standalone filing)

0.00cr

2026-06-30

guarantees / comfort given for promoter, promoter group, directors and KMP

0.00cr

2026-03-31

loans outstanding to promoter, promoter group, directors and KMP (governance filing)

0.00cr

2026-03-31

security given for the borrowing of promoter, promoter group, directors and KMP

0.00cr

2026-03-31

R&D as % of revenue

7.10pct

2026-06-30

FY revenue / permanent employees + workers, same basis (calc)

1,19,96,725inr

2026-03-31

News

News and filings about Dr Reddy's Laboratories. Open one to see why it matters.

Supply chain

Who it buys from, sells to and competes with — as recorded in our map of company links.

Competes with

Uses as raw material

  • Active Pharmaceutical Ingredients (APIs)
  • Key Starting Materials (KSMs)
  • Pharmaceutical Intermediates
  • Solvents

Buys drug ingredients from

  • China (KSM/intermediate suppliers)

Buys from

Sells to

  • Emerging Markets (incl. Russia, CIS) · Branded + generic formulations; Russia growth +8% YoY FY26
  • Europe generics · Generics + Nicotine Replacement Therapy (NRT) portfolio; Europe revenue +55% YoY FY26
  • India branded formulations (IPM) · Branded formulations; ranked #10 in Indian Pharmaceutical Market
  • North America generics (US) · Finished-dose generics + biosimilars + lenalidomide; largest regulated market

About

What the company is, from our own records: where it sits, where it makes things, and what it is made of.

Sector
Healthcare
Industry
Pharmaceuticals
Classification
Healthcare › Pharmaceuticals
ISIN
INE089A01031

Business segments

  • a) Global Generics · 87%
  • b) Pharmaceutical Services and Active Ingredients · 12%
  • c) Others · 1%

Plants

  • Bachupally (Hyderabad FTO, Global Lighthouse)
  • Baddi plant · Baddi, Himachal Pradesh
  • IDA Bollaram API plant
  • Nalgonda API plant (Peddadevulapally, Tripuraram)
  • Srikakulam API plant (IDA Pydibheemavaram + SEZ Ranastalam)
  • Vizag SEZ formulations plant (Duvvada)

News impact

Big market events that reach Dr Reddy's Laboratories, and how the effect spreads.

Who it hits first

  • Sun Pharmaceutical, India's biggest drugmaker by market value, plans to raise Rs 10,000 crore by selling rupee bonds maturing in two, three and four years.
  • The money will refinance borrowings tied to its Organon deal, swapping old deal loans for new bonds rather than funding new factories or drugs.
  • Existing Sun Pharma shareholders face mild pressure from higher interest costs and extra bond supply, partly offset by longer, possibly cheaper maturities.

Who may gain

  • Bond buyers and mutual funds gain fresh, highly rated Sun Pharma paper across 2-4 year maturities.
  • The banks and arrangers running the Rs 10,000 crore sale earn underwriting fees.
  • Long-term Sun Pharma holders could benefit if the new bonds carry lower rates than the old deal debt.

Along the supply chain

Downstream

No downstream effect — Sun Pharma sells finished medicines, and a bond refinancing does not change drug prices, chemist stocks or patient demand.

Upstream

No direct supply-chain link — Divi's Laboratories and other ingredient suppliers to Sun Pharma keep the same orders, since refinancing changes lenders, not production.

Where demand moves

Business

No new drug demand is created — hospitals, chemists and patients buy the same medicines; the only business flow is Sun Pharma swapping one lender for another.

Capital

About Rs 10,000 crore of investor money flows into new Sun Pharma bonds while the repaid Organon deal loans release bank capital for other borrowers, and Sun Pharma shares may see mild selling as leverage headlines weigh.

How it spreads across sectors

Healthcare

Neutral for drug peers — a single company's refinancing moves no industry sales or prices, so rivals from Cipla to Lupin should trade flat.

IT Services

No spillover — the 'Rupee Cascade' keyword fired only because the bonds are rupee-denominated, not because the currency moved, so export-earning sectors see no chain.

A pattern seen before

Cascade chain

Pattern name

Rupee Cascade

Patterns

  • Rupee Cascade

Sectors queried

  • IT Services
  • Oil & Gas
  • Pharma

When it plays out

Immediate

Sun Pharma shares drift mildly on the leverage headline while bond arrangers sound out investors for the 2-4 year tranches.

Medium term

Higher interest costs show up in quarterly results; if rates fell, refinancing savings support earnings instead.

Short term

Bond pricing and demand decide the verdict — a well-bought issue calms equity, a weak one extends the drag.

Who it hits first

  • The United States waived import tariffs on certain speciality drugs shipped from 20 countries, including India, just ahead of a threatened 100% tariff on pharmaceuticals.
  • Indian makers of speciality and generic drugs — led by Sun Pharmaceutical (India's largest drug maker), Dr Reddy's Laboratories, and Cipla — can keep selling into the US without a sudden cost jump.
  • The relief is narrow (only certain speciality drugs) and comes with the bigger tariff threat still hanging, so the gain is real but capped.

Who may gain

  • Sun Pharmaceutical (India's largest drug maker) — biggest US speciality and generic sales base to protect.
  • Dr Reddy's Laboratories (generic and speciality drug maker) — keeps US pricing intact.
  • Cipla (respiratory and generic drug maker) — same US cost relief.
  • Divi's Laboratories (bulk-drug ingredient maker) — supplies all three named exporters, so steadier US orders flow upstream.
  • Laurus Labs (drug-ingredient and contract maker) — supplies Dr Reddy's and Cipla.
  • Biocon (biologics maker) — speciality-biologic sales get tariff shelter, though weak profits limit the cheer.

Along the supply chain

Downstream

Downstream, US distributors and patients see no price jump on the covered speciality drugs, so demand stays steady rather than shifting to other countries' suppliers.

Upstream

Upstream makers of drug ingredients benefit second-hand: Divi's Laboratories supplies Sun Pharma, Dr Reddy's, and Cipla, and Laurus Labs supplies Dr Reddy's and Cipla, so steadier US formulation sales support their order books.

Where demand moves

Business

US buyers keep ordering Indian speciality drugs at tariff-free prices instead of cutting back or switching suppliers, so export volumes and margins for Sun Pharma, Dr Reddy's, and Cipla hold up.

Capital

Investors re-rate US-exposed pharma shares as the near-term tariff shock is removed, pulling money back into large exporters and their ingredient suppliers.

How it spreads across sectors

Healthcare

Positive but narrow — US-facing drug exporters and their ingredient suppliers gain, while domestic hospitals and labs feel nothing.

When it plays out

Immediate

In 1-7 days, US-exposed pharma shares likely bounce as the tariff threat lifts and exporters confirm coverage.

Medium term

In 1-6 months, the benefit lasts only if the waiver holds and the broader tariff stays away; any widening of US drug tariffs reverses it.

Short term

In 1-4 weeks, gains settle as investors check which speciality drugs are covered and watch the threatened 100% tariff's next move.

Who it hits first

  • Morepen Laboratories Limited, a small Indian drug maker, has filed its first drug application in the United States for a copy (generic) of a diabetes pill that works as a DPP-4 inhibitor, which helps control blood sugar.
  • A first US filing opens the door to future US sales if the American drug regulator approves it, but approval takes many months and the article calls it a late entry into a crowded diabetes market.
  • Morepen shares sit under mid-stage exchange watch (ASM stage 1), so any price pop may be capped by trading curbs.

Who may gain

  • Morepen Laboratories itself, the filing company, gains a first shot at the large US diabetes market if approval comes through.
  • No other company gains directly in this pack: the ten listed rivals are large incumbents or ingredient makers, and a single early filing by a small player does not send them business.

Along the supply chain

Downstream

Downstream, no distributor or pharmacy chain is named, and US patients would only benefit much later if a cheaper generic reaches shelves after approval.

Upstream

Upstream, the pack lists no suppliers for Morepen, so no ingredient or equipment maker gains work from this filing.

Where demand moves

Business

Business demand does not move yet: a filing is a request for approval, not an order, so no factory gains sales until the US regulator clears the pill and buyers place orders.

Capital

Investor money may buy a little Morepen on US hopes, while largely ignoring its large rivals, though exchange watch (ASM stage 1) and the long wait for approval temper excitement.

How it spreads across sectors

Healthcare

A small first US filing lifts sentiment for tiny filers but leaves large drug makers untouched, as one early diabetes copy does not change market shares.

When it plays out

Immediate

1-7 days: Morepen may see talk-driven moves under ASM curbs; rivals stay flat as the filing is too early to matter.

Medium term

1-6 months: Filing sits in review with no revenue; real impact only comes if approval and launch milestones arrive later.

Short term

1-4 weeks: Watch for US regulator acceptance of the filing and any Morepen update on timelines; no sales yet.

Who it hits first

  • Zydus Lifesciences, the Ahmedabad-based drug maker, had its New Jersey site's drug-safety monitoring system inspected by the US Food and Drug Administration from September 22 to 25.
  • The inspection closed with nil (zero) observations, meaning the inspectors found no problems needing corrective action.
  • This removes a near-term regulatory worry for Zydus's US business but does not by itself create new sales.

Who may gain

  • Zydus Lifesciences — lower US regulatory risk and steadier sentiment for its existing US drug sales.
  • Zydus shareholders — reduced overhang of a warning letter or import restriction at this New Jersey site.

Along the supply chain

Downstream

US distributors, pharmacies and patients see continued supply confidence, but no price or volume shift — this clearance does not approve a new drug.

Upstream

Ingredient, packaging and service suppliers to Zydus see no direct order change — a clean safety-system inspection keeps existing production running rather than adding new volume.

Where demand moves

Business

No new purchase orders flow from this clearance — it is a compliance pass, not a contract win — but it protects Zydus's existing US drug sales from disruption.

Capital

Investors are likely to give Zydus a small relief premium as US regulatory risk falls, with little fresh money moving into rival drug stocks on this news alone.

How it spreads across sectors

Healthcare

Mild positive sentiment for Indian drug exporters on clean USFDA news, but no sector-wide earnings change since the clearance is specific to one Zydus site.

When it plays out

Immediate

1-7 days: Zydus shares firm modestly on relief; rival drug stocks barely move.

Medium term

1-6 months: no lasting uplift unless followed by new US approvals or launches linked to the site.

Short term

1-4 weeks: focus shifts back to Zydus's US pipeline and pricing; the inspection fades as a price driver.

Who it hits first

  • Biocon, the Bengaluru drug maker, won UK regulator (MHRA) approval for a new fill-finish (final vial filling and packing) unit at its Malaysia plant for insulins.
  • The clearance follows earlier European (EMA) clearances and lets the Malaysia line pack Semglee insulin and other biologic medicines for the UK.
  • No order size, price, or launch date was disclosed, so the near-term sales uplift is unconfirmed.

Who may gain

  • Biocon gains an approved UK supply path for its Malaysia-made insulins, easing a regulatory bottleneck.
  • UK buyers and patients get a more secure Semglee insulin supply once shipments start.
  • Rivals, builders, and domestic customers named in the pack gain no direct business from this clearance.

Along the supply chain

Downstream

The downstream path is Biocon Malaysia packing Semglee and other biologics for UK distribution; the pack names Eris as a Biocon customer, but that is a domestic link, not this UK insulin channel, so no read-through.

Upstream

No added raw-material or equipment orders: the unit is already built and approved, so ingredient and vial suppliers see no new demand from this notice.

Where demand moves

Business

No new purchase order was announced; the business gain is an opened supply channel — Biocon Malaysia can now fill and pack Semglee insulin for the UK, with revenue only as shipments flow.

Capital

Investors may nudge Biocon shares on the de-risking, while rival drug stocks see no capital rotation since no demand shifts between them.

How it spreads across sectors

Healthcare

Mildly positive sentiment for Indian biosimilar makers on another UK facility nod, but no orders move, so peers stay flat.

When it plays out

Immediate

1-7 days: Biocon shares react mildly to the approval headline; no shipment or revenue change yet.

Medium term

1-6 months: Malaysia-packed Semglee volumes reach the UK and show up in Biocon biologics sales if demand holds.

Short term

1-4 weeks: UK batch releases and packing schedules firm up; watch for Biocon commentary on volumes.

Dividends, splits & big trades

Money paid out, share splits and buybacks, and big buys or sells by funds and insiders.

Dividends

10 Jul 2026unspecified₹8
10 Jul 2025unspecified₹8
28 Oct 2024split₹0
16 Jul 2024unspecified₹40
11 Jul 2023unspecified₹40
11 Jul 2022unspecified₹30
9 Jul 2021unspecified₹25
13 Jul 2020unspecified₹25

Splits, bonuses & buybacks

  • daily-prices repair: 9 rows from NSE's archive (replace 1, delete 1, insert 7), 2016-10-30..2026-02-01 (docs/flat_day_repair.md)1× · 30 Oct 2016

Documents

Annual reports, results presentations and earnings calls, straight from the source.

Facts from company filings and exchange data. Not investment advice: nothing here tells you to buy or sell.