Dr. Reddy’s Appoints GV Prasad as Chairman and Satish Reddy as Vice-Chairman
of the Company
HYDERABAD, India -- April 1, 2013
Dr. Reddy’s Laboratories Ltd. (NYSE: RDY) today announced that based on the
recommendations of the Nomination, Governance and Compensation Committee, its
Board of Directors have appointed GV Prasad, presently Vice-Chairman and CEO
as the “Chairman and CEO” and Satish Reddy as “Vice-Chairman” in addition to
his present role of Managing Director and COO, effective from 30 March, 2013.
All other terms and conditions of their respective appointments like
remuneration, tenure, etc., as approved by the shareholders at their General
Meetings remain the same.
This press release includes forward-looking statements, as defined in the U.S.
Private Securities Litigation Reform Act of 1995. We have based these
forward-looking statements on our current expectations and projections about
future events. Such statements involve known and unknown risks, uncertainties
and other factors that may cause actual results to differ materially. Such
factors include, but are not limited to, changes in local and global economic
conditions, our ability to successfully implement our strategy, the market
acceptance of and demand for our products, our growth and expansion,
technological change and our exposure to market risks. By their nature, these
expectations and projections are only estimates and could be materially
different from actual results in the future.
About Dr. Reddy’s
Dr. Reddy’s Laboratories Ltd. (NYSE: RDY) is an integrated global
pharmaceutical company, committed to providing affordable and innovative
medicines for healthier lives. Through its three businesses – Pharmaceutical
Services and Active Ingredients, Global Generics and Proprietary Products –
Dr. Reddy’s offers a portfolio of products and services including APIs, custom
pharmaceutical services, generics, biosimilars, differentiated formulations
and NCEs. Therapeutic focus is on gastro-intestinal, cardiovascular,
diabetology, oncology, pain management, anti-infective and pediatrics. Major
markets include India, USA, Russia and CIS, Germany, UK, Venezuela, S. Africa,
Romania, and New Zealand. For more information, log on to: www.drreddys.com.
Dr. Reddy’s Laboratories Ltd.
Investors and Financial Analysts:
Kedar Upadhye, +91-40-66834297
Saunak Savla, +91-40-49002135
Milan Kalawadia (USA), +1 908-203-4931
S Rajan, +91-40- 49002445
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