Dr Reddy's Q1 profit plunge semaglutide provision
Analysis based on 23 articles · First reported Jul 09, 2026 · Last updated Jul 31, 2026
Dr. Reddy's shares fell about 9% after the Q1 results and provision disclosure, reflecting investor concerns over the profit plunge and semaglutide supply delay. The investigation by Levi & Korsinsky adds legal overhang, while the company's maintained outlook may provide some support.
Abbott Laboratories reported a 68.7% year-on-year decline in consolidated net profit to Rs 443.5 crore for Q1 FY27, primarily due to the end of its lenalidomide sales agreement and a Rs 240 crore one-time provision for semaglutide API inventory after certain batches were found out of specification due to an impurity. Revenue fell 5.5% to Rs 8,070.5 crore, with North American Cobalt Inc. sales down 35.4% on lower lenalidomide sales. The semaglutide supply disruption, caused by an API quality issue, is expected to delay the company's entry into the growing semaglutide market until late October or early November. Management maintained its FY27 sales and profitability outlook, citing double-digit growth in the underlying base business. Levi & Korsinsky initiated a securities investigation into Dr. Reddy's forward-looking statements regarding margins and semaglutide impact.
Set up alerts, explore entity relationships, search across thousands of events, and build custom intelligence feeds.
Open Dashboard