Kallam Anji Reddy (73), the founder of Dr Reddy's Laboratories Limited (DRL), who was suffering from cancer, breathed his last at 4 pm on Friday at Apollo Hospitals here where he was undergoing treatment. Reddy's body has been shifted to his house in Banjara Hills. People close to him said that he would be cremated tomorrow (Saturday).
Hailing from Tadepalli in Guntur district of Andhra Pradesh, Reddy graduated from Bombay University ( BSc Tech) with specialisation in pharmaceutical science and fine chemicals. He obtained his Ph D in chemical engineering from National Chemical Laboratory, Pune in 1969. Soon after his studies, he joined the state-owned Indian Drugs and Pharmaceuticals Limited (IDPL).
In 1984, Reddy pooled in all his resources to start DRL with an initial capital outlay of Rs 25 lakh. Soon the company established benchmarks in the Indian pharmaceutical industry. It eventually became the first pharmaceutical company in India to initiate drug discovery research and transformed Indian bulk drug industry from import-dependent in mid-80s to self reliant by 1990s.
People close to Reddy and who had worked with him earlier told Business Standard that he was instrumental in transforming Hyderabad as the pharmaceutical capital of the country. Several young entrepreneurs inspired by him had set up pharmaceutical units leading to the proliferation of bulk drug industry here.
A recipient of Padma Bhushan, Reddy also started a public charitable trust "Naandi Foundation", which provides drinking water and mid day meals to 1.3 million government school going children and farmers.
Started as a manufacturer of active pharmaceutical ingredients (APIs), DRL soon introduced branded formulations. Between 1985 and 1986, it came out with a drug 'Methydopa'. The company approached Merck with the samples but was rejected and that is stated have been turned the fortunes of DRL.
"That is where I got into the act. I took it as a challenge and within three months, we produced Methydopa equal to Merck's quality and acceptable to them," Reddy told in one of his interviews to the media.
DRL came out with an initial public offering of equity-linked debentures aggregating Rs 2.46 crore in May 1986. A year later, DRL was reported to have got another break when it secured approval from the United States Food and Drugs Administration (US FDA) to make Ibuprofen. This opened a world of opportunities for Reddy. The rest is history.
In 1997, DRL filed for its first abbreviated new drug application (ANDA) for Ranitidine and in 1999 it took over Chennai-based pharmaceutical company, American Remedies.
DRL got listed itself on the New York Stock Exchange on April 11, 2001. It fetched $133 million to the company. In 2005, DRL purchased Roche's API business in Mexico at an investment of $59 million. The company moved to Germany in early 2006 and acquired Betapharm.
At the age of 34, Reddy quit his job with IDPL and set up his first company Uniloids. He later started a few more ventures in quick succession before launching DRL. By 2005, DRL emerged as the country's second largest pharmaceutical company. In 2011-12, DRL posted a turnover of Rs 9,597 and a net profit of Rs 1426 crore. A long journey from an initial investment of just Rs 25 lakh.
Timeline
*Born-1940, Tadepalli, Guntur district
*B.Sc-Tech in Pharmaceuticals and Fine chemicals from Bombay University followed by a Ph.D in chemical engineering from the *National Chemical Laboratory, Pune in 1969
*Served IDPL-1969–1975
*Quit IDPL to found Uniloids Ltd in 1976
*Founded Dr Reddy's Labs in 1984
*Dr Reddy set up the Naandi Foundation as a Public Charitable Trust 1998
*was honored by the Government of India with the Padma Bhushan—April 2011 ( recognizing his distinguished service of high order in the field of Trade and Industry).
*Died March 15, 2013
Contributions
—set-up the "Institute of Life Sciences" at Hyderabad
—Seen as the father of bulk drug industry in India
—Served as a Member of the Prime Minister’s Council on Trade & Industry
—Chairman of Andhra Pradesh Industrial Development Corporation
—one of the first President of The Indian Pharmaceutical Alliance
— Served as a Board Member of Global Alliance for Improved Nutrition, Switzerland
— Board of Directors for TB Alliance, New York (Global Alliance for TB Drug Development)
In 1984, Reddy pooled in all his resources to start DRL with an initial capital outlay of Rs 25 lakh. Soon the company established benchmarks in the Indian pharmaceutical industry. It eventually became the first pharmaceutical company in India to initiate drug discovery research and transformed Indian bulk drug industry from import-dependent in mid-80s to self reliant by 1990s.
People close to Reddy and who had worked with him earlier told Business Standard that he was instrumental in transforming Hyderabad as the pharmaceutical capital of the country. Several young entrepreneurs inspired by him had set up pharmaceutical units leading to the proliferation of bulk drug industry here.
A recipient of Padma Bhushan, Reddy also started a public charitable trust "Naandi Foundation", which provides drinking water and mid day meals to 1.3 million government school going children and farmers.
Started as a manufacturer of active pharmaceutical ingredients (APIs), DRL soon introduced branded formulations. Between 1985 and 1986, it came out with a drug 'Methydopa'. The company approached Merck with the samples but was rejected and that is stated have been turned the fortunes of DRL.
"That is where I got into the act. I took it as a challenge and within three months, we produced Methydopa equal to Merck's quality and acceptable to them," Reddy told in one of his interviews to the media.
DRL came out with an initial public offering of equity-linked debentures aggregating Rs 2.46 crore in May 1986. A year later, DRL was reported to have got another break when it secured approval from the United States Food and Drugs Administration (US FDA) to make Ibuprofen. This opened a world of opportunities for Reddy. The rest is history.
In 1997, DRL filed for its first abbreviated new drug application (ANDA) for Ranitidine and in 1999 it took over Chennai-based pharmaceutical company, American Remedies.
DRL got listed itself on the New York Stock Exchange on April 11, 2001. It fetched $133 million to the company. In 2005, DRL purchased Roche's API business in Mexico at an investment of $59 million. The company moved to Germany in early 2006 and acquired Betapharm.
At the age of 34, Reddy quit his job with IDPL and set up his first company Uniloids. He later started a few more ventures in quick succession before launching DRL. By 2005, DRL emerged as the country's second largest pharmaceutical company. In 2011-12, DRL posted a turnover of Rs 9,597 and a net profit of Rs 1426 crore. A long journey from an initial investment of just Rs 25 lakh.
Timeline
*Born-1940, Tadepalli, Guntur district
*B.Sc-Tech in Pharmaceuticals and Fine chemicals from Bombay University followed by a Ph.D in chemical engineering from the *National Chemical Laboratory, Pune in 1969
*Served IDPL-1969–1975
*Quit IDPL to found Uniloids Ltd in 1976
*Founded Dr Reddy's Labs in 1984
*Dr Reddy set up the Naandi Foundation as a Public Charitable Trust 1998
*was honored by the Government of India with the Padma Bhushan—April 2011 ( recognizing his distinguished service of high order in the field of Trade and Industry).
*Died March 15, 2013
Contributions
—set-up the "Institute of Life Sciences" at Hyderabad
—Seen as the father of bulk drug industry in India
—Served as a Member of the Prime Minister’s Council on Trade & Industry
—Chairman of Andhra Pradesh Industrial Development Corporation
—one of the first President of The Indian Pharmaceutical Alliance
— Served as a Board Member of Global Alliance for Improved Nutrition, Switzerland
— Board of Directors for TB Alliance, New York (Global Alliance for TB Drug Development)
