Pharmaceutical Industry Information Portal

Indian company Dr. Reddy’s will continue to operate in the Russian market

Indian pharmaceutical major Dr. Reddy’s Laboratories Ltd was focused on business continuity in and around Russia, as Indian drug exporters brace for temporary disruptions to sales, reported Reuters.

Dr. Reddy’s spokesperson said in an email:

We have had a presence in the region for over three decades. Ensuring the well-being of our staff is our first and foremost priority, along with measures to meet patient needs and business continuity. Overall, we are monitoring evolving developments closely and preparing accordingly.

The spokesperson of the pharmaceutical manufacturer did not specify, if it would raise or scale back investments in Russia, which accounted for more than 8% of its total sales of 189.7 billion rupees ($2.47 billion) in the last fiscal year that ended on March 31.

IDMA President Viranchi Shah said:

Overall demand for medicines will not go down, but there may be a temporary disruption. The problematic thing is managing payments from Russia (because of Western sanctions). It will take some time to be addressed as an alternate mechanism will be required to be put in place.

The Indian pharmaceutical company Dr. Reddy’s Laboratories Ltd supplies painkillers and other drugs to Russia.

Binnopharm Group, a pharmaceutical production company in Russia, signed a deal with Dr. Reddy’s Laboratories Ltd. to acquire its anti-bacterial medicines under the Ciprolet® and Levolet® brands in Russia, Uzbekistan, and Belarus in February, as reported earlier.


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