Dr. Reddy’s gets Board nod for nutraceutical arm

Dr. Reddy’s Laboratories has got its Board approval for incorporation of a wholly-owned subsidiary focussed on nutraceuticals.
The subsidiary, whose formation and name will be subject to approval of the Ministry of Corporate Affairs and relevant regulations, will engage in the business pertaining to medical nutrition, specialised nutrition, nutraceuticals, vitamins, minerals, herbals and supplements and related foods or drugs, the drugmaker said in a filing.
The business will broadly fall under the health and wellbeing segment, one on which Dr. Reddy’s has sought to focus as part of its future growth strategy. “Alongside our current growth drivers, we are also exploring business spaces that we think will shape the healthcare of the future. These include deepening our presence in nutraceuticals, cell and gene therapy and NCEs…” Chairman K. Satish Reddy and co-chairman and MD G.V.Prasad had said in the 2022-23 annual report.
The company, in the same report, said “in the near term, we will continue to drive productivity improvement and focus on our core therapeutic areas and big brands. In the medium to long term, our strategy is to build a healthy pipeline of differentiated products in relevant therapies including biosimilars, expand our presence in areas such as OTC and nutraceuticals, and explore future growth businesses through our Horizon 2 focus.”
Source: Thehindu