Dr. Reddy's Lab to focus on biogenerics market

By Our Staff Reporter

HYDERABAD, SEPT. 2. The biotechnology business of Dr. Reddy's Laboratories is expected to make its first contribution in the full year 2002 through the launch of its products. The strategy would be to focus on leveraging core competencies across the chain from product development to commercialisation.

The custom chemical synthesis business will also make its maiden contribution in 2002. The strategy here is to be the preferred partner for innovator companies and become a one-stop solution provider for the chemical outsourcing needs of innovator companies, according to the directors report.

The company's biotechnology business covers therapeutics, vaccines, and diagnostics. Dr. Reddy's has built up core competencies in recombinant proteins technology platform, to develop capabilities in manufacturing.It has also identified biogenerics as a significant market area. It is setting up production facilities to meet US FDA specifications, which includes three class 10,000 bulk recombinant protein production suites and a new formulations facility. For 2001-02, the business outlook is weighed more in favour of exports (in overall domestic-export mix).

In his message to the shareholders, Dr. Anji Reddy, Chairman, says that with several more products under development, the company aims to tap the lucrative biogenerics markets in developed countries. With products worth about $53 billion set to go off-patent by 2008, the generics formulation market will expand significantly. The bulk actives market also holds a promise of large volumes and growth, he says.

The 17th annual general meeting of the company is scheduled to be held on September 24 here.

Send this article to Friends by E-Mail

Section  : Business
Previous : Bearish trend on Lyons Range
Next     : LIC announces bonus for policyholders