Dr Reddy’s Laboratories (DRL) was promoted in 1984 by Anji Reddy, a pioneering scientist-entrepreneur, as a manufacturer of bulk drugs or active pharmaceutical ingredients (APIs). Over the last three decades, DRL has emerged as an integrated global pharmaceutical company offering a wide range of products including APIs, generics, biosimilars, and differentiated formulations. Nearly 80% of the company’s revenues are derived from overseas markets that include the United States (US), Russia and Commonwealth of Independent States (CIS) and Europe, apart from other select geographies within emerging markets. G V Prasad is current Chairman and Chief Executive Officer (CEO) of DRL and is widely considered the architect of the company’s successful global generics and API strategies. Following are select excerpts from a conversation on DRL’s internationalisation strategy that he had with Professor Raveendra Chittoor of ISB.
Before looking specifically at DRL's journey, it is worth noticing the tremendous internationalisation of many Indian companies in the last decade or so. What do you think are the triggers for this rather sudden change?