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Synopsis
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.
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 professional approach could revive the company. Prasad decided to change team structures and
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