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. in China for paediatric orphan diseases and Ramana told Scrip that while the partners expect to launch products for those indications they were also working on products that are “big in terms of size. At the same time, the aspiration is to ensure that we will participate in the first GPO for these assets.”

The partners had earlier indicated they hope to provide drugs for paediatric rare diseases from among officially-listed medicines required urgently in China.

Deals, Divestitures In Store As Dr Reddy’s Stays Course To Top 5 India League

More from Business

More from Scrip