Reddy's labs sales will go up to one billion US dollars

Hyderavad, Jul 26 (UNI) Dr Reddy's Laboratories Limited Chairman Dr K Anji Reddy today announced that the company would achieve one billion dollar worth sales of pharmacutical drugs during this year as against 0.5 billion dollar last year.

Speaking at an international confernece on ''Entrepreneurship and Management (ICEM 2006), organized by the University of Hyderabad here, Dr Reddy said the company's turnover reached Rs 2300 crore last year.

The company has already 500 million dollars property and it would be increased to 800 million dollars by acquiring stakes worth 300 million dollars from Germany and Spanish drug companies this year, he added.

Stating that the leading drug company was operating in 120 countries, Dr Reddy said the company's 50 per cent turnover was from Russia and South East Asia.

UNI AP VV SS1457