News

Published: June 24, 2023
Updated: June 24, 2023

Dr Reddy's Laboratories Expands Presence with Trade Generics Business Launch

Dr Reddy's Laboratories, a leading pharmaceutical company, has made a significant move by entering the trade generics business in India. With the launch of its dedicated division, 'RGenX,' the company aims to provide a broader range of affordable products to patients across the country. This strategic expansion aligns with Dr Reddy's goal of reaching over 1.5 billion patients by 2030.

Expansion into Trade Generics Business:

Dr Reddy's Laboratories shares surged 2.35% as the company announced its entry into the trade generics segment. The stock reached a high of Rs 5015 on the BSE, with a trading volume nearly six times the average two-week volume. This move reflects the market's positive response to the company's expansion strategy.

Enhancing Access and Affordability:

By venturing into trade generics, Dr Reddy's Labs aims to improve patient access and affordability. The company plans to roll out its trade generics across various cities, towns, and even rural areas in India. Collaborating closely with its channel partners, Dr Reddy's will ensure the widespread availability of its products.

Strategic Focus on India Market:

Dr Reddy's Laboratories considers India as a key focus market. The launch of the trade generics division is part of the company's efforts to build a comprehensive business presence in India. This expansion encompasses growing brands, introducing new products, leveraging digital and analytics for productivity enhancement, and pursuing strategic acquisitions. Dr Reddy's also emphasises exploring collaborations and investing in innovative healthcare areas for future growth.

CEO's Perspective:

According to MV Ramana, Chief Executive Officer for India and Emerging Markets, the foray into trade generics reinforces Dr Reddy's commitment to reaching a wider patient base. By making high-quality medicines more accessible, the company aims to extend its reach and depth throughout the country. The trade generics business represents another significant step towards building a well-rounded presence in India.

Aim to provide healthcare solutions to a broader customer base:

Dr Reddy's Laboratories' entry into the trade generics business marks an important milestone in the company's growth strategy. With a focus on enhancing patient access and affordability, Dr Reddy's aims to cater to a larger population in India. The positive market response to this expansion demonstrates the confidence in the company's ability to provide quality healthcare solutions to a broader customer base.