Dr Reddys Laboratories Ltd. Watchdog Report ™ RDY (NYSE) | CIK:1135951 | India | SEC llings The new model for duciary analysis Sep 24, 2021 Jan 1, 2020 Jan 1, 2016 RECENT PERIOD HISTORICAL PERIOD Key Facts 20-F led on Jun 30, 2021 for period ending Mar 2021 Business address: Hyperabad, India Reporting Irregularities RECENT HISTORICAL Industry: Pharmaceutical Preparation Manufacturing (NAICS 325412) Financial Restatements SEC ler status: Large Accelerated Filer as of Mar 2021 Revisions Market Cap: $10.8b as of Sep 24, 2021 Annual revenue: $35.3m as of Mar 31, 2021 Out of Period Adjustments
Late Filings Corporate Governance Impairments CEO: Erez Israeli since 2019 CFO: Parag Agarwal since 2020 Changes in Accounting Estimates 1st level Disclosure Controls
Board Chairman: NOT AVAILABLE Internal Controls Audit Committee Chair: NOT AVAILABLE 2nd level Critical / Key Audit Matters
Auditor: Ernst & Young LLP since 2018 Anomalies in the Numbers RECENT HISTORICAL Outside Counsel (most recent): Ulmer & Berne LLP Benford's Law 3rd level Beneish M-Score SEC Reviewer: Sharon M Blume 4th level Accounting Disclosure Complexity Securities & Exchange Commission Concerns RECENT HISTORICAL SEC Oversight
SEC Letters to Management
Revenue Recognition
Non-GAAP Measures Litigation & External Pressures RECENT HISTORICAL Signi cant Litigation
Securities Class Actions
Shareholder Activism
Watchdog Research, Inc., offers both individual and group subscriptions, Cybersecurity data feeds and/or custom company reports to our subscribers. Management Review Subscribe: We have delivered 300,000 public company reports to over RECENT HISTORICAL 27,000 individuals, from over 9,000 investment rms and to 4,000+ public Insider Sales company corporate board members. Pledged Securities
How to analyze this company's Watchdog Mergers & Acquisitions Report? Skip to the last page Sales of Assets
Information in this report is effective Sep 24, 2021 and is taken from the Auditor Assessment RECENT HISTORICAL company's public nancial and regulatory lings. Latest ling 20-F led Auditor Changes 06/30/2021. Over 75 accounting and data analysts scrutinize and review crucial information, footnotes, disclosures, etc., from these lings. Material Auditor Experience facts are captured and processed using our proprietary methods which identify key risk factors our readers need to know. Each Watchdog Report Auditor Tenure represents 30 or more hours of analysis and processing. Audit Fees
Accounting and nancial disclosure data from Audit Analytics. Non-Audit Fees Executive compensation data from Shore Group and Intrinio. Data from Sharadar. Data from Barchart via Quandl. Data from Exchange Data International via Quandl.
Watchdog Research, Inc. • www.watchdogresearch.com • [email protected] • (855) 820-6272 Overview Reporting Irregularities Anomalies in the Numbers SEC Concerns Litigation & External Pressures Management Review Auditor Assessment Peer Group
Overview
Price and Volume History
This graph shows the price and trading history for Dr Reddys. Warning signs and red ags are marked on the graph according to their disclosure dates.
1 Jun 30, 2021 - Critical / Key Audit Matters 20 Jul 12, 2019 - Lawsuit: Celgene Corporation v. Dr Reddys Laboratories Ltd et al
2 Jun 30, 2021 - Critical / Key Audit Matters 21 Jun 3, 2019 - Auditor change
3 Jun 30, 2021 - Critical / Key Audit Matters 22 Feb 13, 2019 - Lawsuit: United HealthCare Services Inc v. Actavis Holdco US Inc et al
4 Jun 30, 2021 - Critical / Key Audit Matters 23 Nov 14, 2018 - Lawsuit: Genzyme Corp et al v. Apotex Corp et al
5 May 24, 2021 - Lawsuit: Bayer Pharma AG et al v. Dr Reddys Laboratories Ltd et al 24 Oct 26, 2018 - Lawsuit: Boehringer Ingelheim Pharmaceuticals Inc et al v. Mankind Pha…
6 Feb 8, 2021 - Lawsuit: Celgene Corporation v. Dr Reddy's Laboratories Ltd et al 25 Sep 25, 2018 - Lawsuit: Marion Diagnostic Center LLC et al v. McKesson Corporation et…
7 Jan 13, 2021 - Lawsuit: Intercept Pharmaceuticals Inc et al v. Dr Reddy's Laboratories I… 26 Aug 24, 2018 - Lawsuit: Amarin Pharma Inc et al v. Dr Reddys Laboratories Inc et al
8 Dec 7, 2020 - Lawsuit: Par Pharmaceutical Inc et al v. Dr Reddy's Laboratories Inc et al 27 Aug 3, 2018 - Lawsuit: Humana Inc v. Actavis Elizabeth LLC et al
9 Oct 22, 2020 - Cybersecurity 28 Jun 26, 2018 - Lawsuit: Amgen Inc v. Sandoz Inc
10 Aug 21, 2020 - Lawsuit: Intercept Pharmaceuticals Inc et al v. Apotex Inc et al 29 Jun 22, 2018 - Lawsuit: Ahold USA Inc et al v. Actavis Holdco US Inc et al
11 Aug 12, 2020 - Lawsuit: Bayer Intellectual Property GMBH et al v. Dr Reddys Laboratorie… 30 May 24, 2018 - Lawsuit: Janssen Products LP et al v. Dr Reddy's Laboratories Inc et al
12 Jun 15, 2020 - Critical / Key Audit Matters 31 Apr 12, 2018 - Lawsuit: Celgene Corporation v. Dr Reddy's Laboratories Ltd et al
13 Jun 15, 2020 - Critical / Key Audit Matters 32 Jan 22, 2018 - Lawsuit: The Kroger Co et al v. Actavis Holdco US Inc et al
14 Jun 15, 2020 - Critical / Key Audit Matters 33 Dec 18, 2017 - Lawsuit: United States of America v. Dr Reddys Laboratories Inc
15 Jun 12, 2020 - Lawsuit: Sano -Aventis US LLC et al v. Apotex Corp et al 34 Dec 18, 2017 - Lawsuit: Onyx Therapeutics Inc v. Dr Reddys Laboratories Inc et al
16 Feb 6, 2020 - Lawsuit: In Re Zantac (Ranitidine) Products Liability Litigation 35 Sep 14, 2017 - Lawsuit: Indivior Inc et al v. Dr Reddy's Laboratories SA et al
17 Oct 7, 2019 - Lawsuit: Mitsubishi Tanabe Pharma Corporation et al v. Dr Reddys Labora… 36 Aug 25, 2017 - Lawsuit: Critchley v. Dr Reddys Laboratories Ltd et al
18 Oct 3, 2019 - Lawsuit: Bristol Myers Squibb Company v. Dr Reddys Laboratories Ltd et al 37 Aug 25, 2017 - Securities Class Actions Lawsuit: Critchley v. Dr Reddys Laboratories Lt…
19 Oct 2, 2019 - Lawsuit: In re Palbociclib Patent Litigation 38 Aug 4, 2017 - Lawsuit: Proton-Pump Inhibitor Products Liability Litigation (No II)
Watchdog Research, Inc. • www.watchdogresearch.com • [email protected] • (855) 820-6272 39 Jul 20, 2017 - Lawsuit: Celgene Corporation v. Dr Reddys Laboratories Ltd et al 46 Oct 20, 2016 - Lawsuit: Celgene Corporation v. Dr Reddys Laboratories Inc
40 Jul 7, 2017 - Lawsuit: Mitsubishi Tanabe Pharma Corporation et al v. Aurobindo Pharma… 47 Sep 22, 2016 - Lawsuit: Amgen Inc v. Amneal Pharmaceuticals et al
41 Apr 5, 2017 - Lawsuit: Bristol Myers Squibb Company et al v. Aurobindo Pharma USA Inc 48 Aug 11, 2016 - Lawsuit: Horizon Pharma Inc et al v. Dr Reddys Laboratories Inc et al
42 Feb 6, 2017 - Lawsuit: Biomarin Pharmaceutical Inc v. Dr Reddys Laboratories Inc et al 49 Aug 5, 2016 - Lawsuit: In Re Generic Pharmaceuticals Pricing Antitrust Litigation
43 Dec 19, 2016 - Lawsuit: In Re Copaxone 775 Patent Litigation 50 Feb 10, 2016 - Lawsuit: Plumbers' Local Union No 690 Health Plan v. Actavis Inc et al
44 Oct 31, 2016 - Lawsuit: Amarin Pharma Inc et al v. Hikma Pharmaceuticals USA Inc et al 51 Feb 5, 2016 - Lawsuit: Eli Lilly & Co v. Dr Reddys Laboratories Ltd et al
45 Oct 24, 2016 - Lawsuit: Onyx Therapeutics Inc v. CIPLA Limited et al
Noti cations
Important noti cations related to the company are listed here. Noti cations may come from the SEC, exchanges such as the NYSE or NASDAQ, or Watchdog Research. Examples of noti cations include announcements of bankruptcy proceedings, company name changes, and noncompliance with SEC regulations or exchange rules.
There are no noti cations for Dr Reddys at least since 2016.
Peer Group
Peer groups are used by companies to benchmark executive compensation and performance. Each company identi es its own peer group. Peer groups vary from company to company.
Peer Group Companies Who Named Dr Reddys as a Peer
Company Ticker Market Cap Company Ticker Market Cap
Dr Reddys Laboratories Ltd. RDY $10.8b Dentsply Sirona Inc. XRAY $13.1b
Sarepta Therapeutics, Inc. * SRPT $7.23b Dr Reddys Laboratories Ltd. RDY $10.8b
Legend Biotech Corp. * LEGN $6.28b
Hutchison China Meditech Ltd. * HCM $5.33b
Neogen Corp. * NEOG $4.58b
Reata Pharmaceuticals Inc. * RETA $3.99b
Arena Pharmaceuticals Inc. * ARNA $3.67b
PTC Therapeutics, Inc. * PTCT $2.77b
Apellis Pharmaceuticals, Inc. * APLS $2.73b
ChemoCentryx, Inc. * CCXI $1.27b
* Suggested by Watchdog.
Watchdog Research, Inc. • www.watchdogresearch.com • [email protected] • (855) 820-6272 Peer Flag Comparison
The return to a company’s stock is not the only measure of executive performance. Ethics matter, and growth can quickly reverse and gains evaporate if a company’s accounting and nancial reporting processes are not fundamentally sound and trustworthy. How does Dr Reddys' accounting quality compare to its peer group?
RDY PEER GROUPFLAGS RDY PEER GROUPFLAGS Reporting Irregularities Litigation & External Pressures
Financial Restatements 9 Signi cant Litigation 3 1 5
Revisions 7 2 Securities Class Actions 4 5
Out of Period Adjustments 9 Shareholder Activism 8 1
Impairments 7 2 Cybersecurity 9
Changes in Accounting Estimates 7 2 Management Review
Disclosure Controls 2 6 1 Insider Sales 3 6
Internal Controls 8 1 Pledged Securities 9
Critical / Key Audit Matters 4 4 Mergers & Acquisitions 8 1
Sales of Assets 9 Anomalies in the Numbers
Benford's Law 3 6 Auditor Assessment
Beneish M-Score 1 4 Auditor Changes 7 1 1
Accounting Disclosure Complexity 1 5 3 Auditor Experience 9
Auditor Tenure 8 1 Securities & Exchange Commission Concerns
SEC Oversight 8 1 Audit Fees 9
SEC Letters to Management 2 7 Non-Audit Fees 5 4
Revenue Recognition 7 2
Non-GAAP Measures 9
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