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Dr. Reddy's Laboratories Ltd. Company History and Annual Growth Details


- The Company was Incorporated on 2nd November. The Company was
promoted by Dr. K. Anji Reddy and his associates who were also the
promoters of Standard Organics, Ltd.

- In May, the Company issued 7,50,000 equity shares of Rs 10 each for
cash at par linked to 1,50,000 - 15% secured redeemable non-convertible
debentures of Rs 100 each for cash at par in the proportion of one
debenture for five equity shares held including the oversubscription
from the public. The allotment was made as follows:

- (i) 12,550 equity shares linked to 2,510 debentures were issued to
business associates

- (ii) 850 shares linked to 170 debentures were issued to the employees

- (iii) 2,80,500 shares linked to 56,100 debentures issued to the
non-resident Indians and (iv) 5,25,850 shares linked to 1,05,170
debentures were issued to the public.


- 10,06,500 equity shares then issued at par out of which 2,56,500
equity shares were reserved and allotted to promoters, etc. The
remaining 7,50,000 equity shares were issued linked to debentures of
which the following shares were reserved for preferential allotment:

- (i) 15,000 shares to business associates of the Company (only 12,550
shares taken up);

- (ii) 37,500 shares to employees of the company (only 850 shares taken
up) and 3,00,000 shares to non-resident Indians (only 2,80,500 shares
taken up). The balance 3,97,500 shares along with the unsubscribed
portion of 58,600 shares out of the preferential quota were offered for
public subscription during June.

- 1,16,250 additional shares linked to debentures were allotted to
retain oversubscription (46,500 shares to promoters and 69,750 shares
to the public.


- 13,660,500 No of equity shares forfeited.

- (15 months), a plan was drawn for the expansion and modernisation of
formulations division. ICICI and IFCI sanctioned term loans of Rs 198
lakhs and Rs 132 lakhs respectively.


- An explosion at the Company's plant resulted in stoppage of
production for 2 months. Two new products namely, a Ciprolet and Enam
were introduced by the Company's formulation division while the
Company's bulk drug division commenced manufacture of ciprofloxacin, a
new drug. The Company exported goods such as Methyldopa, Cephalexin
etc., worth Rs 2.68 crores.

- 6,83,125 rights shares issued (prem. Rs. 15 per share; prop. 1:2).
Additional 1,02,470 shares allotted to retain oversubscription.
Another 34,155 shares (prem. Rs 15 per share) allotted to employees.


- The Company started manufacturing a new bulk drug by the name
Omeprazole which was launched in the market by the brand name 'OMEZ'.


- 10,92,950 bonus equity shares issued in prop. 1:2.


- 32,78,850 bonus equity shares issued in prop. 1:1.


- Subject to necessary approvals being obtained, a separate company in
the name of 'Dr. Reddy's Dignostics Ltd.' was to be set up for the
manufacture of dragnostics kits. The Company proposes to invert to the
extent of 60% in the equity capital of the company.


- The Company proposed to invest Compact Electric Ltd., which was in
the process of setting up a plant at Chennai for manufacturing energy
efficient electric filament/discharge lamps in Collaboration with
Li-Tech Corporation, South Korea. The Company set up a subsidiary
'Reddy Hong Kong Ltd.' in Hong Kong for marketing the Company's
products in Main Land China and Far East countries.

- 'Reddy Biomed Ltd.' was incorporated as a joint venture between the
Company and a Russian Company 'Joint Stock Company of open type named
after 1:1. Machnikov' for manufacturing and marketing formulation in

- Effective 1st April, Standard Equity Fund was merged with the
Company. Pursuant to the scheme of amalgamation 2,63,062 equity shares
of Rs 10 each of the Company were issued to the shareholders of
erstwhile Standard Equity Fund in the ratio of one equity share of the
Company for ten equity shares of the erstwhile Standard Equity Fund

- During July the Company issued 4301076 Global Depository Receipts at
a price of US $11.16 per GDR. The Company allotted 4301076 equity
shares of Rs 10 each at a premium of Rs 340 per share underlying the

- The company issued 4,301,076 GDSs representing 4,301,076 equity
shares of the Company, par value Rs.10 ('Shares'), in a private
placement in 1994 pursuant to Regulation S and Rule 144A under the
Securities Act of 1933 (the 'Securities Act'). The GDSs are listed on
the Luxembourg Stock Exchange and each GDS represents one Share. As of
May 4, 2001, there were 1,789,285 GDSs outstanding representing


- Formulation division launched two new products namely Lanzap, an
anti-Ulcerant drug and Peristil, drug for gastric disorder. The bulk
drug division commenced the production of six new products viz.,
Finasteride, Nimesulide, Fluoxetine, Hydrochloride, Terbinafine,
Hydrochloride, Risperidone and Clozapine. The Company was in the
process of setting up a subsidiary in the Antilles Kingdom of
Netherlands for licensing the manufacture and marketing of drugs.

- 263,062 equity shares issued to the shareholders of erstwhile
standard Equity Fund Ltd. Pursuant to the scheme of amalgamation.


- Four new products viz. Nise, Stamlo Beta, Sparfloxacin and Finast
were launched. Finast, a drug for treatment of benign prostiate
enlargement was launched for the first time in India. Under the bulk
drugs category two new drugs viz. Sparfloxacin & Croratidine were

- The diagnostics division entered into a technical collaboration
agreement with Board of Radiation and Isolope, technology for
manufacture & marketing of radioimmonuassay kits for the production of
diagnostic and therapeutic recombinant protections, the Bio-technology
division entered into a technical collaboration agreement with Viral
Therapeutics Inc. U.S.A.


- In view of the company's long term plans in the area of diabetic
care, the company launched Reclide (Glicazide), its first product in
the theraupeutic segment. Also, in its commitment to promote
innovative products, the company entered into a marketing alliance to
market Netacryl, a bio adhesive (n-butyl-2-cyno acrylate) used for the
closure of external surgical and post traumatic wounds.

- The Company set up a Critical care division to commercialise products
from the research foundation and the first product to be marketed by
the division was Miitotax an anti-cancer product used in the treatment
of breast and ovarian cancer.

- The city-based drug major Dr. Reddy's Laboratories has perfected the
formulation of an anti-diabetic compound, glitazone for commercial

- DRF has signed a licensing agreement with the Denmark-based Novo
Nordisk, according to which the latter would obtain an exclusive
worldwide license to develop and market pharmaceutical products based
on compounds discovered and patented by the former.

- Dr. Reddy's Research Foundation has finally signed the agreement for
clinical testing of its four diabetes compounds of glitazone with the
European drug major; Nova Nordisk.

- Dr Reddy's Labs, the Hyderabad based pharmaceutical company, is
forming two new joint ventures in Brazil and Uzbekistan.

- The Hyderabad-based Dr Reddy's Laboratories is manufacturing an
anti-ulcer formulation right from the basic stage for competitor,
Ranbaxy Laboratories, as part of its strategy aimed at creating more
value for its bulk drugs.


- Dr. Reddy's Laboratories (DRL) has launched its first anti-cancer
drug Mitotax (Paclitaxel). The product is produced in-house at Dr.
Reddy's Research Foundation (DRF) from the extracts of the yew tree and
formulated in a dedicated facility in Hyderabad.

- Dr. Reddy's Laboratories (DRL) has ended its collaboration with the
French company, bioMerieux. The collaboration agreement, which
envisaged DRL to market bioMerieux's diagnostic reagents and
instruments in India, has come to an end on 13th November.

- Dr. Parvinder Singh, Chairman & Managing Director of Ranbaxy
Laboratories and Dr. K Anji Reddy, Chairman of the Rs 5000 million Dr.
Reddy's Group of pharmaceutical companies, were conferred with the
prestigious 'Ishidate Award' of the Federation of Asian Pharmaceutical
Associations (FAPA).

- The merger with Cheminor Drugs (the swap ratio at nine shares of
Dr. Reddy's Laboratories for 25 shares of Cheminor), has made
DRL the third largest pharmaceutical company in Inida with
participation in every element of the value chain.


- Dr. Reddy's Laboratories Ltd. (DRL) has set up an in-house effluent
treatment plant at its bulk pharmaceuticals manufacturing facility
located at Bollaram Industrial Development Area.

- Dr. Reddy's Laboratories is setting a new trend in the Indian
pharmaceutical sector by installing a 'satellite' discovery research
laboratory in the United States.

- The company has two US-FDA approved plants. It has been exporting its
products to the UK, Switzerland, Germany, Spain, Italy and the
Netherlands. It also started exporting its formulations in a big way to
Russia and has set up an office there. DRL has signed a joint venture
agreement with the Khetan group, Nepal, for setting up a joint venture
for the manufacture and marketing of finished formulations in Nepal and
other neighbouring countries. It also signed a marketing and
distribution agreement with Organics, Israel, for a wide range of
sophisticated diagnostic kits. The products are recognized by WHO and
other leading organisations in the healthcare industry.


- Dr. Reddy's Laboratories and the Gribbles Group of Australia have
signed a memorandum of understanding to form a joint venture company
for establishing a network of 50 pathology laboratories and up to 200
specimen collection centres in India over the next five years.

- The Board has approved merger of Cheminor Drugs Ltd. with the
company. Nine equity shares of the company will be allotted for every
25 equity shares of CDL held. The Company has decided to issue
7,50,000 equity shares under ESOS.

- The employees of the formulation unit-II of the company at Bachupally
have decided to go on an indefinite strike from 17th June.

- The Company has introduced a five-day week from January and change in
timings. A small group of employees has called for a strike from June

- For the first time in the country, pharma major Dr. Reddy's
Laboratories has launched an initiative to document clinical studies of
drugs on the Internet.

- DRF 2725, an anti-duabetic molecule discovered by Dr. Reddy's
Research Foundation and licensed to Novo Nordisk in June 1998, has
entered phase II trials of clinial development.

- Dr. Reddy's Laboratories Ltd., the Hyderabad-based pharmaceutical
company, has acquired three brands in the segment of women's health
from Dai-Ichi Karkaria Ltd.

- In a move to enhance the market share in the domestic formulations
segment, Dr. Reddy's Laboratories Ltd. has decided to set up a
specialised field-force to work in close partnership with the medical
community besides regroupes its older products.

- The company has entered into an exclusive co-marketing and
development agreement with Par Pharmaceuticals Inc. covering fourteen
generic pharmaceuticals products.


- In April 2001, as a first step towards taking its molecules through
clinical development on its own, Dr. Reddy's Laboratories has selected
Simbec Research Limited, a well-known UK-based Clinical Research
Organization (CRO), for conducting clinical trials of DRF 4832. DRF
4832 is a PPAR agonist for treatment of cardiovascular complications.

- Dr. Reddy's Laboratories Ltd. has ended a two-year-old marketing
partnership with the US-based Schein Pharmaceutical Inc following
Schein's takeover by Watson Pharmaceutical Inc.

- The Company has entered into an exclusive co-marketing and
development agreement with Par Pharmaceuticals Inc., the US-based
manufacturer and distributor of a broad line of generic drugs.

- Dr Reddys Laboratories has gone online with all its phase III and
phase IV clinical trials on new products using an application being
deployed on a website.

-Eli Lilly has sued Dr Reddy's for infringement of one of the patents
on olanzapine, the key ingredient in Lilly's antidepressant drug

- Reddy US Therapeutics, Inc, a biopharmaceutical company based in
suburban Atlanta and a subsidiary of Dr Reddys Laboratories Limited,
has announced the formation of a scientific advisory board consisting
of scientists and physicians to advise it on its drug discovery
research and development programes.

- Dr. Reddy's Laboratories Ltd's product insert of its human
recombinant granulocyte colony stimulating factor -- Filgrastim
injection (Grastim), an anti-cancer formulation -- has got approval
from the Drug Controller General of India (DGCI).

- In April 2001, Dr. Reddy's Laboratories began trading on the New York
Stock Exchange (code: RDY). The price to the public per ADS was $10.04.
Total amount raised (net) was $ 124 million.

- In May 2001, the company decided to terminate the GDS programme. Once
the facility is terminated, the Shares underlying the GDSs will be
deposited in Dr. Reddy's American Depositary Share ('ADS') facility
with Morgan Guaranty Trust Company of New York as depositary ('the

In May 2001, Novartis Pharma AG and Dr. Reddy's Laboratories announced
that they have entered a licensing agreement for a novel anti-diabetes
agent. Under terms of the agreement Dr. Reddy's will grant Novartis
worldwide exclusive rights to development and commercialisation of
their insulin sensitiser DRF 4158 in type 2 diabetes, in return for up
to USD 55 million in upfront and milestone payments for specific
clinical and regulatory endpoints, as wellas royalties. Dr. Reddy's
will have co-promotion rights for DRF 4158 in India.

- The agreement has received US regulatory clearance and has become
effective from July 30, 2001. This event has triggered an upfront
payment of 5 million US dollars from Novartis. Dr. Reddy's hasreceived
this payment.


- The Board has appointed Mr. Krishna G.Palepu as Additional Director
on the Board of the Company.

- Dr Norton Peet to head Dr. Reddy's discovery services venture.

- Appointment of Mr Anupam Puri as Additional Director, Recommended a dividend of Rs 2.50 on equity share of Rs 5 each. To convene AGM on August 26, 2002, To re-appoint Mr Satish Reddy as Managing Director and COO for a period of 5 years wef October 01, 2002 subject to the approval of the shareholders.

-Dr Reddy's appoints Uday Saxena as Chief Scientific Officer.

-Dr Reddy's Laboratories Ltd has informed that the Company has granted 1813 stock options to an employee of the Company at the meeting of the Compensation Committee of Board of Directors held on August 26, 2002.The options have been granted at a price of Rs 884 per option, which is equivalent to weighted average share price of the Company of last 30 days on BSE.

-DataEdge deploys direct material procuremet solution for Dr Reddy's

-DCGI orders for the removal of word 'filgrastim' from its anti-cancer drug Grastim

-Introduces VRS scheme in the company

-Decides to revoke interim dividend of Rs 2 per share

-Signs definitive agreement to acquire BMS Lab & Meridian Healthcare UK

-Pondicherry unit starts operations

-Files application for a new drug- amlodipine maleate

-Launches Bicalutamide under the brand name 'Tabi' which is indicated for the treatment of advanced prostate cancer

-Launches Montelukast (generic name), a non-steroidal drug indicated for prohylaxis and treatment of asthma, in India

-Unveils asthma drug Emlucast

-Launches Mizolastine, non-sedative anti-histamine drug under the brand name Elina

-Grants 2,59,400 stock options under ESOP (Employee Stock Option Plan)

-Anti-cancer molecule DRF-1042 completes phase I clinical trials

-Files an Abbreviated New Drug Application (ANDA) with the US Food & Drug Administration (FDA) for Clopidogrel Bisulfate tablets 75 mg with Para IV certification on all listed Orange Book patents

-Hikes annual spend on R&D from 6% to 8% of turnover

-Leads among Indian companies in getting international patents

-Files Paragraph IV certifications on two patents for Pfizer's Norvasc

-Pfizer files suit against Dr Reddy's over Norvasc patent

-Announces USFDA approval for Tizanidine HCL tablets

-Gets USFDA approval for Zanaflex

-Gets final approval from US Food and Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) for Ciprofloxacin Tablets 100, 250, 500 and 750 mg

-Announces ANDA filing for Terbinafine tablets

-Novo Nordisk announces its decision to suspend the ongoing clinical trials on the anti-diabetic molecule of Dr Reddy's Laboratories Ltd.

-Values its brand at Rs 3,362 crore in March 2002

-Judgment of US court goes against Dr Reddy's Laboratories in a patent violation case over the antibiotic Cipro

-Promoters holding slips from 31.5% to 26%

-Gets ex-parte temporary injunction stopping Sun Generics from manufacturing and marketing pharmaceutical preparations bearing the trademark OMZ 20

-Launches Dr. Reddy's Foundation For Health Education

-Launches Breast Cancer Helpline in Mumbai

-Receives USFDA approval for Amlodipine Maleate

-Launches Broncho-Vaxom for patients suffering from repeated respiratory tract infections

-Launches OncoQuest, India's first real time helpline for doctors

-Unveils Omeprazole in injectable form in the domestic market

-Wins the case against Pfizer in US court

-Wins national award for excellence in corporate governance


-Withdraws paediatric dosage of Nimesulide from the market

-Launches Ibuprofen - First product under Dr Reddy's label in the US market

-Unveils Tolterodine Tartrate drug for the treatment of urinary incontinence

-Novartis discontinues trials on Dr Reddy's compound DRF-4158

-Drops three new compounds from its research pipeline that were undergoing or had completed pre-clinical development or animal trials

-Dr Reddy's anti-diabetis drug receives a set back as Danish Pharma company Novo Nordisk suspends the trails on the drug

-Announces completion of Insulin trails by Novo Nordisk

-Pfizer files patent application against Dr Reddy's

-Announces the completion of a 15 year agreement with Leiner Health

-Filed a second case against Pfizer in the US

-Announces ANDA filing for Olanzapine ODT

-Aventis sues Dr Reddy's Lab for patent infringement

-Announces ANDA filing for Ondansetron HC1 Tablets, Equivalent to 16 mg Base

-Dr. Reddys Board approves merger of Zenovus Biotech Ltd., a wholly owned subsidiary

-Files a new drug application (NDA) with the US Food and Drugs Administration (USFDA)

-Gets US approval for Serzone generic

-Dr Reddy's complaint on Sertraline dismissed

-Closes down its 14 year old diagnostic business

-DRL's brand value estimated at Rs 2,767 crore, human resources valued at Rs 2,908 crore as on 31/03/2003

-Eli Lilly agrees to dismiss with prejudice its wilful infringement claim in Olanzapine patent challenge

-Announces ANDA filing for Rosiglitazone Maleate

-Glaxo files suit over Dr Reddy's for patent infringement

- Gets USFDA approval for Nefazodone HCL tablets

-Dr. Venkateswarlu retires from Dr Reddy's Laboratories Board

-Company has announced that it has signed an agreement with PLIVA for development and marketing of oncology products in Europe.


-Dr Reddy's files Abbreviated New Drug Application with USFDA for Sumatriptan

-Dr Reddy's appoints Dr Dennis Langer as President for North America

-Rotary Club presents Vocational excellence award to Anji Reddy

-Launched Redotil (racecadotril), the first anti-hypersecretory agent for the management of acute diarrhea in India

-Dr Reddy's Laboratories shifts North American headquarters from its old home office in Upper Saddle River in New Jersey to more modern facilities in the Somerset Corporate Centre at Bridgewater in central New Jersey

- Dr Reddy's acquires US firm Trigenesis

- Dr Reddy's' Omez gets 'WordStar' award

-Dr Reddy's Laboratories Ltd, the Hyderabad-based global pharmaceutical major, has obtained the tentative approval of the United States Food and Drugs Administration (USFDA) for the abbreviated new drug application filed on Fluconazole, indicated for the treatment of fungal infection

- Receives approval from US Food and Drug Administration (FDA) for ciprofloxacin tablets.

-Establishes new captive BPO unit

-Dr. Reddy's wins award for energy management


-Dr Reddys launches India's first drug for treatment of diabetic foot ulcers

-Dr Reddys wins WorldStar awards for anti-counterfeit & patient protection packaging

-DRL unveils new programme for underprivileged youth

-India's Dr Reddy's Laboratories Ltd has received approval from the US Food and Drug Administration to market nizatidine tablets in multiple strengths

-Dr Reddys sets up India's first major drug development company

-Dr Reddys launches 'Voboliv' Metaoxine to enter hepatoprotactives market

-Dr Reddys announces the launch of 'Save The Foot' initiative to reduce Diabetic Food Amputations


-Dr Reddys Laboratories Ltd has informed that the Company has entered into an agreement with Merck

-Dr Reddys Laboratories Ltd has launches 'Z&D'- a Zinc Sulphate formulation indicated as Adjuvant therapy along with ORS in the management of Acute and persistent Diarrhea. Available in 10 & 20 mg Dispersible orange flavoured Tablets as well as in 10mg/ml & 20mg/ml Dry Syrup for pediatric use, this product is intended to supplement the ORS (Oral Rehydration Salt) market.

-Dr Reddy's launches 'Doxobid' - a new oral bronchodilator for asthma & COPD

-Dr Reddys Laboratories Ltd has filed a shelf registration statement on Form F-3 with the U.S. Securities and Exchange Commission relating to a proposed offering of American Depositary Shares, or ADSs of up to 13.5 million shares, excluding the underwriter's over-allotment option.


- Dr Reddy's Laboratories Ltd rolled out Redituxa, its brand of rituximab, a monoclonal antibody (MAb) used in the treatment of Non-Hodgkin's Lymphoma (NHL).

-Dr Reddys Laboratories Ltd has appointed Ms. Kalpana Morparia as an Additional Director on the Board of the Company by way of a circular resolution dated June 05, 2007.

-Dr. Reddys launches Reditux Monoclonal Antibody Treatment for Non-Hodgkins Lymphoma
-Dr. Reddys is the first company to get USP certification for its APIs
-Dr. Reddy's launches Glimy MP 1 and Glimy MP2.
Triple drug combination ideal to address the triple defects in diabetes


- Dr Reddys Laboratories Ltd has acquired Jet Generici Sri, a Company engaged in the sale of generic finished dosages in Italy.

-Dr Reddy's Laboratories Ltd has signed a definitive agreement to acquire BASF's pharmaceutical contract manufacturing business and related facility in Shreveport, Louisiana, USA.

- Hyderabad: Dr Reddy's Laboratories Ltd unveiled Omez Insta for patients suffering from severe gastritis and those on Ryle's tube feeding in India.

- Dr Reddys Laboratories Ltd has appointed Dr. Bruce L A Carter as an Additional Director on the Board of the Company.


- Dr Reddys Laboratories Ltd has has appointed Dr. Ashok S Ganguly as an Additional Director on the Board of Directors of the Company with effect from October 23, 2009.

-Dr. Reddy's launches Strea C10 and Strea A15 in India

-Dr. Reddy's launches Bispec in India

-Dr. Reddy's joins American Chemical Society Green Chemistry Institute Pharmaceutical Roundtable


- Dr Reddy's Laboratories announced the launch of Cresp. It is a darbepoetin alfa that is approved for the treatment of anemia. It is due to chronic kidney disease or chemotherapy.
Oct 27, 12:00 am
Oct 27, 4:14 pm
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