Dr Reddy's enters trade generics business in India
Dr Reddy's is exploring strategic collaborations in India, including investing in innovative healthcare spaces which it views as future growth drivers.
Pharmaceutical major has forayed into trade generics business in India, creating a dedicated division called 'RGenX', aimed at offering a wide range of affordable products to patients.
Propelled by the new foray, the Hyderabad-headquartered firm aims to achieve its goal of reaching nearly 1.5 billion patients by 2030.
"This foray into trade generics will add to our reach and depth by making high quality medicines of Dr Reddy's accessible to more patients around the country in keeping with our purpose of 'Good Health Can't Wait'," said MV Ramana, chief executive, India and Emerging Markets, Dr Reddy's, in a press release.
As the company strives to strengthen its branded generics business in India by growing brands, new product launches, digital and analytics-powered productivity enhancement and select strategic acquisitions, it is also rolling out trade generics across cities, towns and rural areas in India.
Besides working closely with its channel partners to make its products available, Ramana noted that India is a key focus market, adding that the new announcement is a continuation of Dr Reddy's efforts to build a well-rounded business in the country.
Further, Dr Reddy's is exploring strategic collaborations in India, including investing in innovative healthcare spaces which it views as future growth drivers, Ramana added.
Edited by Megha Reddy