India's Dr Reddy’s falls as brokerages flag weak US growth, regulatory risks
BUZZ-India's Dr Reddy’s falls as brokerages flag weak US growth, regulatory risks ** Shares of Dr Reddy's Laboratories REDY.NS down about 1% at 1,344.5 rupees
** Jefferies maintains "underperform" rating with PT of 1,040 rupees, says "risk-reward is unfavourable"
** Pending approvals and competition for semaglutide in Canada will make it difficult for co to sustain its market position, brokerage says
** Jefferies says it has limited visibility/confidence in REDY's pipeline, sees ~$180 mln shortfall that new product launches may struggle to fill
** Emkay revises TP to 1,300 rupees from 1,200 rupees, maintains "reduce" rating
** Flags measured optimism around on-time approval of Abatacept; says past US FDA rejections linked to manufacturing issues and repeated problems at Bachupally facility raise concerns
** YTD, stock up 5.60%
(Reporting by Saikeerthi in Bengaluru)
((Saikeerthi@thomsonreuters.com; (+91) 8296756080))
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