Will achieve $1-billion revenue this year, says Chairman
Bangalore, April 19
Dr Reddy's Laboratories Ltd (DRL) hopes to achieve a revenue of $2.5 billion in the next two to three years, while it would be reaching the $1-billion mark this year.
The Chairman, Dr K. Anji Reddy, said while this was the short-term goal, his ambition is to see his company emerging as the tenth largest pharma company in the world.
Acquisition of a few companies in Germany and Mexico recently would be helping his company to double its topline this year from last year's $500 million, Dr Reddy said. Mergers and acquisitions could greatly benefit the companies on the technology front and give them a competitive advantage over others, he said.
Speaking at a conference on `India Inc Going Abroad Investing and Managing Internationally' organised by the Alumni Association of Indian Institute of Management, Kolkata, here on Wednesday, Dr Reddy said: "unless the motivation was not driven by innovation and passion to excel, acquisition for mere expansion of business alone would not take us anywhere".
Prof Jagdish N. Sheth, Charles H. Kellstadt Professor of Marketing, Goizueta Business School, Atlanta, said Indian companies should have a clear vision and strategy to make their acquisition sustainable. He said it was important that
issues such as integration of businesses and tackling cultural issues should form the basis for the sustainability of acquisitions.
He said in the agri-processed products, India could exploit its low-cost advantage to attract leading retail chains like Walmart.
Prof Sheth said Amul, one of the largest producers of dairy products, could become an important source of supply for the retail chains.