Dr. Reddy’s Laboratories (RDY) has publicly refuted claims regarding a significant reduction in workforce expenses. A recent report speculated that the pharmaceutical giant had slashed its employee-related costs by 25%, attributing the move to margin pressures linked to Revlimid. However, the company has denied these allegations, stating that the report is factually incorrect.
The company clarified that there has been no substantial reduction in workforce costs as stated in the report and dismissed any other claims made in the article. Dr. Reddy's emphasized that it does not engage in discussions based on market rumors or speculations. The company further noted that there is no new development or information that mandates disclosure under Regulation 30 of the Securities and Exchange Board of India (SEBI) Listing Regulations.
This statement aims to reassure stakeholders and correct public records amid circulating misinformation. Dr. Reddy’s maintains its policy of transparency and compliance with regulatory requirements, ensuring that any significant corporate actions are communicated appropriately.
