January 25, 2018 / 6:38 AM / 6 months ago

India's Dr. Reddy's Q3 profit tumbles, hit by U.S. pricing pressure

Jan 25 (Reuters) - Indian generic drugmaker Dr. Reddy’s Laboratories Ltd posted a 38.5 percent slump in quarterly net profit as sales declined due to pricing pressure in the United States, its biggest market.

Net profit was 3.03 billion rupees ($47.7 million) in the third quarter ended Dec. 31, compared with 4.92 billion rupees a year earlier, the company said. bit.ly/2BubKli

That compares with an average estimate of 3.4 billion rupees from 13 analysts polled by Thomson Reuters I/B/E/S.

$1 = 63.4900 Indian rupees Reporting by Jessica Kuruthukulangara in Bengaluru; Editing by Edwina Gibbs

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