Dr Reddy’s dials up focus on India, eyes licensing, collaborations, buyouts
In an interview with CNBC-TV18, Erez Israeli, the CEO of Dr Reddy's Laboratories, talked about the company's strategic focus on expanding its presence in India through inorganic growth, emphasizing collaborations and licensing agreements. This approach includes partnering with innovators from outside India to elevate the healthcare standards in the country.
Dr Reddy's Laboratories (DRL), a prominent name in the global pharmaceutical industry, is setting its sights on an ambitious expansion in India. As part of the expansion, the company will prioritise licensing and collaborations to bolster its presence in the Indian market and diversify its portfolio with new products.
In an interview with CNBC-TV18, Erez Israeli, the CEO of Dr Reddy's Laboratories said the approach is to partner with innovators from outside India to elevate the healthcare standards in the country.
“We are doing inorganic in India, not just in terms of acquisitions, but also collaborations, licensing and actually most of the costs will come from collaborations with innovators outside of India in order to bring their standard of care to India,” he said.
Israeli highlighted the commitment to inorganic growth in India, which extends beyond acquisitions to encompass valuable collaborations and licensing deals.
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DRL has already inked several significant deals to bolster its India-focused initiatives.
Israeli pointed out that most of their growth in the US was driven by the base business. Other products in the US market witnessed good volume growth in the second quarter, and the extent of price erosion in the US was moderate.
On Friday, October 27, the pharma major announced a 33% year-on-year (YoY) increase in its combined net profit to ₹1,480 crore for the quarter ending September 2023.
The Q2 earnings were boosted by a 13% increase in sales in the United States and a 26% growth in Europe, compensating for the modest gains in the local market.
For more details, watch the accompanying video
(Edited by : Shweta Mungre)
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