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Dr Reddy's Laboratories in S. African partnership
Saturday, 08 November 2003, 20:30 IST
JOHANNESBURG: Leading Indian pharmaceutical company Dr Reddy's Laboratories Limited has launched a South African subsidiary in an attempt to bring quality medicine to the country at competitive prices.
Dr Reddy's Limited South Africa will partner with Venturepharm Ltd - a member of the J&J Group of companies headed by Jay Naidoo, a former minister in South Africa's first democratic government, and his namesake, former trade unionist Jay Naidoo.
Venturepharm holds 40 percent and Dr Reddy's 60 percent of the venture.
The new joint venture also aims to create greater markets for Dr Reddy's in sub-Saharan Africa.
Dr Reddy's plans to offer a range of high quality pharmaceutical products to the South Africa's medical fraternity. These will be drawn from the firm's research and development pipeline across a wide range of therapeutic categories.
The Indian corporate will act as the applicant for local registration purposes and will be responsible for distribution, marketing, sales and business development of the pipeline and other selected licensed products.
Dr Reddy's is currently located in the J&J offices here.
K. Satish Reddy, MD of Dr Reddy's, said: "This partnership symbolises the deep commitment that Dr Reddy's brings towards providing affordable healthcare to South Africa and other key markets around the world."
Dr Reddy's is a $380 million global pharmaceutical company, producing and delivering active pharmaceutical ingredients, branded formulations, generic formulations and biotechnology products that are marketed to around 100 countries, including the U.S., in Western Europe and Russia.
Source: IANS
Source: IANS