Company was incorporated on 2nd November 1985. Dr. K. Anji Reddy and his associates promoted company. Company established a subsidiary named "Dr. Reddy's Diagnostics Ltd." for the manufacture of diagnostics kits. Company also formed a joint venture "Reddy Biomed Ltd." with a Russian company for manufacturing and marketing formulation in Russia. It's diagnostics division has a technical collaboration with Board of Radiation and Isotope, technology for manufacture & marketing of radio immunoassay kits for the production of diagnostic and therapeutic recombinant protections.
The Bio-technology has a technical collaboration agreement with Viral Therapeutics Inc. U. S. A. Company has a Critical care division to commercialize products from the research foundation and the first product to be marketed by the division was Miitotax an anti-cancer product used in the treatment of breast and ovarian cancer. Company has launched its first anti-cancer drug Mitotax (Paclitaxel) in 1998.
The product is produced in-house at Dr. Reddy's Research Foundation (DRF) from the extracts of the yew tree and formulated in Hyderabad. Company has effluent treatment plant at its bulk pharmaceuticals manufacturing facility located at Bollaram Industrial Development Area. Company also started a new trend in the Indian pharmaceutical sector by installing a "satellite" discovery research laboratory in the United States.
In April 2001 Company got listing in the New York Stock Exchange (NYSE). Company merged "Zenovus Biotech Ltd.", a wholly owned subsidiary to enhance its strength into biotech. Company has over 950 scientists working across the globe, around the clock. Company continues its relentless march forward to discover and deliver a breakthrough medicine to address an unmet medical need and make a difference to people's lives worldwide.
Products & services:
Company manufactures and markets Active Pharmaceutical Ingredients, Finished Dosages and Biologics in over 100 countries worldwide, in addition to having a very promising Drug Discovery Pipeline. When Dr. Reddy's started its first big move in 1986 from manufacturing and marketing bulk actives to the domestic (Indian) market to manufacturing and exporting difficult-to-manufacture bulk actives such as Methyldopa to highly regulated overseas markets. Dr. Reddy in stark contrast is known globally for its proven high quality-low cost manufacturer in delivering safe and effective pharmaceuticals.
Company's product portfolio spans an impressive mix of Active Pharmaceutical Ingredients, Generics and Branded Formulations as well as Biologics. In the API Segment Company manufactures Anti viral, Anti Hypertensive, muscle relaxant, Anti bacterial, Gastroprokinetic, Anti Thrombotic, Anti Fungal, Anti Histaminic, Anti Tussives, Anti inflammatory, Cardiovasculars, Anti Emetic, Nootopric, Anti ulcerant, Anti Histaminic, Anti Psychotic, Anti Convulsant, Quinolone, Anti Diarrheal, Gastroprokinetic, Anti Asthmatic, Anti Migraine, Anti Diabetic, Anti Depressant, Bronchodilator, etc. Company Markets Citalopram, Enalapril, Famotidine, Fluoxetine, Flucanozole, Ibuprofen, Oxaprozin, Ranitidine, Tizanidine and Ciprofloxacin in the USA market. Company supplies generics to the European and UK markets like Amlodipine Maleate, Bendroflumethiazide, Benzhexol (Trihexyphenidyl), Bisacodyl 5mg Tablets, Cetirizine Hydrochloride, Chlordiazeproxide, Chlorpromazine, Ciprofloxacin, Co- amilozide, Diazepam, Dipyridamole, Erythromycin, Fluconazole, Fluoxetine, Indometacin, Ketoconozole, Lamotrigine, Loratadine, Nitrofurantoin, Nizatidine, Omeprazole, Oxytetracycline, Pergolide, Piroxicam, Pravastatin, Prochlorperazine, Spironolactone, Sulfasalazine, Sumatriptan, Terbinafine, Trifluoperazine. Except the above company supplies Cetrine 10mg, Histalor 10, Ciprolet 250mg, Ciprolet 500mg, Sparflo, Stamlo 10mg, Stamlo 5mg, Enam 10mg, Resilo 25mg, Resilo 50mg, Reclide, Diavista 30, Zoran 150, Omez, Lostatin, Nise 100, Rafree 7.5, Ibuclin, Finast Tab to rest of the world. In the Biologics, company manufactures "GRAFEEL". GRAFEEL regulates the production, maturation, and function of cells of the neutrophil lineage. GRAFEEL is used to treat cancer patients suffering from chemotherapy-induced neutropenia.
Company is one of the leading players into Indian pharmaceuticals market. It derives more than 25% of its revenue from US markets. At current market price, stock is trading at 20.67 P/E multiple of its FY2010 estimated EPS. We recommend investors to buy "Dr. Reddy's Laboratories" with Medium to long-term investment prospective. (IANS)