ManagementDr Reddy's to strengthen domestic biz
Hyderabad-based Dr Reddy’s Labs plans to launch new generic drugs in various therapeutic segments to push domestic operations and get back on the list of top 10 companies in the country. The company, ranked 13th with a 2.7 per cent share in the Rs 55,000-crore domestic pharma market, is working to increase domestic sales.
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The company will launch new products in the domestic market particularly in therapeutic areas like cardiovasculat science, diabetes and dermatology that have a large market share, he said, without specifying details. He also said the company would be focusing on a different region where it doesn’t have a strong presence.
“Our position in the North and Eastern markets is not very good and going forward, we are looking at strengthening our business in these regions,” Reddy said. He said the strategy of focusing on export markets, that accounts for around 85 per cent of its revenues of $1.4 billion, had resulted in slipping market share in the domestic market.
“The slip in ranking is due to the lack of focus in the country’s operations and limited drug launches here,” he said. Dr Reddy’s reported $1.4 billion revnues in 2008-09. Of this, domestic sales were $167 million.