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Hyderabad, July 22 Pharma major Dr Reddy’s Laboratories Ltd is not open for sale, according to Dr K. Anji Reddy, its Founder-Chairman.

“The promoters, the board of directors and the management team are fully committed to the vision of making Dr Reddy’s a global company providing access to affordable and innovative medicines and not for sale of the firm,” Dr Anji Reddy said while addressing the 24th Annual General Body (AGM) meeting of the company held here on Tuesday.

“We however, are open to any kind of collaboration, partnership or alliance that would help realise our vision and in the process create greater share-holder value,” he said.

Referring to the recent Ranbaxy and Daiichi Sankyo deal, he said it represented a transformational event in the Indian pharmaceutical industry.

“We have to accept the fact that the deal is in the interest of their investors, employers and promoters. I am also of the opinion that the entry of an innovative Japanese company into Indian industry would create a research atmosphere in the country,” he said.

The deal was also a clear signal that India is a growing pharmaceutical market as well as fast becoming a base for manufacturing, research and development of pharmaceuticals, he added.

Earlier, responding to media queries on whether anybody was “eying” the Hyderabad-based company for a possible buy, Mr G.V. Prasad, Chief Executive Officer of Dr Reddy’s said there were many. “Many people will eye you if you are attractive. But the question is whether you are available or not,” he quipped.

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

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