Dr Reddys flags COVID-19 related uncertainties in FY21
Hyderabad: Though there was no major impact of the COVID-19 pandemic during the last fiscal, Dr Reddy's Laboratories Ltd has said the company may face some uncertainties in the current financial year.
Top officials of the city-based drug maker in the latest annual report said the dependence on China for the supply of intermediates and active pharmaceutical ingredients (API) will change in future as global pharma companies will want to reduce their dependence on that country and there ought to be more backward integration as firms attempt to establish themselves as end-to-end manufacturers.
"Overall, however, there was no major impact of the pandemic on either in Q4 FY2020 or the full year FY2020. Equally, there is no denying that we may face many COVID-19 related uncertainties in FY2021. Let us touch upon a few…, K Satish Reddy, chairman, and GV Prasad, co-chairman and MD, said in their letter to shareholders.
They said if the pandemic continues for another six to eight months as it is expected to, there would be increasing delays in the treatment of other diseases as hospitals and nursing homes all over the world have already begun to push back admission of non-COVID-19 patients.
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