6-K
FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934
For the Month of March 2009
Commission File Number 1-15182
DR. REDDYS LABORATORIES LIMITED
(Name of Registrant)
7-1-27, Ameerpet
Hyderabad, Andhra Pradesh 500 016, India
+91-40-23731946
(Address of Principal Executive Offices)
Indicate by check mark whether registrant files or will file annual reports under cover of Form
20-F or Form 40-F.
Form 20-F þ Form 40-F o
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by
Regulation S-T Rule 101(b)(1):
Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted
solely to provide an attached annual report to security holders.
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by
Regulation S-T Rule 101(b)(7):
Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted
to furnish a report or other document that the registrant foreign private issuer must furnish and
make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled
or legally organized (the registrants home country), or under the rules of the home country
exchange on which the registrants securities are traded, as long as the report or other document
is not a press release, is not required to be and has not been distributed to the registrants
security holders, and, if discussing a material event, has already been the subject of a Form 6-K
submission or other Commission filing on EDGAR.
Indicate by check mark whether by furnishing the information contained in this Form, the registrant
is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the
Securities Exchange Act of 1934.
Yes o No þ
If Yes is marked, indicate below the file number assigned to registrant in connection with Rule
12g3-2(b):
Not applicable.
Table of Contents
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(1) Press Release, Dr. Reddys receives favorable summary judgment ruling in the Omeprazole Mg OTC
litigation, March 12, 2009. |
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(2) Press Release, Dr. Reddys crosses $150 million revenue milestone in Russia & CIS region, March 18, 2009. |
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(3) Press Release, Dr. Reddys Laboratories realigns Global Generics geography portfolio, March 19, 2009. |
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Press
Release
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Dr. Reddys Laboratories Ltd. |
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7-1-27 Ameerpet |
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Hyderabad 500 016 India |
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Tel: 91 40 373 1946 |
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Fax: 91 40 373 1955 |
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www.drreddys.com |
Dr. Reddys receives favorable summary judgment ruling in the Omeprazole Mg OTC litigation
Hyderabad, India, March 12, 2009 Dr. Reddys Laboratories (NYSE: RDY) today announced that the
U.S. District Court (Southern District, New York) has granted a summary judgment that the
Omeprazole Mg OTC ANDA filed by Dr. Reddys does not infringe the patents in suit related to Astra
Zenecas Prilosec OTC®.
Commenting on the judgment, Amit Patel, Head North America Generics, Dr. Reddys, said, We are
very pleased with the favorable summary judgment ruling in the Omeprazole Mg OTC litigation. This
is a key event supporting our strategy to deliver one upside opportunity every year. We have
submitted our ANDA filing and are awaiting FDA response. At this point in time, we will continue
to work through the regulatory approval process while simultaneously progressing manufacturing and
commercialization preparation.
Omeprazole Mg is indicated for the treatment of heartburn and the Dr. Reddys formulation contains
20.6mg Omeprazole Mg (Salt). The Prilosec OTC® brand product has annual sales of approximately $362
million in the United States, based on IRI sales data as of July 13, 2008.
Disclaimer
This press release includes forward-looking statements, as defined in the U.S. Private Securities
Litigation Reform Act of 1995. We have based these forward-looking statements on our current
expectations and projections about future events. Such statements involve known and unknown risks,
uncertainties and other factors that may cause actual results to differ materially. Such factors
include, but are not limited to, changes in local and global economic conditions, our ability to
successfully implement our strategy, the market acceptance of and demand for our products, our
growth and expansion, technological change and our exposure to market risks. By their nature, these
expectations and projections are only estimates and could be materially different from actual
results in the future.
About Dr. Reddys
Established in 1984, Dr. Reddys Laboratories (NYSE: RDY) is an emerging global pharmaceutical
company whose purpose is providing affordable and innovative medicines for healthier lives. Dr.
Reddys is vertically integrated with a presence across the pharmaceutical value chain through its
core businesses of Global Generics, Pharmaceutical Services & Active Ingredients (PSAI), and
Proprietary Products, which includes New Chemical Entities, Biosimilars, Specialty and
Differentiated formulations. The companys products are marketed globally, with a focus on India,
US, Europe and Russia. For further information please see: www.drreddys.com
For
more information please contact:
Investors and Financial Analysts:
Kedar Upadhye at kedaru@drreddys.com /+91-40-66834297
Raghavender R at raghavenderr@drreddys.com /+91-40-66511529
Milan Kalawadia (North America) at mkalawadia@drreddys.com or at 001-908-203-4931
Media:
Mythili M at mythilim@drreddys.com / +91-40-66511620
Rajan S at rajans@drreddys.com / +91-40- 66511725
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Press Release
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Dr. Reddys Laboratories Ltd. |
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7-1-27 Ameerpet |
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Hyderabad 500 016 India |
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Tel: 91 40 373 1946 |
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Fax: 91 40 373 1955 |
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www.drreddys.com |
Dr. Reddys crosses $150 million revenue milestone in Russia & CIS region
Hyderabad, India, March 18, 2009 - Dr. Reddys Laboratories (NYSE: RDY) today announced that it has
crossed the milestone of $150 million of revenues in the Russia/CIS region for the fiscal year
2009. This milestone is a result of the efforts in building a branded franchise, cementing strong
customer relationships and partnering with trade channels over last several years.
Dr. Reddys entered the Russia market in 1992 and consolidated its position during the turbulent
currency crisis of the late 1990s. Today Dr. Reddys is the largest Indian Pharmaceutical company
in Russia and is also the fastest growing international branded generic company by volume.
Commenting on the growth story, M V Ramana, Head-Russia & CIS Operations, Dr. Reddys said The
company has been growing rapidly over the last several years with revenues of $80 mn, $110 mn and
$138 mn in the fiscal years 2006, 2007 and 2008 respectively in the Russia/CIS region. During the
11 months ended February 2009, the year-on-year revenue growth rate in Russia / CIS was a healthy
~24% in USD terms and we hope to maintain this growth and manage receivables pro-actively. The
company has further reduced the receivable days (DSO) in Russia since December 2008. With almost
80%+ of the revenues generated from the top 4 distributors, the product portfolio is well
penetrated geographically and enjoys good availability in the pharmacies.
With our strong presence in Russia over the past 15 years backed by leading branded generic
products, we are deeply committed to this market. We are confident of tackling the challenges posed
by the macroeconomic factors in the country as the branded generic and generic segments in Russia &
CIS are relatively defensive to these factors. With strong brands, sustained growth in the OTC
segment and our association with top tier distribution partners, we are confident on meeting the
growth expectations in Russia and CIS, said Satish Reddy, MD & COO, Dr. Reddys.
Notes to the Editor:
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Dr. Reddys is ranked 7th among generic companies in Russia as on February
2009 as per Russian market research firm pharmexpert. |
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Omez®, Nise®, Ketorol® & Ciprolet® are our top four brands in the Russian market and are
ranked No. 1 in their respective INN / molecular segments. |
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The revenue milestone of $150mn and YoY growth rate of 24% mentioned above is based on
invoicing as per average foreign currency rates for the period excluding any impact due to
cash flow hedging. |
Disclaimer
This press release includes forward-looking statements, as defined in the U.S. Private Securities
Litigation Reform Act of 1995. We have based these forward-looking statements on our current
expectations and projections about future events. Such statements involve known and unknown risks,
uncertainties and other factors that may cause actual results to differ materially. Such factors
include, but are not limited to, changes in local and global economic conditions, our ability to
successfully implement our strategy, the market acceptance of and demand for our products, our
growth and expansion, technological change and our exposure to market risks. By their nature, these
expectations and projections are only estimates and could be materially different from actual
results in the future.
About Dr. Reddys
Established in 1984, Dr. Reddys Laboratories (NYSE: RDY) is an emerging global pharmaceutical
company whose purpose is providing affordable and innovative medicines for healthier lives. Dr.
Reddys is vertically integrated with a presence across the
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pharmaceutical value chain through its core businesses of Global Generics, Pharmaceutical Services
& Active Ingredients (PSAI), and Proprietary Products, which includes New Chemical Entities,
Biosimilars, Specialty and Differentiated formulations. The companys products are marketed
globally, with a focus on India, US, Europe and Russia. For further information please see:
www.drreddys.com
For more information please contact:
Investors and Financial Analysts:
Kedar Upadhye at kedaru@drreddys.com /+91-40-66834297
Raghavender R at raghavenderr@drreddys.com /+91-40-66511529
Milan Kalawadia (North America) at mkalawadia@drreddys.com or at 001-908-203-4931
Media:
Mythili M at mythilim@drreddys.com / +91-40-66511620
Rajan S at rajans@drreddys.com / +91-40- 66511725
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Press
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Dr. Reddys Laboratories Ltd. |
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7-1-27 Ameerpet |
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Hyderabad 500 016 India |
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Tel: 91 40 373 1946 |
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Fax: 91 40 373 1955 |
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www.drreddys.com |
Dr. Reddys Laboratories realigns Global Generics geography portfolio
Hyderabad, India, March 19, 2009 - Dr. Reddys Laboratories announced that it has realigned its
Global Generics finished dosages strategy to focus on certain key geographies and would gradually
exit some of the very small distributor driven markets. The markets being exited would have an
overall contribution of less than 1% to the topline. In addition to the US, India, Russia & CIS and
Germany where the operations are already very large contributing to approx 90% (fig. for 9 months
ended Dec 2008) of the Global Generics revenues, the company will continue operations in 10-15
markets wherein the companys finished dosages sales are growing significantly.
This move represents an important new focus in the Global Generics business to consolidate and grow
the Companys presence in the key geographies where it already has a considerable presence. The
exercise would result in reduction of complexity of operations on one hand and help in
significantly enhanced customer service and market share on the other.
Outlining the rationale behind this move, Satish Reddy, MD and COO, Dr. Reddys said, We intend to
aggressively step up our presence in our key markets with this strategic prioritization. The market
prioritization exercise would lead to redeployment of resources within the organization. The
company will however continue to scan opportunities and attractiveness of international markets in
line with its business strategy.
About Dr. Reddys
Established in 1984, Dr. Reddys Laboratories (NYSE: RDY) is an emerging global pharmaceutical
company with proven research capabilities. The Company is vertically integrated with a presence
across the pharmaceutical value chain. It produces finished dosage forms, active pharmaceutical
ingredients and biotechnology products and markets them globally, with focus on India, US, Europe
and Russia. The Company conducts research in the areas of cancer, diabetes, cardiovascular,
inflammation and bacterial infection. For further information please
see: www.drreddys.com
Disclaimer
This press release includes forward-looking statements, as defined in the U.S. Private Securities
Litigation Reform Act of 1995. We have based these forward-looking statements on our current
expectations and projections about future events. Such statements involve known and unknown risks,
uncertainties and other factors that may cause actual results to differ materially. Such factors
include, but are not limited to, changes in local and global economic conditions, our ability to
successfully implement our strategy, the market acceptance of and demand for our products, our
growth and expansion, technological change and our exposure to market risks. By their nature, these
expectations and projections are only estimates and could be materially different from actual
results in the future.
For more information please contact:
Investors and Financial Analysts:
Nikhil Shah at nikhilshah@drreddys.com or on +91-40-66511532
Milan Kalawadia (North America) at mkalawadia@drreddys.com or at 908-203-4931
Media:
M Mythili at mythilim@drreddys.com or on +91-40-66511620.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused
this report to be signed on its behalf by the undersigned, thereunto duly authorized.
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DR. REDDYS LABORATORIES LIMITED
(Registrant)
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By: |
/s/ V.S. Suresh
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Date: April 3, 2009 |
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Name: |
V.S. Suresh |
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Title: |
Company Secretary
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