Dr. Reddy's Laboratories Ltd. continues to be bullish on the India market with senior management underscoring the firm’s intent to break into the top five position in country, while momentum builds alongside in other markets like China, where it is seeing double-digit growth.
China Growth Momentum
Dr Reddy’s also presented a generally buoyant outlook for its operations in China, where it has a long-standing presence.
Dr Reddy's CEO, branded markets (India and emerging markets), M V Ramana, maintained that in order to be competitive in China, firms ideally need to file upwards of around 15 dossiers. The Indian firm currently has about 20 filings pending approval – typically filings can take 18-24 months for a go-ahead.
“This year, we are in line to file 15 dossiers in China. We also see a steady state of approvals that we have been receiving and we'll been launching the products; we expect more filings and approvals as we get towards the end of the current year,” Ramana told Scrip at a post-results media briefing.
He also referred to the continuing drive of the Chinese government towards the Group Purchasing Organization (GPO) program - access to more registrations will enable participation in the upcoming GPOs. Dr Reddy's is already growing in the double digits in China and anticipates this can further pick up in the second half of 2024 and 2025 onwards.
The Indian company also has an alliance with Sunflower Pharma
At the earnings call for the third quarter of fiscal 2023, Dr Reddy’s CEO Erez Israeli indicated the main India growth will come from investments in differentiated and specialty products and collaborations
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