Dr Reddy's stock sheds 4% as Sputnik V pricing, competition weigh

The Dr Reddy’s Laboratories stock declined over 4 per cent on Tuesday over the lack of clarity on the pricing of the Sputnik V Covid-19 vaccine, its international sales, and concerns of increased competition. While the emergency use authorisation for Sputnik and initial offtake are positives, the Street is divided on the overall gains for Dr Reddy’s, which has the distribution rights for the first 250 million doses in India.  Analysts at Citi Research believe that the vaccine can generate $200 million worth of operating profit in an optimistic scenario, but the upside co.....

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