Hyderabad, May 20 (UNI) Dr Reddy Labs CEO, G V Prasad today announced the company's foray into the dermatology segment in US in the financial year 2008-09.
Addressing a press conference here, he said the company would go to the US market with three new products for skin diseases. ''This will be the first step in building innovative businesses in the segment in USA,'' he said, adding that three years from now we will be looking for a tie-up in the sector there.
The company had completed the phase one expansion of capacities for the US and Europe market. He, however, ruled out any major acquisition till Betapharm, turned around in FY 08, ''is fully integrated into the organisation.'' Forcasting a 25 per cent growth in revenue and 'significant' improvement in profits in FY 2009, he said its global generic business accounted for Rs 3,302 crore of the Rs 5,000 crore revenue and Active Pharma Ingredients accounted for Rs 1,181 crore. New products contributed to 18 per cent of the revenue growth, he added.
UNI SM GKT 1932