Dr.Reddy's pharmaceuticals: An analysis of the companys business and on being the largest drug manufacturer in the US market
"Dr. Reddy's Laboratories was founded in the year 1984 with the idea of becoming a global pharmaceutical organization. It is an organization that is insistently focused on the immediate transformation of scientific findings and innovations into inventive products, which helps in bringing about a noteworthy change in human lives. The company established by Dr. Anji Reddy manufactured and sold products like finished dosages, API (Bulk Actives), and biologics and is active in more than 100 countries. The company's present progress is due to its persistent quality, increasing innovation, incessant knowledge, joint effort of the employees, and social accountability rooted as the company's foundation. The company, in addition to being the largest producer and manufacturer of drugs in the local market, is also equally active in the international market.
The company generated revenues worth $1.67 billion in the year 2011 with a net income of $248 million in the year 2010. Today the main competitors of the company are RPG Enterprises, GlaxoSmithKline Consumer Healthcare Ltd., East India Pharmaceutical Works Ltd., Cipla Ltd., Concept Pharmaceuticals Ltd., Khandelwal Laboratories Ltd. and Dabur India Ltd. The year 2011 saw considerable growth in the US market. Revenues generated in the North America improved by 13%, which calculated to be 18,996M and an increase in 16,817 millions since the last year (2009-10). A noteworthy part of this progress was contributed by the company's eleven new products, which were introduced in the US market in the year 2010-11. Reports predicts that in the year 2011, the US market is likely to develop by 3% to 5%, i.e. by US$ 320 to US$ 330 billion an increase in the growth achieved 2010.
The company started with bulk active business in the 1980s and kept on progressing both in the home ground as well as internationally. In the year 1994, Reddy entered into the US generic market. His interest in research and development field prompted him to establish a research lab in Atlanta, US. This initiative focused on areas like anti- cancer, anti- diabetes drugs. The next important step of the company was a transition from API and bulk drug supplier in the US and UK markets to generics by putting forward an Abbreviated New Drug Application (ANDA) in the USA. The year 2000 saw the company first commercial introduction of a generic product in the US market. The company kept on growing with various acquisitions one of which was the takeover of the American Remedies Limited, based in Chennai. The company's was soon enlisted in the New York Stock Exchange in the year 2001 which made it the first Asian pharmaceutical company outside of Japan to occupy a position in the list. "