Dr Reddys Laboratories Ltd - (DRREDDY)

Dr Reddys Laboratories Ltd is an integrated global pharmaceutical company, committed to providing affordable and innovative medicines for healthier lives. The company offers a portfolio of products and services including Active Pharmaceutical Ingredients (APIs), Custom Pharmaceutical Services (CPS), generics, biosimilars, differentiated formulations and News Chemical Entities (NCEs) through their three businesses - Pharmaceutical Services and Active Ingredients, Global Generics and Proprietary Products. Their Therapeutic focus is on gastro-intestinal, cardiovascular, diabetology, oncology, pain management, anti-infective and paediatrics. Their major markets include India, USA, Russia and CIS, Germany, UK, Venezuela, S. Africa, Romania, and New Zealand.Dr Reddys Laboratories was incorporated in the year 1984 in Hyderabad. The company was established by Dr Anji Reddy with an initial capital outlay of Rs 25 lakh. The company made their beginning with the manufacture of Active Pharmaceutical Ingredients and Intermediates (API) and commenced operations with a single drug in a 60-tonne facility near Hyderabad, India. In the year 1986, the company shares were listed on the Bombay Stock Exchange. Also, they entered international market with exports of Methyldopa.In the year 1987, the company obtained first USFDA approval for Ibuprofen API. In the year 1988, they acquired Benzex Laboratories Pvt Ltd to expand their Bulk Actives business. In the year 1990, they exported Norfloxacin and Ciprofloxacin to Europe and Far East. In the year 1991, they commenced formulation exports to Russia.In the year 1993, the company established Dr. Reddys Research Foundation and initiated drug discovery programme. In the year 1994, they finished dosages facility established to cater to highly regulated markets such as the US. In the year 1995, the company set up joint venture in Russia. In the year 1997, they filled first ANDA with the United States Food and Drug Administration for Ranitidine. In the year 1999, the company acquired American Remedies Ltd, a pharmaceutical company based in India. In the year 2000, Cheminor Drugs Ltd, a group company merged with the company and thus the company became Indias third largest pharma company. In the year 2001, the company launched Fluoxetine capsules. They became the first Indian company to win 180-day exclusivity for a generic drug in the US. Also, they launched their first generic product, Ranitidine, in the US market.In the year 2002, the company made their first overseas acquisition of BMS Laboratories Limited and Meridian Healthcare in UK. In the year 2003, they launched Ibuprofen, first generic product to be marketed under the Dr. Reddys label in the US. In the year 2005, they acquired Roches API Business at its manufacturing site in Mexico. In the year 2006, the company acquired Betapharm the fourth largest generics company in Germany for a total enterprise value of Rs 480 million. In the year 2007, the company launched Reditux - the worlds first biosimilar MAb - for the treatment of Non Hodgkins Lymphoma. Also, they became Indias leading and most profitable pharmaceutical company.During the year 2008-09, the company acquired DowPharmas small molecules business in UK under Chirotech Technology Ltd, BASF Corporations manufacturing facility at Shreveport in Louisiana, USA under Dr. Reddys Laboratories Louisiana LLC and Jet Generici SRL, a company engaged in the sale of generic finished dosages in Italy. In addition, Perlecan Pharma Pvt Ltd, Macred India Pvt Ltd and Dr. Reddys Laboratories ILAC Ticaret also became subsidiary of the company.During the year 2009-10, Dr. Reddys Pharma SEZ Ltd was incorporated as a wholly-owned subsidiary of the company for the purpose of formulation manufacturing at Special Economic Zone and Perlecan Pharma Pvt Ltd was amalgamated with the company. Further, the company acquired the balance stake of 30% in Dr. Reddys (Australia) Pty Ltd. The company filed 12 Abbreviated New Drug Applications (ANDAs) in US including six Para IV filing during the year.During the year 2010-11, the company acquired GlaxoSmithKlines (GSK) oral penicillin manufacturing facility located in Tennessee, USA. This allows the company to enter theUS penicillin-containing antibacterial market segment through brands such as Augmentin and Amoxil, and serve the needs of customers through manufacturing and other capabilities that did not previously exist within the company. Also, they increased the stake in the South African joint venture company to 100% after acquiring the 40% stake of the partner.During the year, the company launched Cresp in India, the first biosimilar darbepoetin alfa in the world. In March 2011, they launched Peg-grafeelTM in India in the form of an affordable pegfilgrastim, which is used to stimulate the bone marrow to produce more neutrophils to fight infection in patients undergoing chemotherapy. Peg-grafeelTMDuring the year, Idea2Enterprises (India) Pvt Ltd, Dr. Reddys Laboratories Romania SRL, I-Ven Pharma Capital Ltd, Dr. Reddys Laboratories Tennessee LLC and Dr. Reddys Venezuela C.A. became wholly-owned subsidiaries of the company. Further, Dr. Reddys Laboratories (Proprietary) Ltd also became wholly-owned subsidiary by virtue of purchase of its balance 40% stake by the company. Also, Macred India Pvt Ltd ceased to be a subsidiary of the company.