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A recovery is underway at Dr. Reddy’s: results from US-business tweaks and CEO’s hawk eye on returns

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Strategy

A recovery is underway at Dr. Reddy’s: results from US-business tweaks and CEO’s hawk eye on returns

When Erez Israeli took the helm at the pharma major, he adopted a strategy to expand into more geographies, reduce focus on specialty drugs, and double down on generics. Cutting risk and costs were also high on the to-do list. A year down the line, the efforts are beginning to show results.
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17 Sep 2020 8 Mins Read 0 comment
(From left) Erez Israeli, CEO, Dr. Reddy's and G V Prasad, co-chairman and managing director, Dr. Reddy's; image credit: courtesy of Dr. Reddy's
(From left) Erez Israeli, CEO, Dr. Reddy's and G V Prasad, co-chairman and managing director, Dr. Reddy's; image credit: courtesy of Dr. Reddy's
Around 2014-15, Dr Reddy’s Laboratories was losing its grip on operations and had received warning letters from the US drug regulator for three of its manufacturing sites. Growth and profitability also reduced subsequently. Not many promoters in India would be keen on taking a back seat in such situations, but Satish Reddy and GV Prasad believed that a
I am expecting managers across functions to make a commitment and deliver on that, so the level of accountability is better. And once we are more accountable and more committed to ourselves and our customers, the performance improves. It starts from accountability and being professional,” Israeli sums it up. (Research support by Rochelle Britto; graphics by Mohammad Arshad)
Around 2014-15, Dr Reddy’s Laboratories was losing its grip on operations and had received warning letters from the US drug regulator for three of its manufacturing sites. Growth and profitability also reduced subsequently. Not many promoters in India would be keen on taking a back seat in such situations, but Satish Reddy and GV Prasad believed that a I am expecting managers across functions to make a commitment and deliver on that, so the level of accountability is better. And once we are more accountable and more committed to ourselves and our customers, the performance improves. It starts from accountability and being professional,” Israeli sums it up. (Research support by Rochelle Britto; graphics by Mohammad Arshad)

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