Complex generics, proprietary products to drive growth: Dr Reddy's Labs
New Delhi : Dr Reddy's Laboratories (DRL) expects complex generics, proprietary products, including creation of branded generics platform in the US, to be the main drivers of its growth going forward.
"Our growth, going forward, will be driven by the attractive pipeline of complex generics as well as our new proprietary products," Dr Reddy's Laboratories Chairman K Satish Reddy said in a message in the company's latest annual report.
The company will leverage these across the markets we operate in, together with increasing our OTC portfolio, he added.
Highlighting the roadmap the company is taking for expansion, Reddy said, "we are creating a branded generics platform in North America and expanding our biologics play in Russia, CIS and other emerging markets".
The outlook for the API business is also positive, he added.
A branded generic is a drug that is bioequivalent to the original product, but is now marketed under another company's brand name.
During the fiscal year 2015-16, the company's revenues from North America for generics grew 19 per cent to Rs 7,540 crore during 2015-16.
"The sustained performance of our injectables franchise and market share gains in key molecules were the main reason," Reddy said.
Dr Reddy's Laboratories had posted a consolidated net income from sales and services of Rs 15,470.8 crore for 2015-16 fiscal. It was Rs 14,818.9 crore in the previous fiscal.
About the other global markets, Reddy said "it is difficult to assess the probable situation in Venezuela and Russia in the near future."
In case of Venezuela, the company has decided to supply medicines only against letters of credit or pre-payment, he added.
"We are cautiously optimistic about Russia, given that there is a gradual recovery in the crude prices, and its direct impact on the rouble," he added.