Form 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 October 2010
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.
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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 expands portfolio in Russia & CIS through in-licensing deals.
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Agreement with Cipla provides exclusive marketing rights to a portfolio of OTC and prescription products |
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Deal with Vitabiotics gives access to a range of nutraceutical products |
October 25, 2010, Hyderabad
Dr. Reddys Laboratories has entered into an agreement with Cipla limited for exclusive marketing
rights of a portfolio of OTC and prescription products in the Russian and Ukraine markets. As per
the agreement, Dr. Reddys has initiated the sales and promotion of the portfolio of products from
Q2 FY11 in select therapy areas in Russia. Launch in Ukraine to take place next calendar year.
The company has also entered into an agreement with UK based Vitabiotics Ltd. for a range of
nutraceutical products for Russia and select CIS countries. The agreement provides Dr. Reddys
exclusive marketing rights to two of Vitabiotics leading products- Jointace and Dietrim.
Vitabiotics will supply these products on a long term basis from its facilities in Europe.
Commenting on the developments, Satish Reddy, Managing Director and COO, Dr. Reddys said, The
agreements give us access to a good number of Rx products and OTC brands with existing sales that
would immediately add to our revenues from the Russian and CIS market. We see long term synergies
as Dr. Reddys has strong sales & marketing network and our partners have a basket of products
already registered & distributed in these markets. With strong brands, increasing growth in the Rx,
OTC and Hospital segments and our association with top tier distribution partners, the agreements
will only add to our growth ambitions in the Russia & CIS markets.
MV Ramana, Head of Russia & CIS region, Dr. Reddys said, The agreement with Cipla will enhance
Dr. Reddys presence in the OTC space and in therapy areas of Gastroenterology, Dermatology &
Oncology in both Russia & Ukraine. Besides this we will also be promoting Ciplas existing
respiratory care range in Ukraine. The Jointace range will complement Dr. Reddys product
offering in pain management and will help increase our presence in the nutraceutical space while
Dietrim will mark our entry into the weight management area, he added.
Notes to the editor:
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Dr. Reddys is the largest Indian Pharmaceutical company in Russia and also the fastest
growing international branded generic company by volume. |
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Dr. Reddys entered the Russia market in 1992 and consolidated its position during the
turbulent currency crisis of the late 1990s. |
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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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Over 80% of the revenues is generated from the top 4 distributors |
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In FY10 revenues from Russia & other CIS markets were at Rs. 9.1 billion ($203 million)
representing a growth of 20%. Revenues for H1 FY11 were at Rs 5.3 billion ($119 million) |
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.
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About Dr. Reddys
Established in 1984, Dr. Reddys Laboratories (NYSE: RDY) is a global pharmaceutical company. We
fulfill our purpose of providing affordable and innovative medicines through three core businesses:
Pharmaceutical Services and Active Ingredients, Global Generics and Proprietary Products. Our
products are marketed globally, with a focus on India, US, UK, Germany and Russia.
www.drreddys.com
CONTACT INFORMATION
Investors and Financial Analysts:
Kedar Upadhye at kedaru@drreddys.com or on +91-40-66834297
Raghavender R at raghavenderr@drreddys.com or on +91-40-66511529
Milan Kalawadia (USA) at mkalawadia@drreddys.com or on +1-9082034931
Media:
S Rajan at rajans@drreddys.com or on +91-40- 66511725
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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/ Sandeep Poddar
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Date: November 29, 2010 |
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Name: Sandeep Poddar
Title: Company Secretary |
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