HSBC has reiterated its buy rating on Dr. Reddy’s Laboratories with a target price of ₹1,430 per share, stating that the company’s near-term and long-term growth drivers remain firmly on track. The brokerage said the opportunity for generic semaglutide in Canada continues to be intact, with Dr. Reddy’s having already responded to Health Canada’s outstanding queries on its application. Approval of the drug — a key therapy in the fast-expanding GLP-1 category — would serve as a meaningful catalyst for earnings and sentiment, HSBC noted.
The brokerage highlighted that GLP-1 drugs remain a strategic focus for Dr. Reddy’s, and management continues to make steady progress across multiple initiatives aimed at strengthening long-duration growth engines. HSBC added that the company’s pipeline visibility and execution in complex generics, biosimilars and specialty products positions it well to deliver sustained growth over the coming years. Regulatory clearance for semaglutide in Canada would not only boost financial performance but also reinforce the company’s credibility in high-value opportunities globally.
Disclaimer: The views and recommendations above are those of HSBC. Business Upturn does not endorse them. Please consult a financial advisor before making investment decisions.
