The Hindu Business Line : Dr Reddy’s gearing up to be in global top-10 league

Big plans: Dr K. Anji Reddy (right), Chairman of Dr Reddy's Laboratories, having a word with Dr Rajkumar, President (Research), at the company's 23rd annual general meeting in Hyderabad on Tuesday.

Our Bureau

Hyderabad, July 24 Dr Reddy’s Laboratories Ltd is gearing up to join the league of top 10 generic companies in the world at the earliest.

“We need to set our sights on achievements on a global scale. With the firm foundation that had been laid, we will, in the not too distant future, be able to break into the top 10 generic companies in the world,” Dr K. Anji Reddy, Founder and Chairman, Dr Reddy’s, told the shareholders at its 23rd annual general meeting here on Tuesday.

The firm had also been focusing on the discovery of new molecules in many segments, including biosimilars. “We are the first company in the world to have developed a biosimilar monoclonal antibody, Reditux, for the treatment of some types of cancer. We continue to discover new molecules and are optimistic about the efforts of our scientists,” he said.

The company has a deep pipeline of biosimilars and was well-poised to be one of the leading companies in the biosimilar segment, he said.

The AGM had also approved 75 per cent dividend for 2006-07.

Focus on API

Mr G.V. Prasad, Vice-Chairman and Chief Executive Officer, said during 2007-08, the focus of the company would be on accelerating growth in the Active Pharmaceutical Ingredients (APIs) and finished dosages business.

“We are also taking steps to build a strong innovation business with focus on early commercialisation,” he added.

More Stories on : Outlook | Dr. Reddy's Laboratories Ltd | Pharmaceuticals

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