India's Dr Reddy's eyes manufacturing in Russia

25 February 2011

India’s second-largest drugmaker, Dr Reddy’s Laboratories (NYSE: RDY), is considering establishing a production facility in Russia, Sergei Ivanov, Deputy Prime Minister, has recently revealed.

According to Mr Ivanov, the company is currently in talks with the Russian government regarding with the possibility of building a pharmaceutical factory in the country. There is a possibility that the project might be implemented by Dr Reddy’s in cooperation with one of the Russian pharmaceutical companies. Financial details of the project as well as time of its implementation have not yet been disclosed.

In addition to setting up of manufacturing, the company plans to focus on R&D activities in Russia with the goal of developing new drugs.

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