Dr Reddy's Laboratories (DRL) has set a target of $3 billion (about Rs 15,205 crore) revenues by the financial year 2012-13 from $1.37 billion (about Rs 6,944 crore) earned during 2008-09, according to Vice-Chairman and Chief Executive Officer GV Prasad.

This is part of the Hyderabad-based pharmaceutical major's agenda for delivering a sustained profitable growth. The company has given a guidance of about 25 per cent return on capital employed for the coming three years.

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Speaking at the 25th annual general meeting of the company here today, Prasad said the company was now building the proprietary products business and at the same time delivering solutions for the unmet or undermet medical needs. It had already rolled out a global supply chain focused on replenishment.

DRL, the first Asian pharma company outside of Japan to be listed on the NYSE, said it was close to being the largest pharmaceutical company from India. "Newer business models will evolve but not the way we do business,'' Prasad said, adding they would work to anticipate the challenges and opportunities.

The company has simplified its business structure into three integrated businesses, revamped its product development systems, production and supply chain, and restructured proprietary research.

Though it had given a guidance of 25 per cent growth in revenues in 2008-09, the company registered 39 per cent increase to Rs 6,944 crore from Rs 5,000 crore in 2007-08.

DRL plans to have two launches on the biologics front this year. This includes the launch of one product that got extended into this year. The company has already launched its specialty branded business in the US with focus on the dermatology segment.

Earlier, DRL Chairman K Anji Reddy said the company aimed to be among the top 20 pharmaceutical companies in the world by 2020. It has exited from small distributor driven markets that made the business complex. "However, the global outlook in the near-term continues to be choppy,'' the chairman said.

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