DOCSLIB.ORG

A Powerful Belief in People Runs Through Dr. Reddy's

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
A Powerful Belief in People Runs Through Dr. Reddy's CONTENTS CHAIRMAN’S LETTER 2 SECRETARIAL AUDIT REPORT 74 KEY FINANCIAL 4 DIRECTORS’ REPORT 76 HIGHLIGHTS IGAAP STANDALONE THE CREATIVE SPIRIT 6 FINANCIAL STATEMENTS 87 BUSINESS RESPONSIBILITY 16 IGAAP CONSOLIDATED REPORT FINANCIAL STATEMENTS 141 MANAGEMENT DISCUSSION 32 EXTRACT OF AUDITED & ANALYSIS IFRS CONSOLIDATED FINANCIAL STATEMENTS 191 BOARD OF DIRECTORS 44 STATEMENT PURSUANT MANAGEMENT COUNCIL 48 TO SECTION 212 OF THE COMPANIES ACT, 1956 194 CORPORATE GOVERNANCE 50 INFORMATION ON THE ADDITIONAL SHAREHOLDERS’ 63 FINANCIALS OF SUBSIDIARY 195 INFORMATION COMPANIES FIVE YEARS AT A GLANCE 72 NOTICE OF THE ANNUAL GENERAL 196 MEETING RATIO ANALYSIS 73 chairman’s LETTER Dear Shareholders, On 15 March 2013, we lost Dr. K Anji Reddy, Founder Chairman of your Company. You know what a great visionary he was, and the energy and zeal with which he built this Company. The finest tribute that we can pay to him is to continue along the path of profitable growth, be recognized as a best-in-class global pharmaceuticals major, keep building deep science, technology and R&D skills, and continually innovate to improve the lives of patients around the world. et me begin by touching upon the of the Pharmaceutical Services and Active L results for FY2013, and then move Ingredients (PSAI) segment on to describing some key developments Earnings before interest, taxes, which should play their role in defining the depreciation and amortization (EBITDA) trajectory of your Company over the next grew by 9.5% to R27.8 billion, or 24% of few years. consolidated revenues The consolidated revenue of your Profits after tax (PAT) adjusted for Company for FY2013 was R116.3 billion, impairment of intangibles and its and recorded a year-on-year growth of corresponding tax impact increased 20%. In terms of US dollars, this amounted by 17% to R17.6 billion, or 15% of to USD 2.23 billion (based on an average consolidated revenues realized rate of 1 USD = R52.10) During FY2013, your Company globally This growth was primarily driven by North launched 104 new generic products, and America and Emerging Markets in Global filed 56 newproduct registrations and 47 Generics; and by the overall performance new drug master files (DMFs) 2 DR. REDDY’S LABORATORIES LIMITED ANNUAL REPORT 2012-13 Revenue from Global Generics for FY2013 We are selecting the right products—namely, biopharmaceuticals and chemical increased by 18% to R82.6 billion—of those with great therapeutic upsides and compounds. The partnership is to co-develop which North America accounted for R37.8 having significant technical challenges—so and globally commercialize a portfolio of billion, with a growth of 19%. If one as to carve high quality niches and also create biosimilar compounds in oncology, primarily were to exclude the beneficial impact of technology-based future barriers to entry. focused on monoclonal antibodies (MAbs). olanzapine exclusivity of the earlier year and And we are successfully manufacturing compare like-to-like, the growth was 38%. them. All these are parts of an exciting, yet complex Several new product launches contributed journey. On occasions, the path will be significantly to revenues. We are building deep science and technology difficult, as it must since the payoffs are Global Generics also performed well skills—both in-house and through global so much greater. However, we have with in Emerging Markets with a 31% top-line R&D partnerships. We have our own R&D us—and are constantly creating—a world growth and R22.4 billion of revenue. Each presence in some of the leading innovation class global management team to execute key market—Russia, CIS, and the Rest of the centers of the world: these challenging goals. Through our people, World territories—grew impressively. At the Chirotech Technology Center in we will continue to focus on safety, quality, I am especially pleased with Global Cambridge, UK, which is a Center of productivity and supply chain reliability Generics’ Indian revenues. After some years Excellence (CoE) for catalysis and flexibility. These initiatives, along with of difficulties, your Company has stepped up At OctoPlus in Leiden, Netherlands, our investments in R&D, biosimilars and its Indian operations. This has led to a 13% which your Company acquired in FY2013. proprietary products should help deliver growth in the generics revenue, which rose OctoPlus has significant in-house expertise good growth and healthy shareholder to R14.6 billion. This business must continue in the development and creation of returns. growing and doing well. micro-spheres and liposomes that enhance I thank my colleagues and fellow The PSAI business has also done well. and enable controlled release of active employees for all that they do—day in and Revenue grew by 29% to R30.7 billion, pharmaceutical ingredient into humans. out—to better the performance of your mostly on increased sales to generic It is also well known for formulating Company. And my thanks to you for your customers, greater lock-ins and larger orders complex injectables good wishes. in the custom pharmaceuticals services At Princeton, USA, which is a CoE for business. developing oral solid dosages With best regards, In our search for alternate molecules as well Let me now move on to a few key areas as dosage forms like injectables, topicals, of importance. patches and inhalers, we have created R&D Over the foreseeable future, double- partnerships with several other entities, digit growth with appropriate returns on both abroad and in India—including our G V PRASAD capital will depend upon your Company’s subsidiary Aurigene and Dr. Reddy’s Institute CHAIRMAN AND CHIEF EXECUTIVE OFFICER ability to consistently succeed in introducing of Life Sciences. differentiated and hard-to-produce medicine in global markets. This involves excellence Our biosimilars play is a major investment in several elements: (i) the right choice of for the future. These products give us the molecules; (ii) Quality by Design (QbD); opportunity to provide affordable and (iii) creating global R&D partnerships; innovative medicines to patients across (iv) having top class manufacturing the globe. It is clear that any significant operations which not only meet all global pharmaceutical player will need strong standards but also ensure that all launch biologics development, manufacturing dates are met with success; (v) successful and commercialization capabilities. Your plays in biosimilars and proprietary products; Company already has successfully produced and (vi) building a best-in-class leadership four biosimilars: (i) rituximab called team that is always hungry for victory. RedituxTM, which has been in India for more We have started getting our early than five years, (ii) filgrastim, called Grafeel® successes on these fronts. In large measure, (iii) darbepoetin alpha called Cresp®, and your Company’s good business results in (iv) peg-filgrastim, which goes under the FY2013 are due to appreciable improvements name of Peg-Grafeel®. made in operations—building on a company- To further strengthen biosimilars, the wide consolidated theme of ‘Safety, Quality Company entered into an alliance with and Productivity’. As an example, in the year, Merck Serono, a division of Merck KGaA, products worth over USD 310 million were Darmstadt, Germany in June 2012. Merck developed based on the principles of Quality KGaA is a global pharmaceutical company by Design. This will increase appreciably over with proven expertise in developing, the future. manufacturing, and commercializing CHAIRMAN'S LETTER 3 KEY FINANCIAL HIGHLIGHTS CONSOLIDATED 31 March 2013, the company CONSOLIDATED PROFIT AFTER REVENUES had cumulative filings of 577 REVENUE TAX Consolidated revenues DMFs. IN K MILLION IN K MILLION increased by 20% to R116,266 million that is $2.23* billion in BUSINESS PERFORMANCE Growth Growth FY2013 from R96,737 million GLOBAL GENERICS in FY2012. Global Generics segment grew by 18% to R82,563 million in 20% 18% EBITDA FY2013 from R70,243 million EBITDA increased by 9.5% to in FY2012. Excluding the R Growth As a 27,819 million in FY2013 from beneficial impact of Olanzapine R 25,409 million in FY2012. exclusivity from FY2012 excluding percentage revenues, the year-on-year olanzapine of sales PROFIT AFTER TAX growth was 26%. Net profit of R16,776 million in impact R FY2013 from 14,262 million in Revenue from North America FY2012, a growth of 18%. grew by 19% to R37,846 million 26% 14% in FY2013 from R31,889 million FULLY DILUTED EARNINGS in FY2012. Excluding the PER SHARE. beneficial impact of olanzapine Fully diluted earnings per share exclusivity from FY2012 increased to R98.4 in FY2013 revenues, the year-on-year 116,266 from R83.8 in FY2012, a growth growth was 38%. of 17%. 16,776 Revenue from Russia and other 96,737 ANDAS IN US CIS countries grew by 28% to Dr. Reddy’s made 19 US filings R16,908 million in FY2013 from which include one NDA filing 14,262 R under section 505(b)(2) and 13,260 million in FY2012. 18 ANDA filings, bringing our cumulative ANDA filings to India showed a revenue growth R 200. As of 31 March 2013, the of 13% to 14,560 million in R company’s ANDA pipeline has FY2013 from 12,931 million in 65 ANDAs pending approval FY2012. with the US FDA, of which 38 are Paragraph IV filings and we PHARMACEUTICAL SERVICES believe eight to have first to & ACTIVE INGREDIENTS file status. Revenues grew by 29% to R30,702 million from R23,812 DMFS million in FY2012. This growth The company filed 47 DMFs in was largely driven by new FY2013. Of these 5 were filed in product launches to generic 2012 2013 2012 2013 the US, 10 in Europe and 32 in customers and improved other countries. As of customer orders. *US dollar revenues based on an average realized USD rate of 1 USD = I52.10 4 DR.
Load more

Recommended publications
  • Skillv/Smanagement
    Vol:1 | Issue 3 | October 2014 For Private Circulation Only PAGES 60 ‘Andhra Pradesh gives importance to PPP model for tourism development’ Chandana Khan IAS Special Chief Secretary, Tourism & Culture, Archaeology & Museums, Archives & Youth Services & Sports, NCC, Govt. of AP Page no 45 Page no 24 HYDERABAD Trying to Regain the Lost Ground The Land of Royals and Heritage Page no 20 ‘We are trying to create a global tourism destination through the Spice Route’ P I Sheik Pareeth (IAS) Director, Kerala Tourism Page no 50 Owner-Manager relationship: Page no 10 Are Indian owners becoming assertive? New Executive Committee Members (2014-15) of SIHRA elected during the 63rd AGM, held in Chennai When students decide to step into the hospitality industry, the first thing they do is enroll into an IHM and attain the hospitality management Page no 30 degree. Each year, hundreds of students graduate out of IHMs where students are equipped to be Kerala Tourism: Unveiling managers. Does the hospitality industry really need so many managers or do they need skill- Hidden Treasures based professionals? Page no 38 Skill v/sManagement Need to revisit our priorities Page no 48 SIHRA NEWS | OCTOBER 2014 3 EDITOR & COO* Sheldon Santwan Head-Editorial Operations & Special Projects Content Sumit Jha Assistant Editor P Krishna Kumar 07 | Editor's Desk EDITORIAL BOARD - SIHRA Honorary Secretary 08 | News Round-up T Nataraajan Advisor 16 | FH RAI Annual Convention 2014: R Rangachari Secretary General An effort to make the Industry Voice Elina Maller Heard EDITORIAL
    [Show full text]
  • Activity Report 2009 – 2010
    Activity Report 2009 – 2010 L V Prasad Eye Institute Kallam Anji Reddy Campus L V Prasad Marg, Banjara Hills Hyderabad 500 034, India Tel: 91 40 3061 2345 Fax: 91 40 2354 8271 e-mail: [email protected] L V Prasad Eye Institute Patia, Bhubaneswar 751 024 Orissa, India Tel: 91 0674 3989 2020 Fax: 91 0674 3987 130 e-mail: [email protected] L V Prasad Eye Institute G M R Varalakshmi Campus Door No: 11-113/1 Hanumanthawaka Junction Visakhapatnam 530 040 Andhra Pradesh, India Tel: 91 0891 3989 2020 Fax: 91 0891 398 4444 L V Prasad Eye Institute e-mail: [email protected] Excellence • Equity • Effi ciency Art with vision, for vision Artist-in-residence Sisir Sahana in his workshop on A view of the Art Gallery on Level 6 at Hyderabad LVPEI’s Kallam Anji Reddy campus, Hyderabad creating campus, where several works by Mr Surya Prakash, one of his signature glass sculptures. Inset: A piece from our senior artist-in-residence are on display. his latest collection, entitled “The long climb”. Inset: The hand that wields the paintbrush! L V Prasad Eye Institute Committed to excellence and equity in eye care Activity Report April 2009 – March 2010 Collaborating Centre for Prevention of Blindness L V Prasad Eye Institute, a not-for-profi t charitable organization, is governed by two trusts: Hyderabad Eye Institute and Hyderabad Eye Research Foundation. Donations to Hyderabad Eye Research Foundation are 175% exempt under section 35 (i) (ii) and donations made to Hyderabad Eye Institute are 50% exempt under section 80G of the Income Tax Act.
    [Show full text]
  • Certificate No: VD-CA-0819
    Certificate No: VD-CA-0819 Certificate This is to certify that Gemalto, Cuernavaca, Mexico has participated in the GSM Association Security Accreditation Scheme for UICC Production (SAS-UP) and satisfied the scheme’s requirements. This certificate remains valid until the end of August 2019. Alex Sinclair Chief Technology Officer GSMA Check certificate validity: A list of accredited sites is published on the GSM Association website at www.gsma.com/sas/ s Scope of Certification To be viewed in conjunction with Security Accreditation Scheme Certificate No: VD-CA-0819 Production Site: Gemalto Calle 9 Este #192, Ciudad Industrial del Valle de Cuernavaca (Civac), Jiutepec, Morelos, C.P. Site Address: 62578, Mexico Following audit of this UICC production site against the requirements of v8.0 of the SAS Standard and v2.0 of the SAS Consolidated Security Requirements, the auditors are pleased to recommend certification with the following scope: Generation of data for UICC personalisation: Within audit scope (all form factor UICCs) UICC personalisation: Within audit scope (card form factor UICCs) Processing of data for subscription management: Within audit scope (all form factor UICCs); Value-added fulfilment of UICCs: Within audit scope (card form factor Provisional certification only. UICCs) Outsourcing: The management of network security for the production network at Exclusions: There are no exclusions for this site. Gemalto, Cuernavaca is carried out as part of the corporate MSC These activities were These activities were outsourced and not subject solution (audited and certified separately). excluded from the scope to review by the auditors of the audit The auditors were provided with appropriate evidence that the processes and controls at the time of certification were consistent with those required by the SAS-UP Standard.
    [Show full text]
  • View Annual Report
    CONTENTS CHAIRMAN’S LETTER DEAR SHAREHOLDERS FY2012 has been a good year for your Company. The key financial results were: ¥ Consolidated revenues increased by 30% to Rs. 96.7 billion in FY2012. ¥ Earnings before interest, taxes, depreciation and amortization (EBITDA)1 rose by 55% to Rs. 25.4 billion. ¥ Profit after Tax (PAT)2 grew by 45% to Rs. 15.3 billion. ¥ Diluted Earnings per Share (EPS) increased from Rs. 64.9 in FY2011 to Rs. 83.8 in FY2012. I am particularly delighted by four developments. First, your Company succeeded in yet another blockbuster generic launch in the USA under 180- days marketing exclusivity. Dr. Reddy’s launched olanzapine 20 mg tablets, the generic version of the brand Zyprexa®. Olanzapine is used to treat schizophrenia and bipolar disorder. This product has added around USD 100 million to your Company’s revenues for FY2012. Second, the biosimilars business continues along its impressive growth path. In my letter to you last year, I had discussed the critical importance of developing biosimilars in the years to come. I am happy to note that your Company’s global biosimilars business grew by 45% over last year and recorded sales of USD 26 million. Today, the biosimilars portfolio of Dr. Reddy’s constitutes (i) filgrastim, (ii) peg-filgrastim, (iii) rituximab and (iv) darbepoetin alfa, which have commercial presence in 13 countries among emerging markets. These are helping to treat patients suffering from cancer — and at prices that are significantly more affordable than the corresponding innovator drugs. Soon, I expect to see Dr. Reddy’s biosimilars entering developed markets.
    [Show full text]
  • An Exploration of the Institutions, Characteristics and Drivers of Elite Philanthropy in India
    Swinburne University of Technology Faculty of Business & Law DRAFT An exploration of the institutions, characteristics and drivers of elite philanthropy in India John Godfrey BA, MSc, Grad. Dip Arts Admin Student ID 1700367 Submitted in fulfilment of the requirements for the degree of Doctor of Philosophy. Swinburne University of Technology, Faculty of Business & Law. Year of approval for award 2020. Abstract This thesis fills a gap in the empirical study of elite philanthropy which to date has been confined to mostly Western philanthropy, informed by Christian and Jewish norms and traditions. This research explores a tradition and practice of philanthropy which has its early roots in dharmic and Islamic tradition yet, as is shown, has been influenced by Western rules and norms. Twenty-eight philanthropists were interviewed. The two religions these respondents most identified with were Hindu or Parsi, though some identified as Jain, Muslim, Christian or Buddhist. The research applies a theoretical framework described as a moral citizenship. This framework brings together two theoretical models developed by Schervish - identification theory and moral biography (Schervish et al. 1998; Schervish and Havens 1997; Schervish and Havens 2001b, 2002; Schervish and Herman 1988; Schervish et al. 2001). These models, they argue, provide the most fruitful way to identify the social and psychological frameworks that mobilise the agency of philanthropists. The methodology used to apply this theoretical framework used long interviews in which respondents were given free rein to talk about their philanthropic activity in their own terms. This methodology follows in the steps of others such as Breeze and Lloyd (2013), Lloyd (2004), Odendahl (1990), Ostrower (1995), Panas (1984, 2019 [1984]), Scaife et al.
    [Show full text]
  • Morelos | Minneapolis
    MIGRATION FROM MORELOS TO MINNESOTA: BUILDING BROADER COMMUNITIES IN THE AMERICAS Adriana Martínez Rodríguez Samuel Rosado Zaidi Fundación Comunidad Morelos Minneapolis Foundation Building Broader Communities in the Americas November 2020 Migration from Morelos to Minnesota: Building Broader Communities in the Americas Final Research Report, 2019-2020 Research, analysis and text: Adriana Martínez Rodríguez and Samuel Rosado Zaidi, Colectivo Multidisciplinario por las Alternativas Locales (COMAL) Fundación Comunidad, A.C. Humboldt 46-B, Cuernavaca, Centro, Centro, CP 62000, Morelos. Teléfono 777 314 1841 www.comunidad.org.mx The Minneapolis Foundation 800 IDS Center, 80 S Eighth Street Minneapolis, MN 55402 www.minneapolisfoundation.org The Inter-American Foundation 1331 Pennsylvania Ave. NW Suite 1200 North Washington, DC 20004 www.iaf.gov/es/ This Report was possible thanks to the generous support of the Building Broader Communities in the Americas Initiative, The Minneapolis Foundation and Fundación Comunidad, A.C. Cover photography: Los tikuanes de Xoxo, by Emanuel Deonicio Palma. Expert consulting: Dr. Ana Alicia Peña López, Faculty of Economics, National Autonomous University of Mexico. Editorial design and edition: Octavio Rosas Landa R. Translation from Spanish: Beatriz Álvarez Klein, Jana Schroeder, Pepe Osorio Gumá and Evelyn Arón. The English language translation was approved by Fundación Comunidad Morelos and BBCA Initiative. We thank the 6th semester Social Work students from the Social Studies Faculty at Temixco, Morelos, for making this project their own. They were in charge of the interviews in the state of Morelos, so this Report is also a result of their professional commitment. We thank Emanuel Deonicio Palma, from Yankuik Kuikamatilistli, for his creative inspiration and for granting permis- sion for the use of some of his photographic work in this Report.
    [Show full text]
  • Cancer Kills Indian Drug Pioneer, Anji Reddy, at 72
    Cancer kills Indian drug pioneer, Anji Reddy, at 72 18 March 2013 | News | By BioSpectrum Bureau Bangalore: Dr Kallam Anji Reddy, the founder and chairman of the $2 billion Indian pharma giant, Dr Reddy's Laboratories (DRL), died of cancer in Hyderabad at the age of 72 on March 15, 2013. Dr Reddy's mission in life was to provide innovative new medicines at a price that the common man could afford. His passion for research is evident from the fact that Dr Reddy's Laboratories became the first pharmaceutical company of India to initiate basic drug discovery research in 1993. He obtained his BSc in pharmaceutical science and fine chemicals from Bombay University and his PhD in chemical engineering from National Chemical Laboratory, Pune. He served in the state-owned IDPL before he founded DRL in 1984. Dr Reddy also set-up the Institute of Life Sciences and in 1998, set up the Naandi Foundation as a charitable trust. Naandi is probably India's largest rural safe drinking water provider, and gives midday meals to 1.3 million government school-going children and farmers. He also spearheaded and founded the Neo Natal Intensive Care and Emergencies called NICE Foundation, the only institute for newborns in Asia. Dr Reddy won several eminent accolades throughout his career, the most prominent being the Padma Bhushan (one of the highest civilian awards in India), which was awarded to him by the Government of India in April 2011 in recognition of his distinguished service of high order in the field of trade and industry.
    [Show full text]
  • Iam Delighted to Present the Annual Report Of
    From the Director’s Desk am delighted to present the Annual Report of the &Communications were planned. One may recall that Indian Statistical Institute for the year 2018-19. This on June 29, 2017, the then Hon’ble President of India, I Institute that started its journey in December 1931 in Shri Pranab Mukherjee, had inaugurated the 125th Birth Kolkata has today grown into a unique institution of higher Anniversary Celebrations of Mahalanobis. learning spread over several cities of India. The Institute, founded by the visionary PC Mahalanobis, continues It is always a delight to inform that once again the its glorious tradition of disseminating knowledge in Institute faculty members have been recognized both Statistics, Mathematics, Computer Science, Quantitative nationally and internationally with a large number of Economics and related subjects. The year 2018-19 saw honors and awards. I mention some of these here. In the formation of the new Council of the Institute. I am 2018, Arunava Sen was conferred the TWAS-Siwei Cheng delighted to welcome Shri Bibek Debroy as the President Prize in Economics and Sanghamitra Bandyopadhyay of the Institute. It is also a privilege that Professor was conferred the TWAS Prize Engineering Sciences in Goverdhan Mehta continues to guide the Institute as the Trieste, Italy. Arup Bose was selected as J.C. Bose Fellow Chairman of the Council. for 2019-2023 after having completed one term of this fellowship from 2014 to 2018. Nikhil Ranjan Pal was The Institute conducted its 53rd Convocation in January appointed President, IEEE Computational Intelligence 2019. The Institute was happy to have Lord Meghnad Society.
    [Show full text]
  • CTRI Trial Data
    PDF of Trial CTRI Website URL - http://ctri.nic.in Clinical Trial Details (PDF Generation Date :- Sun, 26 Sep 2021 17:25:46 GMT) CTRI Number CTRI/2019/05/019097 [Registered on: 13/05/2019] - Trial Registered Prospectively Last Modified On 25/02/2020 Post Graduate Thesis No Type of Trial Interventional Type of Study Biological Study Design Randomized, Parallel Group, Multiple Arm Trial Public Title of Study Comparing the Efficacy and Safety of Xlucane Versus Lucentis® in Patients requiring treatment of wet AMD Scientific Title of Xplore: A Phase III Double-Blind, Parallel Group, Multicenter Study to Compare the Efficacy and Study Safety of Xlucane versus Lucentis® in Patients with Neovascular Age-Related Macular Degeneration Secondary IDs if Any Secondary ID Identifier 2018-002930-19 EudraCT XBR1001 Version 2.0 dated 27 Nov 2018 Protocol Number Details of Principal Details of Principal Investigator Investigator or overall Name Dr Prabhati Mukherji Trial Coordinator (multi-center study) Designation Associate Medical Director Affiliation Kendle India Pvt. Ltd. Address Building No 14, Tower B, 14th Floor, DLF Cyber City, Phase III, Gurgaon HARYANA 122001 India Phone Fax Email [email protected] Details Contact Details Contact Person (Scientific Query) Person (Scientific Name Dr Prabhati Mukherji Query) Designation Associate Medical Director Affiliation Kendle India Pvt. Ltd. Address Building No 14, Tower B, 14th Floor, DLF Cyber City, Phase III, HARYANA 122001 India Phone Fax Email [email protected] Details
    [Show full text]
  • Title DRL AR2017 Kala.Indd
    DR. REDDY’S LABORATORIES LIMITED LABORATORIES REDDY’S DR. | ANNUAL REPORT 2016-17 REPORT ANNUAL | Accelerating Access to Good Health Accelerating Dr. Reddy’s Laboratories Ltd. 8-2-337, Road No. 3, Banjara Hills, Hyderabad 500 034, India www.drreddys.com WorldReginfo - 5502bfe9-a82e-4c15-b138-9279dbb2197a “If you point to one single factor that made us what we are today, it is serving the poorest of the poor. It has actually made us prosperous. Of course, we didn’t stop there. And we continue to bring affordable medicines to people.” Dr. K Anji Reddy WorldReginfo - 5502bfe9-a82e-4c15-b138-9279dbb2197a CORPORATE OVERVIEW In This Report Corporate Overview Statutory Reports Financial Statements Letter from Chairman 02 Business responsibility 22 Standalone fi nancial 97 & Co-Chairman report statements (Ind AS) Our businesses 04 Management discussion 34 Consolidated fi nancial 167 Key performance indicators 06 and analysis statements (Ind AS) Accelerating access to 07 Five years at a glance 46 Extract of audited IFRS 247 Good health and ratio analysis consolidated fi nancial statements Case study 1 08 Corporate governance 48 Case study 2 10 report Glossary 250 Case study 3 12 Additional shareholders’ 64 Notice of the annual 251 Case study 4 14 information general meeting Board of directors 16 Board’s report 75 Management council 20 Our Promises Our fi ve promises clarify what we do, what we offer and the commitments we make to our stakeholders. Our patients trust our medicines. We focus our energies on renewing this trust every day. As we keep the interests of our patients at the centre of all that we do, our promises drive us to reach higher levels of excellence.
    [Show full text]
  • Chapter 2 Promoting Inclusive Growth in Morelos
    2. PROMOTING INCLUSIVE GROWTH IN MORELOS – 95 Chapter 2 Promoting inclusive growth in Morelos This chapter provides an overview of the economic and social policies in the state of Morelos that are most related to human capital issues including an assessment of education, labour market training and innovation policy priorities in the region. Education and training policies should be pursued to improve social cohesion and productivity in the state. They should seek to attain inclusive growth by increasing student education performances and improving the alignment of skills supply with skills demand. Investing in innovation is also critical to regional competitiveness. Morelos should better mobilise its innovation infrastructure for knowledge diffusion and exploitation. A final section is dedicated to the newly-created Council for Human Capital, a regional governance body aiming to address the interconnectedness of such policy challenges and promote an integrated vision of regional development. Each policy domain is evaluated to support the state government of Morelos into building on opportunities and enhance the region’s economic development, learning from OECD best practices and policy recommendations. OECD TERRITORIAL REVIEWS: MORELOS, MEXICO © OECD 2017 96 – 2. PROMOTING INCLUSIVE GROWTH IN MORELOS 2.1 Introduction The current priority of the state of Morelos is to boost regional economic development and inclusive growth through a strong investment in human capital. A skilled human capital is at the essence of regional development and competitiveness. A region that benefits from a high-skilled workforce able to learn, create knowledge and rapidly adapt to changing labour demands and technologies will be able to use those skills to drive innovation and achieve a sustainable form of economic growth.
    [Show full text]
  • Dr Kallam Anji Reddy: the Man Who Introduced India to the Drug Called Innovation
    Dr Kallam Anji Reddy: The man who introduced India to the drug called innovation By Gauri Kamath Dr Kallam Anji Reddy, founder of Hyderabad-based drugmaker Dr Reddy's Laboratories (DRL) and pioneering pharma entrepreneur who passed away on March 15, loved a challenge. This son of a turmeric farmer from Andhra Pradesh was in his element when faced with a seemingly intractable problem or hopeless cause. Whether it was discovering a breakthrough new drug for diabetes in his company's labs, or supplying safe drinking water to rural India through Naandi, the philanthropic organisation that he helped found, Reddy was always ready to pick up the gauntlet. Life did full justice to his enterprising spirit — it threw several challenges his way all of which he gamely tackled. What stood Reddy in good stead were his incurable optimism, his passion, his trust-and-delegate management style, and his ability to continuously seek inspiration. Imitation to Innovation Of the first two there is ample evidence through his career. In the 1980s, when the homegrown private sector was not the dominant force in pharmaceuticals that it is today, his fledgling drug company embarked on the road to reverse-engineer the best-known drugs of western multinationals (MNCs) at a fraction of their prices. He went after the most tough-to-produce ones; his first choice was blood pressure drug methyldopa. The innovator, US-based Merck, whom Reddy hoped to supply to, believed no Indian company could pull it off. Reddy was alien to such pessimism. His team hunkered down to the task and DRL eventually became the MNC's biggest supplier of the drug.
    [Show full text]