Hyderabad: Hyderabad-based pharmaceuticals company, Dr Reddy’s Laboratories, which has achieved 92 per cent growth in its net profit during the fiscal 2019 compared to the previous year and 44 per cent jump in the fourth quarter of 2019 compared to the corresponding quarter last year, is keen to ramp up its manufacturing capabilities. The company will explore setting up a unit in Pharma City.
Dr Reddy’s CEO and co-chairman, G V Prasad told Telangana Today, “Over the time, we want to modernise our existing facilities. We had been selling few old facilities. Overall, at some point, in the next couple of years, when Pharma City opens up, we are examining to build a modern facility there and phase out some of our older facilities.”
The company is looking at improving overall productivity by rationalising both research and development and production in the coming years.
When asked if Dr Reddy’s is working with startups in the life-sciences space, Pasad informed, the company is giving work related to big data and machine learning to startups. “Some point, we thought Dr Reddy’s will also invest into startups, but since the global pharmaceutical market has become challenging in the last two years, we started focusing on the core business. However, I and Satish Reddy (chairman, Dr Reddy’s) invest in startups in personal capacity.”
On the potential future acquisitions as a part of the company’s inorganic growth, he said, “We do have a merger and acquisition strategy. We have the key major markets- India, Russia and China, where we keep looking for acquisition opportunities that will help us further deepen our presence. In the US, we could mostly look at acquiring Abbreviated New Drug Applications (ANDAs) but not companies, going by our US strategy.”
The company plans to roll out more than 20 products in 2019-20 and is building a robust drug pipeline.