Dr Reddy's Laboratories Stock (NYSE: RDY)

Dr Reddy's Laboratories Stock (NYSE:RDY), Trade Ideas

Dr Reddy's Laboratories

Dr. Reddy's is one of the largest generic drug manufacturers in the world. It has a significant presence in North America, a region that makes up roughly half of its generics sales, and it services India (22% of its generics sales), Russia (12%), and certain European and Latin American countries. Beyond simple generics, Dr. Reddy's also has a solid portfolio of injectables which make up 25% of its North America sales. In branded generic markets like India, Dr. Reddy's has established a compelling presence with its strong brand name and earned a top five spot in key therapeutic areas including oncology and gastroenterology. Dr. Reddy's also has an active pharmaceutical ingredient business that manufactures over 150 APIs and sells in over 75 countries.

Wegovy

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Indian pharmaceutical giants, including Sun Pharma and Cipla, seize the opportunity to develop affordable versions of Novo Nordisk&#39;s Wegovy weight-loss treatment. With patents set to expire by 2026-2032, these generics aim to address India&#39;s rising obesity and diabetes concerns, anticipating substantial market growth in the next decade.

Global Access to Weight-Loss Treatments: Indian Pharma Giants Eye Affordable Wegovy Alternatives Amid Rising Demand

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The most overbought stocks in the health care sector presents an opportunity to go short on these overvalued companies.

Top 5 Health Care Stocks That May Fall Off A Cliff

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DERM

Journey Medical Corporation (NASDAQ: DERM) shares are trading lower after the company announced topline results from the two Phase 3 trials, evaluating Minocycline Hydrochloride Modified Release Capsules (DFD-29) for adult patients with moderate-to-severe 

Why Are Journey Medical Shares Trading Lower Today?

Dr. Reddy's Laboratories Ltd Common Stock

Dr Reddy's Laboratories Ltd

Newpath Resources Inc

Dr. Reddy&rsquo;s Laboratories Ltd. ((BSE: 500124, NSE: DRREDDY, NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RDY#NYSE">RDY</a>, NSEIFSC: DRREDDY, hereafter referred to as &amp;ldquo, Dr. Reddy&amp;rsquo, s&amp;rdquo, )), a global pharmaceutical company, announced the launch of the drug-free non-invasive migraine management wearable device Nerivio&reg; in Germany through its step-down subsidiary betapharm. The launch marks the company&rsquo;s entry into digital therapeutics in Europe. Nerivio&reg; is approved by the United States Food and Drug Administration (USFDA), and is CE-mark certified in Europe. &nbsp;

Government

Regulations

Dr. Reddy's Launches Drug-Free Migraine Management Device Nerivio In Europe Following Successful Launch In India

- SEC Filing
&nbsp;
Dr. Reddy's Laboratories Ltd. ((BSE: 500124, NSE: DRREDDY, NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RDY#NYSE">RDY</a>, NSEIFSC: DRREDDY, hereafter referred to as "Dr. Reddy's")) and Bayer announced that both companies have entered into a partnership to market and distribute a second brand of Vericiguat in India. Under the terms of this agreement, Bayer has granted non-exclusive rights to Dr. Reddy's under the brand name Gantra&#xAE;. Vericiguat, a soluble guanylate cyclase (sGC) stimulator, in India, is indicated, along with guideline-based medical therapy, in adults with symptomatic chronic heart failure with reduced ejection fraction (less than 45%), following a recent event of worsening heart failure which required hospitalization or outpatient intravenous (IV) diuretics6. Vericiguat works on a pathway not currently targeted by existing heart failure treatments and can reduce the combined risk of cardiovascular death and heart failure hospitalization in such patient7,8. India has between 8-10 million people with heart failure, making it one of the largest populations with this condition9.
&nbsp;
Shweta Rai, Managing Director, Bayer Zydus Pharma and Country Division Head (CDH) for Bayer's Pharmaceuticals Business in South Asia said, "Despite therapy, chronic heart failure patients can experience disease progression that disrupts their lives and leads to worsening heart failure events. Vericiguat can help slow down disease progression, reduce hospital admissions and improve their chances of survival10,11. The introduction of a second brand of vericiguat in India, through our partnership with Dr. Reddy's is a reaffirmation of our commitment to making innovative healthcare solutions accessible to as many patients as possible. We are excited about the possibilities this partnership with Dr. Reddy's presents in improving health outcomes for patients with chronic HF, following a recent event of worsening heart failure."

Contracts

Global

Dr. Reddy's Laboratories Ltd. And Bayer Entered Into A Partnership To Market And Distribute A Second Brand Of Vericiguat In India. Under The Terms Of This Agreement, Bayer Has Granted Non-Exclusive Rights To Dr. Reddy's Under The Brand Name Gantra

Dr Reddy's Entered Into Exclusive Distribution Partnership With Sanofi Healthcare India

Dr. Reddy's Laboratories Inks Pact With Pharmazz Inc. For Licensing Agreement To Market Centhaquine (Lyfaquin) As A Resuscitative Agent For Hypovolemic Shock In India

While&nbsp;Novo Nordisk A/S&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVO#NYSE">NVO</a>) faces challenges in meeting the global demand for its highly sought-after weight-loss treatment, Wegovy, Indian drugmakers see an opportunity to&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/23/12/36300585/novo-nordisk-collaborates-with-indias-online-marketplace-to-remove-unauthorized-wegovy-listings" rel="noreferrer noopener">enhance global access and affordability</a>.&nbsp;
Indian pharmaceutical players, including&nbsp;Sun Pharma,&nbsp;Cipla,&nbsp;Dr. Reddy&#8217;s&nbsp;Laboratories Ltd&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RDY#NYSE">RDY</a>), and&nbsp;Lupin, are aggressively pursuing the development of their versions of Wegovy.&nbsp;
Industry analysts anticipate a significant increase in volume once the patents expire, making these drugs more accessible to a broader population.
In India, where high obesity rates and the second-highest number of people with type 2 diabetes prevail, the potential for the success of these drugs is substantial.&nbsp;
&#8220;We expect volume expansion to increase multi-fold by the time patent expires, which is a few years from now,&#8221; Reuters noted quoting Systematix analyst Vishal Manchanda. &#8220;They will also be available at a much lower price by generic drugmakers.&#8221;
Citing Cipla Global CEO&nbsp;Umang Vohra, Reuters highlights the significant market potential in India, which is driven by lifestyle choices and health concerns.
Novo Nordisk plans to&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/23/09/35000410/novo-nordisk-targets-high-demand-indian-market-for-its-popular-obesity-drugs-like-wegovy" rel="noreferrer noopener">introduce Wegovy in India by 2026</a>, providing a timeline for Indian drugmakers to compete. The patents for Wegovy are set to expire in various regions between 2026 and 2032, paving the way for generic versions and potential market competition.
While Sun Pharma takes a unique approach by developing its experimental drug, others like Dr. Reddy&#8217;s and Cipla focus on creating generic versions of Wegovy.&nbsp;
The Indian market for diabetes drugs alone was estimated at ₹316 billion ($3.81 billion) in 2023 and is projected to hit ₹1.2 trillion ($14.48 billion) in the next decade, Reuters notes, citing the data from Expert Market Research.
As Indian pharmaceutical companies strive to make inroads into the weight-loss market, they face the unique challenge of building a market for anti-obesity drugs in a price-sensitive environment, unlike in other countries where existing markets can be leveraged.
Price Action: NVO shares are up 1.96% at $123.30 on the last check Thursday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Wegovy. Image Via Shutterstock

WIIM

Dr. Reddy's Laboratories shares are trading higher following Q3 earnings.

Earnings

Dr. Reddy Q3 2024 EPS Rs82.68 Up From Rs74.95 YoY; Revenue Rs72.148M Up From Rs67.700M YoY

Dr Reddy's Laboratories (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RDY#NYSE">RDY</a>) reported its Q3 earnings results on Tuesday, January 30, 2024 at 01:30 PM.
Here's what investors need to know about the announcement.
<h3>Earnings</h3>
Dr Reddy's Laboratories beat estimated earnings by 25.32%, reporting an EPS of $0.99 versus an estimate of $0.79.
Revenue was up $42.39 million from the same period last year.
<h3>Past Earnings Performance</h3>
Last quarter the company beat on EPS by $0.23 which was followed by a 0.7% increase in the share price the next day.
Here's a look at Dr Reddy's Laboratories's past performance:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.84</td>
<td>0.70</td>
<td>0.64</td>
<td>0.58</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>1.07</td>
<td>1.03</td>
<td>0.70</td>
<td>0.91</td>
</tr>
<tr>
<td>Revenue Estimate</td>
<td>819.33M</td>
<td>783.68M</td>
<td>742.18M</td>
<td>699.00M</td>
</tr>
<tr>
<td>Revenue Actual</td>
<td>828.00M</td>
<td>821.00M</td>
<td>766.00M</td>
<td>824.61M</td>
</tr>
</tbody>
</table>

To track all earnings releases for Dr Reddy's Laboratories <a href="https://www.benzinga.com/quote/RDY/earnings">visit their earnings calendar here.</a> 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Dr Reddy's Laboratories: Q3 Earnings Insights

Dr Reddy's Laboratories (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RDY#NYSE">RDY</a>) reported quarterly earnings of $0.99 per share which beat the analyst consensus estimate of $0.79 by 25.7 percent. This is a 9.12 percent increase over earnings of $0.91 per share from the same period last year. The company reported quarterly sales of $866.64 million which beat the analyst consensus estimate of $825.86 million by 4.94 percent. This is a 5.10 percent increase over sales of $824.61 million the same period last year.

Dr Reddy's Laboratories Q3 EPS $0.99 Beats $0.79 Estimate, Sales $866.64M Beat $825.86M Estimate

Barclays analyst Balaji Prasad maintains Dr Reddy's Laboratories (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RDY#NYSE">RDY</a>) with a Overweight and raises the price target from $75 to $80.

Price Target

Analyst Ratings

Barclays Maintains Overweight on Dr Reddy's Laboratories, Raises Price Target to $80

<a href="https://www.bseindia.com/xml-data/corpfiling/AttachLive/5cc3fd6c-3094-47e1-b1d2-091e2c28dbeb.pdf">https://www.bseindia.com/xml-data/corpfiling/AttachLive/5cc3fd6c-3094-47e1-b1d2-091e2c28dbeb.pdf</a>
Sky News Report <a href="https://news.sky.com/story/indian-pharma-group-dr-reddys-eyes-swoop-on-nicotinell-13049500">https://news.sky.com/story/indian-pharma-group-dr-reddys-eyes-swoop-on-nicotinell-13049500</a>

Rumors

Management

Dr Reddy's Laboratories Issues Response Regarding A News Item Published In "Sky News" On January 16, 2024, With The Heading "Indian Pharma Group Dr Reddy's Eyes Swoop On Nicotinell"; Says "The Company Does Not Comment On Market Speculations"

Dr. Reddy's Announces The Acquisition of MenoLabs, A Women's Health And Dietary Supplements Portfolio Of Brands

Dr. Reddy's Becomes First Indian Pharma Company To Debut On The Dow Jones Sustainability World Index For 2023

Dr. Reddy's shares are trading lower after the FDA issued observations for the company's Telangana unit.

<a href="https://www.reuters.com/business/healthcare-pharmaceuticals/indias-dr-reddys-shares-fall-observations-us-regulator-2023-12-11/" title="https://www.reuters.com/business/healthcare-pharmaceuticals/indias-dr-reddys-shares-fall-observations-us-regulator-2023-12-11/">https://www.reuters.com/business/healthcare-pharmaceuticals/indias-dr-reddys-shares-fall-observations-us-regulator-2023-12-11/</a>
&nbsp;
Shares of Indian drugmaker Dr. Reddy's Laboratories <a href="https://www.reuters.com/markets/companies/REDY.NS">(REDY.NS)</a> were down 5.8% on Monday after the U.S. Food and Drug Administration issued three observations for the company's plant in Telangana state.
The stock's decline is its steepest since mid-August, the only other time this year that it has fallen over 6%.
Dr. Reddy's is also the top loser on the Nifty Pharma <a href="https://www.reuters.com/markets/quote/.NIPHARM">(.NIPHARM)</a> index, which is down 1.1%.
Since touching a three-month low following its second-quarter results in late October, the stock had regained nearly 8% of its value before the fall on Monday.
The average rating of 34 analysts on the stock is "hold", with a median price target of 5,615.5 rupees, more than 3% higher than its current price.
Maintaining a "sell" rating on the stock, Antique Stock Broking believes that there is a high likelihood of the site getting a warning letter, given the severity of some observations that Dr. Reddy's has received.
Some of the observations are regarding quality control, faulty equipment, and integrity of the company's data, according to the brokerage.
Dr. Reddy's Telangana facility contributes to around 30% of its revenue from the U.S., its largest market, the brokerage said in a note.
The North American segment comprised roughly half its generic drug revenue in the second quarter.

Reported Earlier, 'India's Dr. Reddy's Shares Fall On Observations From U.S. Drug Regulator' - Reuters News

COYA

Dr. Reddy's To Make $7.5M Upfront Payment To Coya, $4.2M Payment Upon Acceptance Of IND Application, $4.2M Upon First Patient Dosing In Phase 2 Trial And Development And Regulatory Milestones Of Up To $40M; Coya Is Eligible For Up To $677.25M In Sales-Based Milestones

Coya Therapeutics And Dr. Reddy's Laboratories Enter Exclusive Collaboration For Development And Commercialization Of COYA 302 For ALS, Under Which Dr. Reddy's Will Obtain Commercialization Rights For COYA 302 In US, Canada, UK And EU

Dr. Reddy's Laboratories Announced The Roll-out Of Nerivio In India, An FDA Approved Wearable Therapy Device For Drug-free Management Of Migraine

Dr. Reddy's Laboratories Says "FDA Today Completed A Product Specific Pre-Approval Inspection At Our Biologics Manufacturing Facility. The Inspection Was Conducted From Oct 4-12, We Have Been Issued A Form 483 With 9 Observations"

The most overbought stocks in the health care sector presents an opportunity to go short on these overvalued companies.
The RSI is a momentum indicator, which compares a stock&#39;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#39;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered overbought when the <a href="https://www.benzinga.com/topic/rsi"> RSI is above 70.</a>
Here&rsquo;s the latest list of major overbought players in this sector.
<h3>Capricor Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/capr#NASDAQ">CAPR</a>)</h3>
<ul>
<li>The company posted better-than-expected quarterly results. &ldquo;In the second quarter of 2023 we presented positive two-year data from our ongoing HOPE-2 open label extension (OLE) study, which we believe further supports our rapidly advancing late-stage clinical development program for CAP-1002 in patients with Duchenne Muscular Dystrophy (DMD),&rdquo; said Linda Marb&aacute;n, Ph.D., Capricor&rsquo;s chief executive officer. The company&rsquo;s stock has a <a href="https://www.benzinga.com/quote/CAPR">52-week high of $8.11. </a>.</li>
<li>RSI Value: 71.52</li>
<li>CAPR Price Action: Shares of Capricor Therapeutics fell 4.9% to close at $7.34 on Monday.</li>
</ul>
<h3>Praxis Precision Medicines, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/prax#NASDAQ">PRAX</a>)</h3>
<ul>
<li>Praxis Precision Medicine posted a narrower second-quarter loss. &ldquo;Our four clinical-stage programs continue to make great progress, and we are excited to be advancing ulixacaltamide into Phase 3,&rdquo; said Marcio Souza, president and chief executive officer of Praxis. The company&rsquo;s <a href="https://www.benzinga.com/quote/PRAX"> stock has a 52-week high </a> of $5.25.</li>
<li>RSI Value: 71.29</li>
<li>PRAX Price Action: Shares of Praxis Precision Medicines fell 3.5% to close at $1.40 on Tuesday.</li>
</ul>
<h3>National HealthCare Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nhc#NYSE">NHC</a>)</h3>
<ul>
<li>For the quarter ended June 30, 2023, the reported GAAP net income attributable to NHC was $16,281,000, up from $3,203,000 for the year-ago period. The company has a <a href="https://www.benzinga.com/quote/NHC"> 52-week high </a> of $70.78.</li>
<li>RSI Value: 74.30</li>
<li>NHC Price Action: Shares of National HealthCare fell 0.7% to close at $68.56 on Tuesday.</li>
</ul>
<h3>Regeneron Pharmaceuticals, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/regn#NASDAQ">REGN</a>)</h3>
<ul>
<li>Regeneron Pharmaceuticals Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/regn#NASDAQ">REGN</a>) was awarded a government contract valued at up to $326 million. &quot;Although COVID-19 has moved to an endemic stage, many people &ndash; including those with immunocompromising conditions &ndash; continue to face exposure that impacts their everyday life and could cause serious health consequences,&quot; said Leonard Schleifer, board co-chair, president and CEO of Regeneron. The company&rsquo;s 52-week high is $10.25.</li>
<li>RSI Value: 76.55</li>
<li>REGN Price Action: Shares of Regeneron Pharmaceuticals fell 0.4% to close at $840.63 on Monday.</li>
</ul>
<h3>Dr. Reddy&#39;s Laboratories Limited (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rdy#NYSE">RDY</a>)</h3>
<ul>
<li>Dr Reddy&#39;s Laboratories reported better-than-expected first-quarter financial results. Co-Chairman &amp; MD, G V Prasad said, &quot;We delivered strong sales growth and witnessed robust margin expansion in Q1FY24 driven by market share gains &amp; new product momentum in our US generics business and superior performance in Russia.&quot; The company <a href="https://www.benzinga.com/quote/RDY"> has a 52-week high </a> of $72.13.</li>
<li>RSI Value: 75.61</li>
<li>RDY Price Action: Shares of Dr. Reddy&#39;s Laboratories fell 0.4% to settle at $71.47 on Tuesday.</li>
</ul>
&nbsp;
Read More: <a href="https://www.benzinga.com/news/earnings/23/08/33998119/advance-auto-parts-likely-to-post-sharp-decline-in-q2-earnings-heres-a-look-at-recent-price-target-"> Advance Auto Parts Likely To Post Sharp Decline In Q2 Earnings; Here&#39;s A Look At Recent Price Target Changes By The Most Accurate Analysts</a>

Intra-Cellular files lawsuits challenging Caplyta generics

Dr. Reddy's Laboratories Ltd (RDY) has released an update. Dr. Reddy's Laboratories Ltd. has partnered with Bayer to distribute a second brand of t...

Dr. Reddy's Expands Heart Failure Therapy in India

The pharmaceutical industry is expected to grow rapidly due to the ever-rising healthcare needs, increasing demand for innovative medications, and technological advancements. Therefore, fundamentally strong pharmaceutical stocks Dr. Reddy's (RDY), Teva Pharmaceutical Industries (TEVA), and AbbVie (ABBV) could be worth adding to your portfolio. Read on... The pharma industry is one of the most lucrative sectors in the global economy, with a high demand for innovative drugs and treatments. Over the last five years, worldwide medicine spending has <a href="https://www.iqvia.com/insights/the-iqvia-institute/reports-and-publications/reports/the-global-use-of-medicines-2024-outlook-to-2028">increased by 35%</a>, with a projected 38% increase through 2028 due to rising demand.
Given the industry's bright prospects, investors could consider buying fundamentally strong pharmaceutical stocks such as Dr. Reddy's Laboratories Limited (<a href="https://stocknews.com/stock/RDY/">RDY</a>), Teva Pharmaceutical Industries Limited (<a href="https://stocknews.com/stock/TEVA/">TEVA</a>), and AbbVie Inc. (<a href="https://stocknews.com/stock/ABBV/">ABBV</a>).
The pharmaceutical industry is thriving due to increased demand for medications and treatments, technological advancements, and research that leads to the development of new drugs and therapies. The American pharmaceutical industry, which accounts for <a href="https://gitnux.org/pharma-industry/">40 - 45%</a> of global pharmaceutical revenues, has significant market domination and economic impact, demonstrating the industry's strength and competitiveness.
Increasing rates of pharmaceutical business collaborations, accurate digitized diagnoses, and an increasing volume of bio-medical trials will contribute to the growth of the global pharma industry. The pharmaceutical manufacturing market is estimated at <a href="https://www.mordorintelligence.com/industry-reports/pharmaceutical-manufacturing">$465.16 billion in 2024</a> and is predicted to reach $967.12 billion by 2029, expanding at a CAGR of 12.1%.
In addition, the Global Pharma 4.0 Market is transforming the pharma sector as cutting-edge technologies are integrated into manufacturing to increase efficiency, lower costs, and speed up drug discovery processes. The global pharmaceutical 4.0 market is expected to expand at a <a href="https://www.giiresearch.com/report/tsci1460649-pharma-market-global-industry-size-share-trends.html">CAGR of 8.2%</a> until 2029.
The global pharmaceutical industry is expected to reach $2.83 trillion by 2033, growing at a <a href="https://www.biospace.com/article/releases/pharmaceutical-market-size-to-hit-around-usd-2-832-66-bn-by-2033/">CAGR of 6.2%</a>. Investors' interest in pharma stocks is evident from the Invesco Pharmaceuticals ETF's (<a href="https://stocknews.com/stock/PJP/">PJP</a>) 9% returns over the past six months.
With these favorable trends in mind, let's examine the fundamentals of the three best <a href="https://stocknews.com/category/pharmaceuticals/">Medical - Pharmaceuticals</a> stock picks, beginning with the third choice.
Stock #3: Dr. Reddy's Laboratories Limited (<a href="https://stocknews.com/stock/RDY/">RDY</a>)
Headquartered in Hyderabad, India, RDY is a global pharmaceutical company that manufactures and markets generic and branded drugs and active pharmaceutical ingredients, provides research services, develops therapies in oncology and inflammation, and offers digital healthcare services.
RDY's trailing-12-month EBIT margin of 24.90% is significantly higher than the industry average of 1.06%. Likewise, the stock's trailing-12-month <a href="https://www.investopedia.com/terms/l/levered-free-cash-flow.asp">levered FCF</a> margin of 8.56% is 886.8% higher than the industry average of 0.87%. Additionally, its 0.80x trailing-12-month asset turnover ratio is 102.2% higher than the industry average of 0.39x.
During the third quarter, which ended December 31, 2023, RDY's revenues rose 6.5% year-over-year to $867 million. The company's profit for the period grew 10.7% from the prior-year quarter to $166 million. Moreover, its EPS and EBITDA increased 10% and 7.6% from the previous year's quarter to $0.99 and $254 million, respectively.
Street expects RDY's EPS and revenue for the quarter ended March 31, 2024, to increase 11.2% and 10.7% year-over-year to $0.81 and $853 million, respectively. It surpassed the consensus EPS estimates in each of the trailing four quarters. Over the past year, RDY's shares have gained 25.7% to close the last trading session at $73.89.
RDY's <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a> reflect this promising outlook. It has an overall rating of A, equating to a Strong Buy in our proprietary rating system. The POWR Ratings assess stocks by 118 different factors, each with its own weighting.
RDY has an A grade for Stability and a B for Value and Sentiment. Within the <a href="https://stocknews.com/category/pharmaceuticals/">Medical - Pharmaceuticals</a> industry, it is ranked #15 out of 161 stocks. To see RDY's additional ratings for Growth, Momentum, and Quality, <a href="https://stocknews.com/stock/RDY/">click here</a>.
Stock #2: Teva Pharmaceutical Industries Limited (<a href="https://stocknews.com/stock/TEVA/">TEVA</a>)
Headquartered in Tel Aviv, Israel, TEVA develops, manufactures, markets, and distributes generic medicines, specialty medicines, and biopharmaceutical products in North America, Europe, Israel, and globally. It provides generic medicines, sterile products, and generic products. It focuses on the central nervous system (CNS), respiratory, and oncology areas.
On April 4, 2024, TEVA and mAbxience, a Fresenius Kabi majority-owned firm with an ownership interest in Insud Pharma, announced a strategic license deal for a biosimilar candidate in development to treat various cancer indications. Biosimilars show promise as cost-effective alternatives to conventional oncology medicines, addressing a crucial need in global oncology care.
This partnership between TEVA and mAbxience highlights their commitment to expanding access to high-quality, affordable cancer treatment worldwide.
TEVA's trailing-12-month EBIT margin of 20.07% is significantly higher than the industry average of 1.06%. Its trailing-12-month EBITDA margin of 27.34% is 412.2% higher than the industry average of 5.34%. Additionally, its 20.79% trailing-12-month levered FCF margin is considerably higher than the 0.87% industry average.
For the fiscal fourth quarter that ended December 31, 2023, TEVA's net revenues increased 14.7% year-over-year to $4.46 billion. Its non-GAAP operating income was $1.55 billion, up 36.8% from the prior year's quarter.
In addition, non-GAAP net income attributable to TEVA and non-GAAP EPS of $1.13 billion and $1 indicates growth of 43.5% and 40.8% year-over-year, respectively. Its adjusted EBITDA increased 33.9% from the prior year's quarter to $1.66 billion.
For the quarter ended March 31, 2024, TEVA's revenue and EPS are expected to increase 3% and 29.1% year-over-year to $3.77 billion and $0.52, respectively. Over the past nine months, the stock has gained 75.5% to close the last trading session at $13.97.
TEVA's strong fundamentals are reflected in its POWR Ratings. It has an overall rating of A, which equates to a Strong Buy in our proprietary rating system.
It is ranked #10 in the same industry. It has an A grade for Growth and Value and a B for Sentiment. <a href="https://stocknews.com/stock/TEVA/">Click here</a> to see the additional ratings of TEVA for Momentum, Stability, and Quality.
Stock #1: AbbVie Inc. (<a href="https://stocknews.com/stock/ABBV/">ABBV</a>)
ABBV is a global pharmaceutical company known for its diverse portfolio, including medications like Humira, Skyrizi, and Imbruvica, addressing conditions ranging from autoimmune diseases to cancer and neurological disorders.
On March 25, 2024, ABBV announced the agreement to acquire Landos Biopharma, Inc. (<a href="https://stocknews.com/stock/LABP/">LABP</a>) for approximately $137.50 million in cash, with further potential value rights of up to $75 million.
The acquisition will allow ABBV to expand its pipeline of innovative therapies for autoimmune diseases. This strategic move demonstrates ABBV's commitment to investing in cutting-edge research and development within the biopharmaceutical industry.
ABBV's trailing-12-month gross profit margin of 69.21% is 21.5% higher than the industry average of 56.95%. Its trailing-12-month EBITDA margin of 48.53% is 808.9% higher than the industry average of 5.34%. Additionally, its 41.66% trailing-12-month levered FCF margin is significantly higher than the 0.87% industry average.
ABBV reported net revenue of $14.30 billion in the fourth quarter that ended December 31, 2023. The company's operating earnings and net earnings stood at $3.20 billion and $824 million, respectively. Also, its adjusted EPS amounted to $2.79 for the quarter.
Analysts expect ABBV's revenue and EPS for the quarter ending September 30, 2024, to grow 1.5% year-over-year to $14.13 billion. For fiscal 2024, ABBV's revenue and EPS are expected to increase marginally and 1.1% year-over-year to $54.60 billion and $11.23, respectively. Shares of ABBV have gained 25.6% over the past nine months to close the last trading session at $170.14.
It's no surprise that ABBV has an overall A rating, equating to a Strong Buy in our POWR Ratings system.
It has a B grade for Growth, Value, Stability, Sentiment, and Quality. It is ranked #2 in the Medical - Pharmaceuticals industry. Beyond what is stated above, we've also rated ABBV for Momentum. Get all ABBV ratings <a href="https://stocknews.com/stock/ABBV/">here</a>.
What To Do Next?
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<hr />
ABBV shares were trading at $169.51 per share on Wednesday morning, down $0.63 (-0.37%). Year-to-date, ABBV has gained 10.43%, versus a 8.51% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Rashmi Kumari</h2> <img src='https:/wp-content/uploads/2022/10/Rashmi-Kumari_headshot_2-1.jpg' style="float:left; padding:5px;width:125px;">Rashmi is passionate about capital markets, wealth management, and financial regulatory issues, which led her to pursue a career as an investment analyst. With a master's degree in commerce, she aspires to make complex financial matters understandable for individual investors and help them make appropriate investment decisions.<a href="https://stocknews.com/authors/?author=rashmi-kumari">More...</a>The post <a href=https://stocknews.com/news/abbv-teva-rdy-3-pharma-stocks-delivering-exciting-april-returns/>3 Pharma Stocks Delivering Exciting April Returns</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 Pharma Stocks Delivering Exciting April Returns

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