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Dr. Reddy’s Q2 & H1 FY13 Financial Results

Q2 FY13 Revenues at   Rs. 28.8 billion
(YoY growth of 27%)

Q2 FY13 EBITDA at   Rs. 7.7 billion
(YoY growth of 47%)

*Adjusted Q2 FY13 PAT at   Rs. 4.9 billion  
(YoY growth of 77%)

H1 FY13 Revenues at   Rs. 54.2 billion  
(YoY growth of 28%)

H1 FY13 EBITDA at   Rs. 12.7 billion  
(YoY growth of 35%)

**Adjusted H1 FY13 PAT at   Rs. 7.8 billion  
(YoY growth of 56%)

Venus Remedies inks deal with South Korean co.

Venus Remedies has signed a deal with South Korean drug company Goodwills Co Ltd for exclusive marketing of its antibiotic drug ‘Elores'.

The deal was signed after the Companies and Intellectual Property Registration Office (CIPRO) of the Republic of South Korea granted the patent to the product, Panchkula (Haryana)-based Venus Remedies said in a statement today.

“...we are confident that our partnership with Goodwills Korea shall take our research product to its meaningful stage in South Korea. Goodwills will have exclusive marketing rights of the product till the validity of its patent in 2025,” Venus Remedies Chairman and MD Pawan Chaudhary said.

The company, however, did not disclose any financial details of the deal.