India's Dr Reddy's logs worst week in 3 years as semaglutide disruption fuels growth concerns
BUZZ-India's Dr Reddy's logs worst week in 3 years as semaglutide disruption fuels growth concerns Updates
** Dr Reddy's Laboratories REDY.NS closed 1.8% down at 1246.5 rupees, down as much as 3.7% in the session
** Stock logs second straight day of losses; down 9.3% over the week, biggest weekly drop since May 2023
** Co reported on Thursday that supplies of generic semaglutide would remain unavailable in India and face disruptions in Canada due to impurities in API, until late October at least
** Systematix downgrades REDY to "hold", believes execution risk remains, with possibility of further delays
** Emkay Global ("reduce", PT 1,300 rupees) cuts FY27 earnings estimates by 7% as prior margin assumptions "now seem out of reach"
** REDY rated "hold" on avg by 38 analysts; median PT 1,300 rupees - data compiled by LSEG
** Torrent Pharmaceuticals TORP.NS, which sources finished semaglutide doses from REDY, down 2.3%
** REDY down 2% YTD
(Reporting by Abhirami G in Bengaluru)
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