Dr. Reddy’s gets Board nod for nutraceutical arm
The HinduDr. Reddy’s Laboratories has got its Board approval for incorporation of a wholly-owned subsidiary focussed on nutraceuticals. The subsidiary, whose formation and name will be subject to approval of the Ministry of Corporate Affairs and relevant regulations, will engage in the business pertaining to medical nutrition, specialised nutrition, nutraceuticals, vitamins, minerals, herbals and supplements and related foods or drugs, the drugmaker said in a filing on Thursday. The business will broadly fall under the health and wellbeing segment, one on which Dr. Reddy’s has sought to focus as part of its future growth strategy. In the medium to long term, our strategy is to build a healthy pipeline of differentiated products in relevant therapies including biosimilars, expand our presence in areas such as OTC and nutraceuticals, and explore future growth businesses through our Horizon 2 focus.”
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