Dr. Reddy’s Labs - gVascepa Launch To Assist In Earnings Growth: Axis Securities

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Axis Securities Report

Dr. Reddy’s Laboratories Ltd. offers a portfolio of products and services including active pharmaceutical ingredients, custom pharmaceutical services, generics, biosimilars, and differentiated formulations.

The major therapeutic areas of focus are gastrointestinal, cardiovascular, diabetology, oncology, pain management, and dermatology.

The company operates in markets across the globe.

It has announced the launch of icosapent ethyl capsules (gVascepa), one gram approved by the U.S. Food and Drug Administration.

The total market size of gVascepa is $429 million. At present, there are three players in this space namely Amarin, Hikma, and Dr. Reddy's.

We expect a 40% price erosion in gVascepa market size in FY22E and a 10% incremental price erosion in the upcoming years.

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