Dr Reddy's gets nod to export 15 drugs to EU

The order will enable the company to import these substances for a period of three years, ending June 2019

Hyderabad-based pharmaceutical company Dr Reddy’s Laboratories has received approval from the Central Drug Standard Control Organisation (CDSCO) to export drugs for the European Union market.

In an order dated August 5, CDSCO gave its nod, which will allow Dr Reddy’s to export port 15 active pharmaceutical ingredients (APIs) to the European Union. These drugs are used to treat hypertension, pneumonia, bacterial infection, cardiovascular diseases, migraine, among others.

The order will enable the company to emport these substances for a period of three years, ending June 2019. At present, Dr Reddy’s has 10 units for manufacturing of APIs.  Dr Reddy’s is running its major business in Europe through licensing so far. Currently, it has presence in more than 20 countries, including the US and emerging markets such as Russia and Romania. Recently, Dr Reddy’s acquired eight abbreviated new drug applications from US-based pharmaceutical company TEVA. API business comprises Dr Reddy's Laboratories’ core business.

The company’s revenues from the pharmaceutical services segment declined 16 per cent year-on-year to Rs 470 crore for the quarter ended June 30. The fall was largely because of lower dispatches in API business and ongoing remediation activities.