The Hindu Business Line : $1.5-b revenue lifts Dr Reddy's to the top slot

Hyderabad May 18 Dr Reddy's Laboratories Ltd has emerged as the country's top pharma company, overtaking Ranbaxy Laboratories, with its turnover crossing a landmark $1.5-billion for the financial year 2006-07.

The total revenues of the Hyderabad-based pharma major stood at $1,510 million ($563 million) for 2006-07, marking a 168 per cent growth. "This performance has made us the number one pharmaceutical company in the country in revenue terms," Mr K. Satish Reddy, Managing Director, Dr Reddy's Labs, told presspersons here on Friday.

"Strong contribution from the core business and acquisitions from Germany and Mexico were key drivers of growth. The acquisitions proved beneficial as the revenue from Betapharm in Germany and Roche's API business in Mexico pooled in 21 per cent of total revenues," he said.

Further, the 180-day exclusivity on Ondenesetron contributed 4 per cent of total sales.

"Besides, there has been significant ramp up in generic sales in the US to Rs 491 crore from Rs 161 crore in the previous year," Mr Reddy said.

In a significant move, Dr Reddy's also decided to move all the manufacturing activity from Europe to India. "All the top 10 products in Europe would be manufactured in India. The first Betapharm product would be manufactured and released in July," said Mr G.V. Prasad, Vice-Chairman and CEO.

The Founder-Chairman, Dr K. Anji Reddy, said the company had come of age in its 22 years of existence. "For the next 12 months, we are number one in the country. Though only 14 per cent of our revenues come from India, we continue to focus on bringing the prices down for Indian poor," he said.

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