Dr. Reddy’s Denies Report Of Cut In Workforce Costs

Pharmaceutical major Dr Reddy’s Laboratories on Monday dismissed a media report claiming it had reduced workforce costs by 25% due to margin pressure linked to its generic Revlimid. The company said the report, published by the Business Standard on Sunday, was incorrect.

In a stock exchange filing, the drugmaker said it “categorically denies” the claims, including the reported workforce cost cut. The company clarified that it does not comment on market speculation and that there is currently no event or development requiring disclosure under SEBI’s listing regulations.

Dr. Reddy’s said it remains committed to disclosing material events as and when they occur.

Today, shares of Dr. Reddy’s Laboratories ended at ₹1,156.60, up 4% from Friday’s close. Financial markets remained closed on Monday due to Ambedkar Jayanti.