Dr Reddy’s bullish on China
With incipient regulatory changes in China on Indian drug imports, Dr Reddy’s Laboratories has identified about 70 products for the country to be launched in a few years and is also planning to build a new plant very close to the existing one.
Erez Israeli, COO, Dr Reddy’s, said the drug-maker is in the process of seeking necessary approvals from Chinese authorities for selling drugs including in oncology area there and is upgrading professional teams for the growth.
He said: “China is an important space for us and we see a major opportunity in China. As China opened, especially with the changes of regulations to the kind of products in terms of quality and cost-effective that we can build to China.
“We are upgrading our team in China and we are also going to build a new plant very close to the current plant that we have. So overall, very exciting opportunities.”
Recently, India has identified and shared with China a list of 380 products, including horticulture, textiles, chemicals and pharmaceutical products, as their shipments hold huge export potential.