Dr Reddy’s becomes first Indian company to introduce an anti-cancer drug in China
By Sanjay Maurya
News Highlights
- Dr Reddy’s Laboratories, situated in Hyderabad has become the first Indian pharmaceutical company to launch an anti-cancer treatment drug in the Chinese market.
- The medication abiraterone acetate is used to treat prostate cancer.
- As per the recent Edelweiss analysis, Dr Reddy’s is China’s largest foreign player, with plans to launch roughly 60 goods.
Dr Reddy’s Laboratories, situated in Hyderabad, has become the first Indian pharmaceutical company to launch an anti-cancer treatment drug in the Chinese market, according to India’s ambassador to China, Vikram Misri. This week, Dr. Reddy’s Abiraterone became the first anti-cancer drug from India to enter the Chinese market, according to Misri.
Dr Reddy’s Laboratories
- Industries – Pharmaceuticals
- Company size –10,001+ employees
- Headquarters – Hyderabad, TS
- Type – Public Company
- Founded – 1984
- Operates – India, USA, Russia, and Europe
The medication Abiraterone Acetate is used to treat prostate cancer. Following approval from the US Food and Drug Administration, it was initially released in the United States in 2020.
Dr Reddy’s Labs Ltd is a joint venture with the Rotam Group of Canada that operates in China. The joint venture is known as KunshanRotam Reddy Pharmaceutical Co, Ltd. (KRRP). Dr Reddy has operations in the United States, India, Russia, and Europe, in addition to China. Last year, Dr Reddy’s teamed up with Russia’s RIDF to market and manufacture the COVID-19 jab Sputnik V in India.
Dr Reddy operates in markets all over the world, including the United States, Russia, and Europe. According to IQVIA Health, the Zytiga brand and generic market had sales of $454 million in the United States, making Abiraterone Acetate a significant launch for the company.
According to a recent Edelweiss analysis, Dr Reddy’s is China’s largest foreign player, with plans to launch roughly 60 goods. Over the next seven to eight years, the corporation hopes to considerably expand its China portfolio from its present $100 million in revenue.
About Dr Reedy Growth
As the coronavirus pandemic continues to cause disruptions and harm markets around the world, Dr Reddy’s Laboratories expects its business growth to be “volatile” in the current fiscal year. Despite several market difficulties, the Hyderabad-based drugmaker said it had adequate growth levers to produce “acceptable performance” in terms of business growth this fiscal.
In FY2021, the drugmaker said it remained focused on increasing market share and continuing its journey toward a leaner business model, leveraging productivity gains, cost reduction, and greater efficiencies across many departments.
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