Growth rates may decline in next few years: Dr Reddy's Laboratories

HYDERABAD: Country's second largest drug maker Dr Reddy's Laboratories today said its growth rates are likely to decline in the next few years due to expiry of many of its patents.

The company's Vice-Chairman and CEO G V Prasad told the Annual General Meeting here that the European market is affected by intense price pressures in UK and Germany.

"The US will continue to drive the company's growth in the current year. However, growth rates will flatten as the patent expiries peak in the current year and decline in the next few years," Prasad said.

Dr Reddy's Chairman K Anji Reddy, who was not present in AGM due to ill health, in his speech copy said it took 20 years for the company to register $ 1 billion revenues, whereas it took just five years to cross $ 2 billion turnover in FY2011-12.