Dr Reddy’s to strengthen domestic biz, eyes top 10 spot
The Hyderabad-based Dr Reddy’s Labs is planning to launch new generic drugs in various therapeutic segments to give a push to its domestic operations and get back to among the top ten firms in the country.
Hyderabad: The Hyderabad-based Dr Reddy’s Labs is planning to launch new generic drugs in various therapeutic segments to give a push to its domestic operations and get back to among the top ten firms in the country.
The firm, which is currently ranked 13th with a 2.7 per cent share in the Rs. 55,000—crore domestic pharma market, is working to increase the domestic sales.
“We were among the top 10 domestic pharma companies a few years ago and we expect to be back there,” Dr Reddy’s Laboratories chief operating officer Satish Reddy, said.
The company will launch new products in the domestic market particularly in therapeutic areas like cardiovascular, diabetes and dermatology that have a larger market share, he said without specifying details. He also said the company will be focusing on different regions where it doesn’t have a strong presence.
“Our position in the North and Eastern markets is not very good and going forward, we are looking at strengthening our business in these regions,” Mr. Reddy said.
He said the strategy of focusing on export markets, that account for around 85 per cent of its revenues of USD 1.4 billion, had resulted in a slipping market share in the domestic market.
“The slip in ranking is due to the management’s lack of focus in the country’s operations and limited drug launches here,” he said.