Pharma major Dr Reddy's Laboratories Ltd is aiming at a revenue of $1 billion from the sale of branded generics in next three years, according to its Founder-Chairman, Dr K. Anji Reddy.
Speaking at the inaugural session of a national conference on ‘Regulatory challenges - Global pharmaceutical larket', Dr Reddy said his company was selling $430 million worth generics globally out of a turnover of Rs 7,000 crore.
“While analysing our global generics segment recently, I have told our people that we want to sell a billion dollar worth of generics in next three years,'' Dr Reddy said.
The Hyderabad-based company's flagship brand, Omez, alone brings in Rs 700 crore out of Rs 2,000 crore, he said.
DISCOVERY
On the drug discovery, Dr Reddy said that the company was dubbed by some as ‘copy cat'. “But, we had provided drugs at ridiculously lower prices. Our next step is drug discovery,'' he said.
The company had made a mark in biologics segment by launching country's first monoclonal antibody at one-third of its global price three years ago, he added.
Observing that there was ‘huge' potential in clinical development segment, he said it could be done in India at Rs 100 crore for a molecule compared to Rs 2,000 crore outside.