Dr. Reddys

Dr. Reddy’s Laboratories (DRL) success is in part due to Dr. Anji Reddy’s ability to capitalize on opportunity. DRL had humble begins as a manufacturer of bulk actives. It was through Dr. Reddy’s pioneering efforts that DRL expanded to world markets which resulted in DRL becoming a pharmaceutical powerhouse. (See exhibit 1 )

Exhibit 1 Dr Reddy’s Signficant Events. Source Ask.com

• 1984: Dr. Anji Reddy founds Dr. Reddy's Laboratories, based on a bulk actives business he had founded in the 1970s, in order to extend into the production of drug formulations.

• 1986: Dr. Reddy's goes public on the Bombay stock exchange.

• 1988: The company acquires Benzex Laboratories in order to expand the bulk actives business.

• 1992: Dr. Reddy's Research Foundation is founded as part of the strategy to enter drug development.

• 1994: The company opens a subsidiary in the United States.

• 1995: The company files its first patent for an in-house developed drug.

• 1999: The company acquires American Remedies Ltd.

• 2000: The company acquires Cheminor Drugs Limited and becomes the third largest Indian drug company.

• 2001: The company lists shares on the New York Stock Exchange; a new research and development facility opens in Atlanta, Georgia.

• 2002: The company acquires BMS Laboratories Ltd. and its marketing and distribution subsidiary Meridian Healthcare Ltd. in the United Kingdom.

• 2003: The company gains tentative approval to market generic versions of Serzone, developed by Bristol Myers Squibb

In the 1970s Reddy was one of the first to take advantage of the new Indian laws regarding pharmaceutical patents and began producing copies of patented drugs. Reddy quickly moved from the manufacturing of bulk actives to the production of its own brand formulations. Dr. Reddy recognized that the international market would provide the greatest stream of revenue. He targeted countries with less regulated markets and then moved to larger markets in Russia, China, Brazil and...