Shares of Dr. Reddy’s Laboratories dropped 4.4% on Thursday after several brokerages revised their earnings outlooks downward for the Indian pharmaceutical company, citing weaker-than-anticipated quarterly performance and disruptions in the supply of semaglutide.
The company’s stock fell to 1,130 rupees per share, marking its lowest trading price in more than a year. Dr. Reddy’s was the biggest decliner on both the pharma index and the Nifty 50 on that trading day.
