GlobalData, a data and analytics company, on Friday said that the differenciated approach of Dr. Reddy’s Laboratories (DRL) to its product offerings is a key part of growth strategy in India.
According to the data and analytics company, Dr. Reddy’s Laboratories (DRL) has been strategizing to become a top company in the Indian pharmaceutical market.
The company’s focus is on building strong brands and excelling in selected therapy areas. In line with this goal, the company has been divesting non-core brands that do not align with its growth objectives and acquiring product rights from other companies to strengthen its portfolio, it stated.
Earlier this month, DRL has divested nine dermatology brands to Eris Lifesciences
“DRL’s aim is to be among the top five pharma companies in India. To achieve this, DRL is focusing on various tactics, including building big brands, winning in chosen therapy areas through a differentiated portfolio and inorganic growth,” Prashant Khadayate, Pharma Analyst at GlobalData, said in a statement.
According to GlobalData’s Pharma Intelligence Center, over the past year, Dr. Reddy’s has been involved in five deals related to marketed products in India, consisting of three product divestment deals and two brand rights acquisitions. In April 2022, the company acquired the cardiovascular brand Cidmus (valsartan and sacubitril) from Novartis, which is used to treat heart failure patients. Then, in January 2023, it obtained trademark rights for the breast cancer drug Primcyv (palbociclib) from Pfizer
“DRL is constantly evaluating its portfolio through the lens of core and non-core products. Moreover, it is acquiring product rights from other companies to fill the gap in the portfolio for long-term growth within India. From a therapy focus perspective, cardiovascular and oncology therapy areas would be key to achieve necessary growth in India. The country has a huge population suffering from cardiovascular diseases. Similarly, the oncology market has huge potential to grow due to increased awareness and improved access to drugs,” Khadayate added.