Hyderabad: Dr Reddy’s Laboratories Ltd, India’s second biggest drug maker by sales, said on Monday it has appointed G.V. Prasad as chairman and Satish Reddy as vice-chairman. This follows the death of founder-chairman K. Anji Reddy on 15 March.

Prasad, the late founder’s son-in-law, has been elevated from vice-chairman and chief executive officer. He will continue as CEO. Satish Reddy will continue to be the managing director and chief operations officer in addition to his new post.

The appointments were with effect from 30 March, the company said in a release.

Prasad joined the company in 1986 and leads the core team that drives strategy, growth and performance. Satish Reddy is responsible for overseeing the operations of global generics, pharmaceutical services and active ingredients.

“The change was very much on expected lines, said Hemant Bakhru, an analyst at Mumbai-based foreign brokerage firm CLSA Asia-Pacific Markets.

“Prasad was there for a very long time leading the company. He was responsible in scaling the business of the company in the US and Europe. His challenge now would be to scale up the business further globally and get the biologics strategy right."

Close