Dr Reddy’s targets $1 bn revenue from generics
07 Mar 2011
Hyderabad-based pharmaceutical company Dr Reddy's Laboratories aims to earn $1 billion revenue a year from branded generics for the next three years, said Dr K Anji Reddy, its founder and chairman.
The company, a leader in genetic drugs, sold $600 million worth of generics globally in the nine months of this fiscal ended 31 December.
''While analysing our global generics segment recently, I have told our people that we will be able to sell a billion dollars worth of generics in next three years,'' Reddy said while speaking at the inaugural session of a national conference on 'Regulatory challenges - global pharmaceutical market' in Hyderabad on Sunday.
The company's flagship brand, Omez, alone brings in Rs700 crore revenues to the company, he said.
The company had filed 141 ANDAs to the US FDA till December 2010. The company is awaiting approval for 62 ANDAs. Of these, 35 ANDAs were filed with Para IV; and 13 are first-to-file products, according to CNBC-TV18.
Analysts say the key future growth trigger for the company will be the opportunity arising due to off-patenting of some of the blockbuster drugs worth $80-100 billion in the next five years.
''Some of the drugs like Pfizer's Lipitor will be off- patent in the next three to four years. Dr Reddy's as a generic drug maker is well positioned to take the opportunities.
Though the market size in terms of value comes down after the patent expiry, generic players will have sizable opportunity,'' said Satish Kanteti of Zen Securities.
