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Dr Reddy's Laboratories Generics Company Intelligence Report
Espicom Business Intelligence Ltd, March 2009, Pages: 20
Dr Reddy’s is the second largest pharmaceutical manufacturer in India, behind Ranbaxy. The company sells APIs, branded drugs and generics. Most of its branded drugs are copies of drugs patented in the West, but not in India.
The company’s current best selling active pharmaceutical ingredients include finasteride, with sales worth Rs952 million, ramipril, with sales worth Rs933 million, and ciprofloxacin, with sales worth Rs818 million. Sales of olanzapine were also fruitful in the latest fiscal year, rising by 359% to Rs721 million.
Dr Reddy’s is also represented in Western Europe, Russia and Asia. In 2002, the company made its first overseas acquisitions, both in the UK. In November 2005, Dr Reddy’s announced it had signed a definitive agreement to acquire Roche’s API business in Cuernavaca, Mexico. In March 2006, Dr Reddy’s completed its purchase of the German generic pharmaceutical firm, betapharm, from 3i, in a deal worth 480 million euros in cash. In 2007, the company announced that it was making the UK its European headquarters.
In April 2008, Dr Reddy’s agreed to acquire BASF’s pharmaceutical contract manufacturing business and related facility in Shreveport, Louisiana. During the same period, Dow Chemical finalised the sale of its Dowpharma Small Molecules business associated with its UK sites to Dr Reddy’s. Dr Reddy’s also acquired the Pisa, Italy-based Jet Generici.
In March 2009, Dr Reddy’s announced that it had realigned its Global Generics finished dosages strategy to focus on certain key countries and gradually exit some of the smaller markets. The company will remain in the US, India, Russia and the CIS, and Germany, along with another ten to 15 markets. At the same time, the firm announced that it had crossed the US$150 million milestone of revenues in Russia and the CIS region for FY2009.
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