Dr Reddy's Laboratories enters trade generic business in India with new division 'RGenX'

According to an office order, the doctors at central government hospitals, Central Government Health Scheme (CGHS) wellness centres, and polyclinics have been instructed time and again to only prescribe generic medicines.

However, Dr Reddy’s, via ‘RGenX’, 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 added.

"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," said M V Ramana, chief executive officer of India and emerging markets.

In other developments, the United States Food And Drug Administration (US FDA) closed the Good Manufacturing Practises (GMP) inspection of Dr Reddy’s Bollaram Active Pharmaceutical Ingredient (API) manufacturing facility with zero observations, last week. The facility was inspected from June 12-16, 2023.

Last month, the pharmaceutical company reported its Q4 earnings. The company’s margin spiked by 200 basis points to 25.9 percent against 23.9 percent in the same quarter last year. The Board also recommended a final dividend of Rs 40 per share for FY23.