Dr. Reddy’s - Growing The Core, Building The Future: ICICI Securities

ICICI Securities Report

Dr. Reddy’s Laboratories Ltd. hosted an investor day call on June 21, 2022. We have summarised the key highlights below:

Dr. Reddy's has devised a two-pronged strategy to drive long-term growth, classified as Horizon 1 and Horizon 2.

Horizon 1 – Growing the core, short-medium term drivers of growth

• US: Grow injectables business and strengthen the over-the-counter segment.

• Europe: Aims to build scale in EU5 (Germany, UK, Spain, France and Italy), targets selective expansion to other markets and more first to market launches.

• India: Build big brands, win in chosen therapies/disease areas through differentiated portfolio and inorganic play, and improve productivity.

• Emerging market: Grow mega brands in Rx and OTC.

Horizon 2 - Building the future, short-long term drivers of growth.

• US: Focus on biosimilar, drug device combinations and immuno-oncology.

• Europe: Aims to grow branded businesses, pioneer into new spaces (eg: pharmaceutical cannabis and scale-up of biosimilars).

• India: Target segments such as nutraceuticals, OTC, biologics and CAR-T, new chemical entity/new biologic entity and disease management.

• Emerging market: Focus on differentiated formulations, nutrition portfolio, biologics, NCE.

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