Dr.Reddy's pharmaceuticals: A market study on its foray into the UK and other European market
"Dr. Reddy's Laboratories is India's second largest pharmaceutical companies. Dr. Anji Reddy established it in the year 1984. On 11th April 2001, the company was enlisted on the New York Stock Exchange and became the first Asia-Pacific company (outside Japan) to have its name listed there. The organization has grown out considerably from a bulk drug (API) producer to a pharmaceutical company, which is active globally. With its products like finished dosages, API (Bulk Actives), and biologics which Dr. Reddy's Laboratories produces and sells, the company is active in more than 100 countries. This 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. As a recent achievement in the year 2007, the company has been awarded with the Global HR Excellence Award at the Asia-Pacific HRM Congress recognizing its ability in being extensively innovative in HR Practices. Dr. Reddy's Laboratories has also been awarded with the Best Recruitment and Staffing in class Award and Staffing Organization and Employer Branding Award 2007 for excellent Human Resources administration and recruitment.
The company reported a total profit of 2.63 billion rupees ($59 million) in the first quarter, until June 2011, which was an increase in 2.1 billion rupees since the year. Revenue generated by the company increased by 18 percent to 19.78 billion rupees for the quarter almost equal to what has been estimated to be a net profit of 2.68 billion rupees on revenue of 19.55 billion rupees. On the other hand revenues from Russia and other East European markets increased by 18 percent.
The company started with bulk active business in the 1980s kept on growing. Its acquisitions of Benzex Laboratories Pvt. Ltd., a bulk actives specialist were its move towards boosting its bulk active business globally. The 21st Century saw the company's global achievements with its first overseas takeover in the year 2002. The company spent £9 million to obtain the BMS Laboratories Ltd. and its production and supply subsidiary Meridian Healthcare Ltd., in the United Kingdom. These companies produced oral solids and liquids and had its production facilities in London and Beverley in the UK. This acquisition opened new avenues for the company facilitating its business to expand into the United Kingdom and finally into the European generics market. As a recent development, the company forayed into a research and development and commercialization contract for the treatment of Chronic obstructive pulmonary disease (COPD) with Argenta Discovery Ltd, a private drug manufacturing organization based in the United Kingdom."