Keywords: Dr Reddy’s Laboratory, pharmaceutical firms, innovation, India
Managing strategic innovation: an analysis of Dr. Reddy's Laboratories
Dr. Reddy's Laboratories (DRL) is a firm that is exploiting opportunities in the global market by planning and preparing for its growth through innovation and globalisation. DRL started its operation by leveraging strong process engineering skills. With India signing the WTO agreement and strengthening the IPR, DRL has firmed up its molecular discovery plans. The small size of the domestic market has made the company turn to the international markets through exports, acquisitions, mergers and joint ventures. The focus of DRL has been on achieving leadership in the Indian market through innovation and at the same time capitalising on the opportunities prevalent in the global market place. DRL has moved up the value chain by placing greater emphasis on its finished dosage market to gradually emerge as an important player in this segment. The major driver of growth has been the long term vision to dominate the market through innovation.