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HYDERABAD, India — Indian drug maker Dr. Reddy's Labs had sales of $536 million in second-quarter 2014 and profits of $110 million, the company said.
Those figures represented sales growth of 17% and a 76% growth in profits over second quarter 2013. Seventy-nine percent of the company's sales came from generic drugs, including 50% from sales in North America; sales of generics grew by 32% over last year.
During the quarter, the company filed four applications for new generics with the Food and Drug Administration, and it currently has 62 applications pending, of which 39 contain challenges to branded drug patents, and nine are potential "first-to-file" drugs for which the company would get 180 days in which to compete exclusively against the branded versions of the drugs upon FDA approval.