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Our Bureau

Hyderabad, Dec. 3

Dr Reddy’s Laboratories has won contracts for supply of seven active pharmaceutical ingredients (APIs) to Germany.

Out of the 44 bids for the over $3.5 billion sick fund tender in Germany, whose results were declared, Dr Reddy’s won seven bids. Dr Reddy’s had bid for 33 drugs, according to sources in the company.

The tender, the first Europe-wide tender by Germany’s largest health insurance fund Allgemeine Ortskrankenkasse (AOK), is for generic procurement contracts for 64 APIs.

“We are bidding for the tender and optimistic about the result. It will make a big difference to us in the European revenues, in particular, and global revenues, in general,” Mr Saumen Chakraborti, Chief Financial Officer, Dr Reddy’s Laboratories Ltd, had told Business Line here recently.

The Hyderabad-based pharma major had put in its bid for 48 out of the 64 generic APIs. It is still in the race for the balance 20 bids, with 15 of its own.

The timeline for the supply of the APIs to the five regions of Germany, for which the company has won contracts, will begin in March 2009 and has to be completed in two years.

The development is important for Betapharm, Dr Reddy’s subsidiary, which has been struggling in recent times.

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

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