Dr. Reddy's Laboratories Limited RDY reported first-quarter fiscal 2023 earnings of 90 cents per American Depositary Share compared with 43 cents (excluding impairment charges) reported in the year-ago quarter.In first-quarter fiscal 2023, revenues grew 6% year over year to $660 million.Shares of the company have decreased 20% in the year compared with the industry’s decline of 23.7%.Image Source: Zacks Investment ResearchQuarter in DetailDr. Reddy’s reports revenues under three segments — Global Generics; Pharmaceutical Services & Active Ingredients (“PSAI”); and Proprietary Products and Others.Global Generics revenues were INR 44.3 billion, up 8% year over year, in the fiscal first quarter. Growth was led by new product launches across businesses and the divestment of a few non-core brands in India.The company launched seven products in North America, including Ketorolac, OTC Nicotine Lozenges Original, Methylprednisolone Sodium Succinate, Pemetrexed Injection, Posaconazole Tabs and Sorafenib in the US, and Pemetrexed injection in CanadaAs of Jun 30, cumulatively, 86 generic filings were pending approval from the FDA (83 abbreviated New Drug Applications [ANDAs] and three new drug applications). Of these 86 ANDAs, 44 are Para IVs and 24 have first-to-file status.PSAI revenues were INR 7.1 billion, down 6% from the year-ago quarter, primarily due to a higher base that took place in first-quarter fiscal 2022 with covid product sales.Revenues in the other segment came in at INR 740 million, up 37% year over year.Research and development expenses were down 5% year over year to $55 million. The company is focused on building a global pipeline of new products across its markets.Selling, general and administrative expenses were $196 million, up 3% year over year, primarily owing to investments in the marketing of some key brands and investments in digitalization and annual increment.Our TakeIn first-quarter fiscal 2023, Dr. Reddy’s top line and bottom line both registered year-over-year growth.However, the company continues to face price erosion in the North American generics market, which will adversely impact sales.Zacks Rank & Stocks to ConsiderDr. Reddy's currently carries a Zacks Rank #3 (Hold). Better-ranked stocks in the biotech sector include Beam Therapeutics Inc. BEAM, Atara Biotherapeutics, Inc. ATRA and Precision BioSciences, Inc. DTIL, all sporting a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Beam Therapeutics’ loss per share estimates narrowed 0.7% for 2022 and 0.8% for 2023 in the past 60 days.Earnings of Beam Therapeutics have surpassed estimates in three of the trailing four quarters and missed the same on the remaining occasion. BEAM delivered an earnings surprise of 1.80%, on average.Atara Biotherapeutics’ loss per share estimates narrowed 0.6% for 2022 and 13.3% for 2023 in the past 60 days.Earnings of Atara Biotherapeutics have surpassed estimates in two of the trailing four quarters and missed the same on the other two occasions. ATRA delivered an earnings surprise of -12.51%, on average.Precision BioSciences’ loss per share estimates narrowed 5.8% for 2022 and 16.2% for 2023 in the past 60 days.Earnings of Precision BioSciences have surpassed estimates in each of the trailing four quarters. DTIL delivered an earnings surprise of 76.15%, on average. 7 Best Stocks for the Next 30 Days Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops." Since 1988, the full list has beaten the market more than 2X over with an average gain of +24.8% per year. So be sure to give these hand-picked 7 your immediate attention. See them now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Dr. Reddy's Laboratories Ltd (RDY): Free Stock Analysis Report Beam Therapeutics Inc. (BEAM): Free Stock Analysis Report Atara Biotherapeutics, Inc. (ATRA): Free Stock Analysis Report Precision BioSciences, Inc. (DTIL): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research