Dr Reddys Laboratories Ltd — earnings calls

Dr. Reddy's held a call to disclose that an impurity was found out of specification during testing of a scaled-up semaglutide API batch used to make the finished injectable formulation, prompting a halt to commercial supply pending investigation and revalidation. Management said no product already supplied to the market is affected, no regulatory filings are impacted, and the oral tablet formulation using a different API source is unaffected. The company said it expects to resume commercial supply around November, targeting 6 to 7 million pens between November and March against a prior annual target of 12 million pens.