Exhibit 99.1
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Dr. Reddy’s Laboratories Ltd. 8-2-337, Road No. 3, Banjara Hills, Hyderabad
- 500 034, Telangana, CIN : L85195TG1984PLC004507
Tel : +91 40 4900 2900 Fax : +91 40 4900 2999 Email : mail@drreddys.com www.drreddys.com |
June 23, 2023
National Stock Exchange of India Ltd. (Scrip Code: DRREDDY-EQ)
BSE Limited (Scrip Code: 500124)
Dear Sirs,
Sub: Press Release
Please find enclosed a press release titled “Dr. Reddy’s enters the trade generics business in India.”
This is for your information.
Thanking you.
Yours faithfully,
For Dr. Reddy’s Laboratories Limited
| /s/ K Randhir Singh | |
| K Randhir Singh | |
| Company Secretary, Compliance Officer and Head-CSR | |
Encl: As above
| CC:- | New York Stock Exchange Inc.(Stock Code :RDY) |
| NSE IFSC Ltd. |
| CONTACT | ||||
| DR. REDDY’S LABORATORIES LTD. | Investor relationS | Media relationS | ||
| 8-2-337, Road No. 3, Banjara Hills, | RICHA PERIWAL | USHA IYER | ||
| Hyderabad - 500034. Telangana, India. | RICHAPERIWAL@DRREDDYS.COM | ushaiyer@drreddys.com | ||
Dr. Reddy’s enters the trade generics business in India
| · | Launches dedicated trade generics division within its India business called ‘RGenX’ |
| · | Will enable company to offer a wider range of products to patients |
| · | The company will reach more patients, in keeping with its objective of serving over 1.5 billion patients by 2030 |
Hyderabad, India; June 23, 2023 – Dr. Reddy’s Laboratories Ltd. (BSE: 500124, NSE: DRREDDY, NYSE: RDY, NSEIFSC: DRREDDY; hereafter referred to as “Dr. Reddy’s”), a global pharmaceutical company, today announced its entry into the trade generics business in India with the launch of its new dedicated division ‘RGenX’. Through this, Dr. Reddy’s aims to provide patients with access to a wider range of products and increased affordability. The new business will further the company’s goal of reaching over 1.5 billion patients by 2030.
Dr. Reddy’s aims to roll out its trade generics across cities and towns in India, including rural areas. The company will work closely with its channel partners to ensure availability of its products.
M.V. Ramana, Chief Executive Officer, India and Emerging Markets, said: “India is a key focus market for us. Today’s announcement is a continuation of our effort to build a well-rounded business in India. We continue to strengthen our branded generics business in India by growing brands, new product launches, productivity enhancement through digital and analytics, and select strategic acquisitions. We are exploring strategic collaborations in India, and investing in innovative healthcare spaces that we see as future growth drivers. This foray into trade generics will add to our reach and depth by making high-quality medicines of Dr. Reddy’s accessible to more patients around the country in keeping with our purpose of ‘Good Health Can’t Wait’.”
About Dr. Reddy’s: Dr. Reddy’s Laboratories Ltd. (BSE: 500124, NSE: DRREDDY, NYSE: RDY, NSEIFSC: DRREDDY) is a global pharmaceutical company headquartered in Hyderabad, India. Established in 1984, we are committed to providing access to affordable and innovative medicines. Driven by our purpose of ‘Good Health Can’t Wait’, we offer a portfolio of products and services including APIs, generics, branded generics, biosimilars and OTC. Our major therapeutic areas of focus are gastrointestinal, cardiovascular, diabetology, oncology, pain management and dermatology. Our major markets include – USA, India, Russia & CIS countries, China, Brazil and Europe. As a company with a history of deep science that has led to several industry firsts, we continue to plan ahead and invest in businesses of the future. As an early adopter of sustainability and ESG actions, we released our first Sustainability Report in 2004. Our current ESG goals aim to set the bar high in environmental stewardship; access and affordability for patients; diversity; and governance. For more information, log on to: www.drreddys.com.
| CONTACT | ||||
| DR. REDDY’S LABORATORIES LTD. | Investor relationS | Media relationS | ||
| 8-2-337, Road No. 3, Banjara Hills, | RICHA PERIWAL | USHA IYER | ||
| Hyderabad - 500034. Telangana, India. | RICHAPERIWAL@DRREDDYS.COM | ushaiyer@drreddys.com | ||
Disclaimer: This press release may include statements of future expectations and other forward-looking statements that are based on the management’s current views and assumptions and involve known or unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. In addition to statements which are forward-looking by reason of context, the words "may", "will", "should", "expects", "plans", "intends", "anticipates", "believes", "estimates", "predicts", "potential", or "continue" and similar expressions identify forward-looking statements. Actual results, performance or events may differ materially from those in such statements due to without limitation, (i) general economic conditions such as performance of financial markets, credit defaults , currency exchange rates, interest rates, persistency levels and frequency / severity of insured loss events, (ii) mortality and morbidity levels and trends, (iii) changing levels of competition and general competitive factors, (iv) changes in laws and regulations and in the policies of central banks and/or governments, (v) the impact of acquisitions or reorganization, including related integration issues, and (vi) the susceptibility of our industry and the markets addressed by our, and our customers’, products and services to economic downturns as a result of natural disasters, epidemics, pandemics or other widespread illness, including coronavirus (or COVID-19), and (vii) other risks and uncertainties identified in our public filings with the Securities and Exchange Commission, including those listed under the "Risk Factors" and "Forward-Looking Statements" sections of our Annual Report on Form 20-F for the year ended March 31, 2023. The company assumes no obligation to update any information contained herein.
