HYDERABAD, India--(BUSINESS WIRE)--Dr. Reddy’s Laboratories announced that it has realigned its Global Generics finished dosages strategy to focus on certain key geographies and would gradually exit some of the very small distributor driven markets. The markets being exited would have an overall contribution of less than 1% to the topline. In addition to the US, India, Russia & CIS and Germany where the operations are already very large contributing to approx 90% (fig. for 9 months ended Dec 2008) of the Global Generics revenues, the company will continue operations in 10-15 markets wherein the company’s finished dosages sales are growing significantly.
This move represents an important new focus in the Global Generics business to consolidate and grow the Company’s presence in the key geographies where it already has a considerable presence. The exercise would result in reduction of complexity of operations on one hand and help in significantly enhanced customer service and market share on the other.
Outlining the rationale behind this move, Satish Reddy, MD and COO, Dr. Reddy’s said, “We intend to aggressively step up our presence in our key markets with this strategic prioritization. The market prioritization exercise would lead to redeployment of resources within the organization. The company will however continue to scan opportunities and attractiveness of international markets in line with its business strategy.”
About Dr. Reddy’s
Established in 1984, Dr. Reddy’s Laboratories (NYSE:RDY - News) is an emerging global pharmaceutical company with proven research capabilities. The Company is vertically integrated with a presence across the pharmaceutical value chain. It produces finished dosage forms, active pharmaceutical ingredients and biotechnology products and markets them globally, with focus on India, US, Europe and Russia. The Company conducts research in the areas of cancer, diabetes, cardiovascular, inflammation and bacterial infection. For further information please see: www.drreddys.com
Disclaimer
This press release includes forward-looking statements, as defined in the U.S. Private Securities Litigation Reform Act of 1995. We have based these forward-looking statements on our current expectations and projections about future events. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results to differ materially. Such factors include, but are not limited to, changes in local and global economic conditions, our ability to successfully implement our strategy, the market acceptance of and demand for our products, our growth and expansion, technological change and our exposure to market risks. By their nature, these expectations and projections are only estimates and could be materially different from actual results in the future.
