here . for the radar system see radar doppler multitarget . dr. reddy s laboratories . type public traded as nse drreddy bse 500124 nyse rdy industry pharmaceuticals founded 1984 founders kallam anji reddy headquarters hyderabad telangana india key people g. v. prasad ceo kallam satish reddy chairman revenue 15 697.80 crore us 2.3 billion 2016 1 net income 2 151.40 crore us 320 million 2016 1 total assets 20 010.40 crore us 3.0 billion 2016 total equity 82.80 crore us 12 million 2016 number of employees 20 373 april 2015 website www.drreddys.com dr. reddy s laboratories is an indian multinational pharmaceutical company based in hyderabad telangana india . the company was founded by anji reddy who previously worked in the mentor institute indian drugs and pharmaceuticals limited of hyderabad india . 2 dr. reddy s manufactures and markets a wide range of pharmaceuticals in india and overseas . the company has over 190 medications 60 active pharmaceutical ingredients apis for drug manufacture diagnostic kits critical care and biotechnology products . dr. reddy s began as a supplier to indian drug manufacturers but it soon started exporting to other less regulated markets that had the advantage of not having to spend time and money on a manufacturing plant that would gain approval from a drug licensing body such as the u.s. food and drug administration fda . by the early 1990s the expanded scale and profitability from these unregulated markets enabled the company to begin focusing on getting approval from drug regulators for their formulations and bulk drug manufacturing plants in more developed economies . this allowed their movement into regulated markets such as the us and europe . in 2014 dr. reddy laboratories was listed among 1200 of india s most trusted brands according to the brand trust report 2014 a study conducted by trust research advisory a brand analytics company . 3 by 2007 dr. reddy s had six fda plants producing active pharmaceutical ingredients in india and seven fda inspected and iso 9001 quality and iso 14001 environmental management certified plants making patient ready medications five of them in india and two in the uk . 4 in 2010 the family controlled dr reddy s denied 5 that it was in talks to sell its generics business in india to us pharmaceutical giant pfizer 6 which had been suing the company for alleged patent infringement after dr reddy s announced that it intended to produce a generic version of atorvastatin marketed by pfizer as lipitor an anti cholesterol medication . 7 8 reddy s was already linked to uk pharmaceuticals multinational glaxo smithkline . 9 contents 1 company history 1.1 international expansion 1.2 new drug discovery 1.3 expansion and acquisition 1.4 american ipo and expansion into europe 1.5 global expansion 2 patient centric initiatives 3 issues and recalls 3.1 drug discovery problems 3.2 2011 recall 3.3 2014 fda form 483 4 key people 5 key products 5.1 top active pharmaceutical ingredients 6 top brands by dr reddy s 7 references 8 external links company history edit dr. reddy s originally launched in 1984 producing active pharmaceutical ingredients . in 1986 reddy s started operations on branded formulations . within a year reddy s had launched norilet the company s first recognized brand in india . soon dr. reddy s obtained another success with omez its branded omeprazole ulcer and reflux oesophagitis medication launched at half the price of other brands on the indian market at that time . within a year reddy s became the first indian company to export the active ingredients for pharmaceuticals to europe . in 1987 reddy s started to transform itself from a supplier of pharmaceutical ingredients to other manufacturers into a manufacturer of pharmaceutical products . international expansion edit the company s first international move took it to russia in 1992 . there dr. reddy s formed a joint venture with the country s biggest pharmaceuticals producer biomed . they pulled out in 1995 amid accusations of scandal involving a significant material loss due to the activities of moscow s branch of reddy s labs with the help of biomed s chief executive . 10 reddy s sold the joint venture to the kremlin friendly sistema group . in 1993 reddy s entered into a joint venture in the middle east and created two formulation units there and in russia . reddy s exported bulk drugs to these formulation units which then converted them into finished products . in 1994 reddy s started targeting the us generic market by building state of art manufacturing facility . citation needed new drug discovery edit biopharma finished dosage unit iii in hyderabad biopharma finished dosage unit i in hyderabad reddy s path into new drug discovery involved targeting speciality generics products in western markets to create a foundation for drug discovery . development of speciality generics was an important step for the company s growing interest in the development of new chemical entities . the elements involved in creating a speciality generic such as innovation in the laboratory developing the compound and sending the sales team to the market are also stages in the development of a new specialty drug . starting with speciality generics allowed the company to gain experience with those steps before moving on to creating brand new drugs . reddy s also invested heavily in establishing r & d labs and is the only indian company to have significant r & d being undertaken overseas . dr. reddy s research foundation was established in 1992 and in order to do research in the area of new drug discovery . at first the foundation s drug research strategy revolved around searching for analogues . focus has since changed to innovative r & d hiring new scientists especially indian students studying abroad on doctoral and post doctoral courses . in 2000 the foundation set up an american laboratory in atlanta dedicated to discovery and design of novel therapeutics . the laboratory is called reddy us therapeutics inc rusti and its main aim is the discovery of next generation drugs using genomics and proteomics . reddy s research thrust focused on large niche areas in western markets anti cancer anti diabetes cardiovascular and anti infection drugs . citation needed reddy s international marketing successes were built on a strong manufacturing base which itself was a result of inorganic growth through acquisition of international and national facilities . reddy s merged cheminor drug limited cdl with the primary aim of supplying active pharmaceutical ingredients to the technically demanding markets of north america and europe . this merger also gave reddy s an entry into the value added generics business in the regulated markets of apis . expansion and acquisition edit by 1997 reddy s was ready for the next major step . from being an api and bulk drug supplier to regulated markets like the usa and the uk and a branded formulations supplier in unregulated markets like india and russia reddy s made the transition into generics by filing an abbreviated new drug application anda in the usa . the same year reddy s out licensed a molecule for clinical trials to novo nordisk a danish pharmaceutical company . it strengthened its indian manufacturing operations by acquiring american remedies ltd. in 1999 . this acquisition made reddy s the third largest pharmaceutical company in india after ranbaxy and glaxo i ltd. with a full spectrum of pharmaceutical products which included bulk drugs intermediates finished dosages chemical synthesis diagnostics and biotechnology . citation needed reddy s started exploiting para 4 filing as a strategy in bringing new drugs to the market at a faster pace . in 1999 it submitted a para 4 application for omeprazole the drug that had been the cornerstone of its success in india . in december 2000 reddy s had undertaken its first commercial launch of a generic product in the usa . and its first product with market exclusivity was launched there in august 2001 . the same year it also became the first non japanese pharmaceutical company from the asia pacific region to obtain a new york stock exchange listing ground breaking achievements for the indian pharmaceutical industry . citation needed in 2001 reddy s became the first indian company to launch the generic drug fluoxetine a generic version of eli lilly and company s prozac with 180 day market exclusivity in the usa . prozac had sales in excess of 1 billion per year in the late 1990s . barr laboratories of the u.s. obtained exclusivity for all of the approved dosage forms 10 mg 20 mg except one 40 mg which was obtained by reddy s. lilly had numerous other patents surrounding the drug compound and had already enjoyed a long period of patent protection . the case to allow generic sales was heard twice by the federal circuit court and reddy s won both hearings . reddy s generated nearly 70 million in revenue during the initial six month exclusivity period . with such high returns at stake reddy s was gambling on the success of the litigation ; failure to win the case could have cost them millions of dollars depending on the length of the trial . the fluoxetine marketing success was followed by the american launch of reddy s house branded ibuprofen tablets in 400 600 and 800 mg strengths in january 2003 . direct marketing under the reddy s brand name represented a significant step in the company s efforts to build a strong and sustainable us generic business . it was the first step in building reddy s fully fledged distribution network in the us market . citation needed in 2015 dr. reddy s laboratories bought the established brands of belgian drugmaker ucb sa in south asia for 8 billion rupees 128.38 million . 11 dr. reddy s laboratories also signed a licensing pact with xenoport for their experimental treatment to treat plaque psoriasis . as per the agreement dr. reddy s will be granted exclusive us rights to develop and commercialize xp23829 for all indications for an upfront payment of 47.5 million . 12 american ipo and expansion into europe edit in 2001 reddy s completed its us initial public offering of 132.8 million secured by american depositary receipts . at that time the company also became listed on the new york stock exchange . funds raised from the initial public offering helped reddy s move into international production and take over technology based companies . in 2002 reddy s started its european operations by acquiring two pharmaceutical firms in the united kingdom . the acquisition of bms laboratories and its wholly owned subsidiary meridian uk allowed reddy s to expand geographically into the european market . in 2003 reddy s also invested 5.25 million usd in equity capital into bio sciences ltd. auriegene discovery technologies a contract research company was established as a fully owned subsidiary of reddy s in 2002 . auriegene s objective was to gain experience in drug discovery through contract research for other pharmaceutical companies . reddy s entered into a venture investment agreement with icici bank an established indian banking company . under the terms of the agreement icici venture agreed to fund the development registration and legal costs related to the commercialization of andas on a pre determined basis . upon commercialization of these products dr. reddy s pays icici venture royalty on net sales for a period of 5 years . global expansion edit the company elected to expand globally and acquired other entities . in march 2002 dr. reddy s acquired bms laboratories beverley and its wholly owned subsidiary meridian healthcare for 14.81 million euros . these companies deal in oral solids liquids and packaging with manufacturing facilities in london and beverley in the uk . recently dr. reddy s entered into an r & d and commercialization agreement with argenta discovery ltd. a private drug development company based