Dr Reddys Laboratories

1985
 
 - The Company was Incorporated on 2nd November.  The Company was
 promoted by Dr. K. Anji Reddy and his associates who were also the
 promoters of Standard Organics, Ltd.
 
 - In May, the Company issued 7,50,000 equity shares of Rs 10 each
 for
 cash at par linked to 1,50,000 - 15% secured redeemable
 non-convertible
 debentures of Rs 100 each for cash at par in the proportion of one
 debenture for five equity shares held including the oversubscription
 from the public.  The allotment was made as follows:
 
 - (i) 12,550 equity shares linked to 2,510 debentures were issued to
 business associates
 
 - (ii) 850 shares linked to 170 debentures were issued to the
 employees
 
 - (iii) 2,80,500 shares linked to 56,100 debentures issued to the
 non-resident Indians and (iv) 5,25,850 shares linked to 1,05,170
 debentures were issued to the public.
 
 1986
 
 
 - 10,06,500 equity shares then issued at par out of which 2,56,500
 equity shares were reserved and allotted to promoters, etc.  The
 remaining 7,50,000 equity shares were issued linked to debentures of
 which the following shares were reserved for preferential allotment:
 
 - (i) 15,000 shares to business associates of the Company (only
 12,550
 shares taken up);
 
 - (ii) 37,500 shares to employees of the company (only 850 shares
 taken
 up) and 3,00,000 shares to non-resident Indians (only 2,80,500
 shares
 taken up).  The balance 3,97,500 shares along with the unsubscribed
 portion of 58,600 shares out of the preferential quota were offered
 for
 public subscription during June.
 
 - 1,16,250 additional shares linked to debentures were allotted to
 retain oversubscription (46,500 shares to promoters and 69,750
 shares
 to the public.
 
 1988
 
 - 13,660,500 No of equity shares forfeited.
 
 - (15 months), a plan was drawn for the expansion and modernisation
 of
 formulations division.  ICICI and IFCI sanctioned term loans of Rs
 198
 lakhs and Rs 132 lakhs respectively.
 
 1989
 
 - An explosion at the Company's plant resulted in stoppage of
 production for 2 months.  Two new products namely, a Ciprolet and
 Enam
 were introduced by the Company's formulation division while the
 Company's bulk drug division commenced manufacture of ciprofloxacin,
 a
 new drug.  The Company exported goods such as Methyldopa, Cephalexin
 etc., worth Rs 2.68 crores.
 
 - 6,83,125 rights shares issued (prem. Rs. 15 per share; prop. 
 1:2).
 Additional 1,02,470 shares allotted to retain oversubscription.
 Another 34,155 shares (prem. Rs 15 per share) allotted to employees.
       
 1990
 
 - The Company started manufacturing a new bulk drug by the name
 Omeprazole which was launched in the market by the brand name OMEZ.
 
 1991
 
 - 10,92,950 bonus equity shares issued in prop. 1:2.
 
 1992
 
 - 32,78,850 bonus equity shares issued in prop. 1:1.
 
 1993
 
 - Subject to necessary approvals being obtained, a separate company
 in
 the name of `Dr. Reddy's Dignostics Ltd.' was to be set up for the
 manufacture of dragnostics kits.  The Company proposes to invert to
 the
 extent of 60% in the equity capital of the company.
 
 1994
 
 - The Company proposed to invest Compact Electric Ltd., which was in
 the process of setting up a plant at Chennai for manufacturing
 energy
 efficient electric filament/discharge lamps in Collaboration with
 Li-Tech Corporation, South Korea.  The Company set up a subsidiary
 `Reddy Hong Kong Ltd.' in Hong Kong for marketing the Company's
 products in Main Land China and Far East countries.
 
 - `Reddy Biomed Ltd.' was incorporated as a joint venture between
 the
 Company and a Russian Company `Joint Stock Company of open type
 named
 after 1:1.  Machnikov' for manufacturing and marketing formulation
 in
 Russia.
 
 - Effective 1st April, Standard Equity Fund was merged with the
 Company.  Pursuant to the scheme of amalgamation 2,63,062 equity
 shares
 of Rs 10 each of the Company were issued to the shareholders of
 erstwhile Standard Equity Fund in the ratio of one equity share of
 the
 Company for ten equity shares of the erstwhile Standard Equity Fund
 Ltd.
 
 - During July the Company issued 4301076 Global Depository Receipts
 at
 a price of US .16 per GDR.  The Company allotted 4301076 equity
 shares of Rs 10 each at a premium of Rs 340 per share underlying the
 GDRs.
 
 - The company issued 4,301,076 GDSs representing 4,301,076 equity
 shares of the Company, par value Rs.10 (Shares), in a private
 placement in 1994 pursuant to Regulation S and Rule 144A under the
 Securities Act of 1933 (the Securities Act). The GDSs are listed on
 the Luxembourg Stock Exchange and each GDS represents one Share. As
 of
 May 4, 2001, there were 1,789,285 GDSs outstanding representing
 1,789,285 Shares.
 
 
 1995
 
 - Formulation division launched two new products namely Lanzap, an
 anti-Ulcerant drug and Peristil, drug for gastric disorder.  The
 bulk
 drug division commenced the production of six new products viz.,
 Finasteride, Nimesulide, Fluoxetine, Hydrochloride, Terbinafine,
 Hydrochloride, Risperidone and Clozapine.  The Company was in the
 process of setting up a subsidiary in the Antilles Kingdom of
 Netherlands for licensing the manufacture and marketing of drugs.
 
 - 263,062 equity shares issued to the shareholders of erstwhile
 standard Equity Fund Ltd. Pursuant to the scheme of amalgamation.
 
 1996
 
 - Four new products viz. Nise, Stamlo Beta, Sparfloxacin and Finast
 were launched.  Finast, a drug for treatment of benign prostiate
 enlargement was launched for the first time in India.  Under the
 bulk
 drugs category two new drugs viz. Sparfloxacin & Croratidine were
 launched.
 
 - The diagnostics division entered into a technical collaboration
 agreement with Board of Radiation and Isolope, technology for
 manufacture & marketing of radioimmonuassay kits for the production
 of
 diagnostic and therapeutic recombinant protections, the
 Bio-technology
 division entered into a technical collaboration agreement with Viral
 Therapeutics Inc. U.S.A.
 
 1997
 
 - In view of the company's long term plans in the area of diabetic
 care, the company launched Reclide (Glicazide), its first product in
 the theraupeutic segment.  Also, in its commitment to promote
 innovative products, the company entered into a marketing alliance
 to
 market Netacryl, a bio adhesive (n-butyl-2-cyno acrylate) used for
 the
 closure of external surgical and post traumatic wounds.
 
 - The Company set up a Critical care division to commercialise
 products
 from the research foundation and the first product to be marketed by
 the division was Miitotax an anti-cancer product used in the
 treatment
 of breast and ovarian cancer.
 
 - The city-based drug major Dr. Reddy's Laboratories has perfected
 the
 formulation of an anti-diabetic compound, glitazone for commercial
 marketing.
 
 - DRF has signed a licensing agreement with the Denmark-based Novo
 Nordisk, according to which the latter would obtain an exclusive
 worldwide license to develop and market pharmaceutical products
 based
 on compounds discovered and patented by the former.
 
 - Dr. Reddy's Research Foundation has finally signed the agreement
 for
 clinical testing of its four diabetes compounds of glitazone with
 the
 European drug major; Nova Nordisk.
 
 - Dr Reddy's Labs, the Hyderabad based pharmaceutical company, is
 forming two new joint ventures in Brazil and Uzbekistan.
 
 - The Hyderabad-based Dr Reddy's Laboratories is manufacturing an
 anti-ulcer formulation right from the basic stage for competitor,
 Ranbaxy Laboratories, as part of its strategy aimed at creating more
 value for its bulk drugs.
 
 1998
 
 - Dr. Reddy's Laboratories (DRL) has launched its first anti-cancer
 drug Mitotax (Paclitaxel).  The product is produced in-house at Dr.
 Reddy's Research Foundation (DRF) from the extracts of the yew tree
 and
 formulated in a dedicated facility in Hyderabad.
 
 - Dr. Reddy's Laboratories (DRL) has ended its collaboration with
 the
 French company, bioMerieux.  The collaboration agreement, which
 envisaged DRL to market bioMerieux's diagnostic reagents and
 instruments in India, has come to an end on 13th November.
 
 - Dr. Parvinder Singh, Chairman & Managing Director of Ranbaxy
 Laboratories and Dr. K Anji Reddy, Chairman of the Rs 5000 million
 Dr.
 Reddy's Group of pharmaceutical companies, were conferred with the
 prestigious `Ishidate Award' of the Federation of Asian
 Pharmaceutical
 Associations (FAPA).
 
 - The merger with Cheminor Drugs (the swap ratio at nine shares of 
 Dr. Reddy's Laboratories for 25 shares of Cheminor), has made 
 DRL the third largest pharmaceutical company in Inida with 
 participation in every element of the value chain.
 
 1999 
 
 - Dr. Reddy's Laboratories Ltd. (DRL) has set up an in-house
 effluent
 treatment plant at its bulk pharmaceuticals manufacturing facility
 located at Bollaram Industrial Development Area.
 
 - Dr. Reddy's Laboratories is setting a new trend in the Indian
 pharmaceutical sector by installing a `satellite' discovery research
 laboratory in the United States.
 
 - The company has two US-FDA approved plants. It has been exporting
 its
 products to the UK, Switzerland, Germany, Spain, Italy and the
 Netherlands. It also started exporting its formulations in a big way
 to
 Russia and has set up an office there. DRL has signed a joint
 venture
 agreement with the Khetan group, Nepal, for setting up a joint
 venture
 for the manufacture and marketing of finished formulations in Nepal
 and
 other neighbouring countries. It also signed a marketing and
 distribution agreement with Organics, Israel, for a wide range of
 sophisticated diagnostic kits. The products are recognized by WHO
 and
 other leading organisations in the healthcare industry.  
 
 2000 
 
 - Dr. Reddy's Laboratories and the Gribbles Group of Australia have
 signed a memorandum of understanding to form a joint venture company
 for establishing a network of 50 pathology laboratories and up to
 200
 specimen collection centres in India over the next five years.
 
 - The Board has approved merger of Cheminor Drugs Ltd. with the
 company.  Nine equity shares of the company will be allotted for
 every
 25 equity shares of CDL held.  The Company has decided to issue
 7,50,000 equity shares under ESOS.
 
 - The employees of the formulation unit-II of the company at
 Bachupally
 have decided to go on an indefinite strike from 17th June.
 
 - The Company has introduced a five-day week from January and change
 in
 timings.  A small group of employees has called for a strike from
 June
 19.
 
 - For the first time in the country, pharma major Dr. Reddy's
 Laboratories has launched an initiative to document clinical studies
 of
 drugs on the Internet.
 
 - DRF 2725, an anti-duabetic molecule discovered by Dr. Reddy's
 Research Foundation and licensed to Novo Nordisk in June 1998, has
 entered phase II trials of clinial development.
 
 - Dr. Reddy's Laboratories Ltd., the Hyderabad-based pharmaceutical
 company, has acquired three brands in the segment of women's health
 from Dai-Ichi Karkaria Ltd.
 
 - In a move to enhance the market share in the domestic formulations
 segment, Dr. Reddy's Laboratories Ltd.  has decided to set up a
 specialised field-force to work in close partnership with the
 medical
 community besides regroupes its older products.
 
 - The company has entered into an exclusive co-marketing and
 development agreement with Par Pharmaceuticals Inc. covering
 fourteen
 generic pharmaceuticals products.
 
 2001 
 
 - In April 2001, as a first step towards taking its molecules
 through
 clinical development on its own, Dr. Reddy's Laboratories has
 selected
 Simbec Research Limited, a well-known UK-based Clinical Research
 Organization (CRO), for conducting clinical trials of DRF 4832. DRF
 4832 is a PPAR agonist for treatment of cardiovascular
 complications.
 
 - Dr. Reddy's Laboratories Ltd. has ended a two-year-old marketing
 partnership with the US-based Schein Pharmaceutical Inc following
 Schein's takeover by Watson Pharmaceutical Inc.
 
 - The Company has entered into an exclusive co-marketing and
 development agreement with Par Pharmaceuticals Inc., the US-based
 manufacturer and distributor of a broad line of generic drugs.
 
 - Dr Reddy’s Laboratories has gone online with all its phase III and
 phase IV clinical trials on new products using an application being
 deployed on a website.
 
 -Eli Lilly has sued Dr Reddy's for infringement of one of the
 patents
 on olanzapine, the key ingredient in Lilly's antidepressant drug
 Zyprexa.
 
 - Reddy US Therapeutics, Inc, a biopharmaceutical company based in
 suburban Atlanta and a subsidiary of Dr Reddy’s Laboratories
 Limited,
 has announced the formation of a scientific advisory board
 consisting
 of scientists and physicians to advise it on its drug discovery
 research and development programes.
 
 - Dr. Reddy's Laboratories Ltd's product insert of its human
 recombinant granulocyte colony stimulating factor -- Filgrastim
 injection (Grastim), an anti-cancer formulation -- has got approval
 from the Drug Controller General of India (DGCI).
 
 - In April 2001, Dr. Reddy's Laboratories began trading on the New
 York
 Stock Exchange (code: RDY). The price to the public per ADS was
 .04.
 Total amount raised (net) was $ 124 million. 
  
 - In May 2001, the company decided to terminate the GDS programme.
 Once
 the facility is terminated, the Shares underlying the GDSs will be
 deposited in Dr. Reddy's American Depositary Share (ADS) facility
 with Morgan Guaranty Trust Company of New York as depositary (the
 Depositary).
  
 In May 2001, Novartis Pharma AG and Dr. Reddy's Laboratories
 announced
 that they have entered a licensing agreement for a novel
 anti-diabetes
 agent. Under terms of the agreement Dr. Reddy's will grant Novartis
 worldwide exclusive rights to development and commercialisation of
 their insulin sensitiser DRF 4158 in type 2 diabetes, in return for
 up
 to USD 55 million in upfront and milestone payments for specific
 clinical and regulatory endpoints, as wellas royalties. Dr. Reddy's
 will have co-promotion rights for DRF 4158 in India.
 
 - The agreement has received US regulatory clearance and has become
 effective from July 30, 2001. This event has triggered an upfront
 payment of 5 million US dollars from Novartis. Dr. Reddy's
 hasreceived
 this payment.
 
 2002
 
 - The Board has appointed Mr. Krishna G.Palepu as Additional
 Director
 on the Board of the Company.
 
 - Dr Norton Peet to head Dr. Reddy's discovery services venture.
 
 - Appointment of Mr Anupam Puri as Additional Director, Recommended a
 dividend of Rs 2.50 on equity share of Rs 5 each. To convene AGM on
 August 26, 2002, To re-appoint Mr Satish Reddy as Managing Director
 and COO for a period of 5 years wef October 01, 2002 subject to the
 approval of the shareholders.
 
 -Dr Reddy's appoints Uday Saxena as Chief Scientific Officer.
 
 -Dr Reddy's Laboratories Ltd has informed that the Company has
 granted 1813 stock options to an employee of the Company at the
 meeting of the Compensation Committee of Board of Directors held on
 August 26, 2002.The options have been granted at a price of Rs 884
 per option, which is equivalent to weighted average share price of
 the Company of last 30 days on BSE.
 
 -DataEdge deploys direct material procuremet solution for Dr Reddy's
 
 
 -DCGI orders for the removal of word 'filgrastim' from its
 anti-cancer drug Grastim
 
 -Introduces VRS scheme in the company
 
 -Decides to revoke interim dividend of Rs 2 per share
 
 -Signs definitive agreement to acquire BMS Lab & Meridian Healthcare
 UK
 
 -Pondicherry unit starts operations
 
 -Files application for a new drug- amlodipine maleate
 
 -Launches Bicalutamide under the brand name 'Tabi' which is indicated
 for the treatment of advanced prostate cancer
 
 -Launches Montelukast (generic name), a non-steroidal drug indicated
 for prohylaxis and treatment of asthma, in India
 
 -Unveils asthma drug Emlucast
 
 -Launches Mizolastine, non-sedative anti-histamine drug under the
 brand name Elina
 
 -Grants 2,59,400 stock options under ESOP (Employee Stock Option
 Plan)
 
 -Anti-cancer molecule DRF-1042 completes phase I clinical trials
 
 -Files an Abbreviated New Drug Application (ANDA) with the US Food &
 Drug Administration (FDA) for Clopidogrel Bisulfate tablets 75 mg
 with Para IV certification on all listed Orange Book patents
 
 -Hikes annual spend on R&D from 6% to 8% of turnover
 
 -Leads among Indian companies in getting international patents
 
 -Files Paragraph IV certifications on two patents for Pfizer's
 Norvasc
 
 -Pfizer files suit against Dr Reddy's over Norvasc patent
 
 -Announces USFDA approval for Tizanidine HCL tablets
 
 -Gets USFDA approval for Zanaflex
 
 -Gets final approval from US Food and Drug Administration (USFDA) for
 its Abbreviated New Drug Application (ANDA) for Ciprofloxacin Tablets
 100, 250, 500 and 750 mg
 
 -Announces ANDA filing for Terbinafine tablets
 
 -Novo Nordisk announces its decision to suspend the  ongoing clinical
 trials on the anti-diabetic molecule of Dr Reddy's Laboratories Ltd.
 
 -Values its brand at Rs 3,362 crore in March 2002
 
 -Judgment of US court goes against Dr Reddy's Laboratories in a
 patent violation case over the antibiotic Cipro
 
 -Promoters  holding slips from 31.5% to 26%
 
 -Gets ex-parte temporary injunction stopping Sun Generics from
 manufacturing and marketing pharmaceutical preparations bearing the
 trademark OMZ 20
 
 -Launches Dr. Reddy's Foundation For Health Education
 
 -Launches Breast Cancer Helpline in Mumbai
 
 -Receives USFDA approval for Amlodipine Maleate
 
 -Launches Broncho-Vaxom for patients suffering from repeated
 respiratory tract infections
 
 -Launches OncoQuest, India's first real time helpline for doctors
 
 -Unveils Omeprazole in injectable form in the domestic market
 
 -Wins the case against Pfizer in US court
 
 -Wins national award for excellence in corporate governance
 
 2003
 
 -Withdraws paediatric dosage of Nimesulide from the market
 
 -Launches Ibuprofen - First product under Dr Reddy's label in the US
 market
 
 -Unveils Tolterodine Tartrate drug for the treatment of urinary
 incontinence
 
 -Novartis discontinues trials on Dr Reddy's compound DRF-4158
 
 -Drops three new compounds from its research pipeline that were
 undergoing or had completed pre-clinical development or animal
 trials
 
 -Dr Reddy's anti-diabetis drug receives a set back as Danish Pharma
 company Novo Nordisk suspends the trails on the drug
 
 -Announces completion of Insulin trails by Novo Nordisk
 
 -Pfizer files patent application against Dr Reddy's
 
 -Announces the completion of a 15 year agreement with Leiner Health
 
 -Filed a second case against Pfizer in the US
 
 -Announces ANDA filing for Olanzapine ODT
 
 -Aventis sues Dr Reddy's Lab for patent infringement
 
 -Announces ANDA filing for Ondansetron HC1 Tablets, Equivalent to 16
 mg Base
 
 -Dr. Reddys Board approves merger of Zenovus Biotech Ltd., a wholly
 owned subsidiary
 
 -Files a new drug application (NDA) with the US Food and Drugs
 Administration (USFDA)
 
 -Gets US approval for Serzone generic
 
 -Dr Reddy's complaint on Sertraline dismissed
 
 -Closes down its 14 year old diagnostic business
 
 -DRL's brand value estimated at Rs 2,767 crore, human resources
 valued at Rs 2,908 crore as on 31/03/2003
 
 -Eli Lilly agrees to dismiss with prejudice its wilful infringement
 claim in Olanzapine patent challenge
 
 -Announces ANDA filing for Rosiglitazone Maleate
 
 -Glaxo files suit over Dr Reddy's for patent infringement
 
 - Gets  USFDA approval for Nefazodone HCL tablets
 
 -Dr. Venkateswarlu retires from Dr Reddy's Laboratories Board
 
 -Company has announced that it has signed an agreement with PLIVA for
 development and marketing of oncology products in Europe.
 
 2004
 
 -Dr Reddy's files Abbreviated New Drug Application with USFDA for
 Sumatriptan
 
 -Dr Reddy's appoints Dr Dennis Langer as President for North America
 
 -Rotary Club presents Vocational excellence award to Anji Reddy
 
 -Launched Redotil (racecadotril), the first anti-hypersecretory agent
 for the management of acute diarrhea in India
 
 -Dr Reddy's Laboratories shifts North American headquarters from its
 old home office in Upper Saddle River in New Jersey to more modern
 facilities in the Somerset Corporate Centre at Bridgewater in central
 New Jersey
 
 - Dr Reddy's acquires US firm Trigenesis
 
 - Dr Reddy's' Omez gets 'WordStar' award
 
 -Dr Reddy's Laboratories Ltd, the Hyderabad-based global
 pharmaceutical major, has obtained the tentative approval of the
 United States Food and Drugs Administration (USFDA) for the
 abbreviated new drug application filed on Fluconazole, indicated for
 the treatment of fungal infection
 
 -  Receives approval from US Food and Drug Administration (FDA) for
 ciprofloxacin tablets.
 
 -Establishes new captive BPO unit
 
 
 -Dr. Reddy's wins award for energy management
 
 2005
 
 -Dr Reddys launches India's first drug for treatment of diabetic foot
 ulcers
 
 -Dr Reddys wins WorldStar awards for anti-counterfeit & patient
 protection packaging
 
 -DRL unveils new programme for underprivileged youth
 
 -India's Dr Reddy's Laboratories Ltd has received approval from the
 US Food and Drug Administration to market nizatidine tablets in
 multiple strengths
 
 -Dr Reddys sets up India's first major drug development company
 
 -Dr Reddys launches 'Voboliv' Metaoxine to enter hepatoprotactives
 market
 
 -Dr Reddys announces the launch of Save The Foot initiative to reduce
 Diabetic Food Amputations
 
 2006
 
 -Dr Reddys Laboratories Ltd has informed that the Company has entered
 into an agreement with Merck
 
 -Dr Reddys Laboratories Ltd has launches 'Z&D'- a Zinc Sulphate
 formulation indicated as Adjuvant therapy along with ORS in the
 management of Acute and persistent Diarrhea. Available in 10 & 20 mg
 Dispersible orange flavoured Tablets as well as in 10mg/ml & 20mg/ml
 Dry Syrup for pediatric use, this product is intended to supplement
 the ORS (Oral Rehydration Salt) market.
 
 -Dr Reddy's launches 'Doxobid' - a new oral bronchodilator for asthma
 & COPD
 
 -Dr Reddys Laboratories Ltd has filed a shelf registration statement
 on Form F-3 with the U.S. Securities and Exchange Commission relating
 to a proposed offering of American Depositary Shares, or ADSs of up to
 13.5 million shares, excluding the underwriter's over-allotment
 option.
 
 2007
 - Dr Reddy's Laboratories Ltd rolled out Redituxa, its brand of
 rituximab, a monoclonal antibody (MAb) used in the treatment of
 Non-Hodgkin's Lymphoma (NHL).
 
 -Dr Reddys Laboratories Ltd has appointed Ms. Kalpana Morparia as an
 Additional Director on the Board of the Company by way of a circular
 resolution dated June 05, 2007.