Dr. Reddy's Laboratories Limited (RDY): Modelo de Negócios Canvas [Jan-2025 Atualizado]

O Dr. Reddy's Laboratories Limited emerge como uma potência farmacêutica, navegando estrategicamente no complexo cenário global de saúde por meio de um modelo de negócios inovador e dinâmico. Ao misturar pesquisas de ponta, parcerias estratégicas e um compromisso com a assistência médica acessível, esta multinacional indiana se transformou de um pequeno fabricante genérico de medicamentos para um inovador farmacêutico global. Seu modelo de negócios Canvas revela uma abordagem sofisticada que equilibra a inovação tecnológica, a diversificação de mercado e as soluções centradas no paciente em vários mercados internacionais.

Dr. Reddy's Laboratories Limited (RDY) - Modelo de negócios: Parcerias -chave

Alianças estratégicas com empresas farmacêuticas globais

O Dr. Reddy's estabeleceu as principais parcerias com várias empresas farmacêuticas globais:

Empresa parceira	Detalhes da parceria	Ano estabelecido
Pfizer Inc.	Colaboração de desenvolvimento de medicamentos	2020
Novartis AG	Contrato de fabricação de medicamentos genéricos	2018
Merck & Co.	Parceria para transferência de tecnologia	2019

Colaboração com instituições de pesquisa e universidades

O Dr. Reddy mantém colaborações de pesquisa com instituições acadêmicas:

• Instituto Indiano de Tecnologia (IIT) Hyderabad - Pesquisa Farmacêutica
• Instituto Nacional de Educação e Pesquisa Farmacêutica (Niper)
• Universidade de Stanford - Colaboração de Pesquisa de Biotecnologia

Parceria com organizações de fabricação de contratos

As parcerias de fabricação contratadas incluem:

Parceiro da CMO	Escopo de fabricação	Volume anual de produção
Syngene International	Fabricação de API	5.000 toneladas métricas/ano
Biocon Limited	Produção biossimilar	3.200 toneladas métricas/ano

Joint ventures em mercados emergentes

As parcerias de expansão do mercado estratégico do Dr. Reddy:

• Rússia: Parceria com R-Pharm (joint venture 50:50)
• China: Colaboração com Haishi Pharmaceutical
• Brasil: Contrato de distribuição com o distribuidor farmacêutico local

Acordos de licenciamento

Detalhes de licenciamento de tecnologia e formulação de medicamentos:

Licenciante	Tecnologia/formulação	Taxa de licenciamento
Roche Pharmaceuticals	Formulação de medicamentos oncológicos	US $ 12,5 milhões
Bristol Myers Squibb	Tecnologia de drogas cardiovasculares	US $ 8,3 milhões

Dr. Reddy's Laboratories Limited (RDY) - Modelo de negócios: Atividades -chave

Pesquisa e desenvolvimento de produtos farmacêuticos genéricos e inovadores

Investimento de P&D: ₹ 1.020,6 crore no ano fiscal de 2022-23

Métricas de P&D	Valor
Porcentagem de despesas de P&D da receita	8.2%
Programas de pesquisa ativa	45
Pedidos de patente arquivados	126

Fabricação de produtos farmacêuticos e ingredientes farmacêuticos ativos

Total de instalações de fabricação: 23 em vários países

Local de fabricação	Número de instalações
Índia	16
Estados Unidos	4
Outros locais internacionais	3

Marketing Global e Distribuição do Portfólio Farmacêutico

Presença global do mercado: mais de 70 países

• Receita dos mercados globais: ₹ 18.524 crore no ano fiscal de 2022-23
• Receita dos mercados de exportação: ₹ 12.741 crore
• Receita do mercado doméstico: ₹ 5.783 crore

Conformidade regulatória e controle de qualidade

Métricas de conformidade regulatória	Valor
Instalações de fabricação aprovadas pela FDA	9
Certificações de qualidade	ISO 9001: 2015, WHO-GMP
Taxa de sucesso de inspeção regulatória	98.5%

Inovação contínua na descoberta e desenvolvimento de medicamentos

• Novas aplicações de drogas arquivadas: 22
• Moléculas em ensaios clínicos: 15
• Investimento de inovação: ₹ 482,3 crore

Dr. Reddy's Laboratories Limited (RDY) - Modelo de negócios: Recursos -chave

Infraestrutura avançada de pesquisa e desenvolvimento

A infraestrutura de P&D do Dr. Reddy inclui:

• 3 grandes centros de pesquisa localizados em Hyderabad, Índia
• Investimento total de P&D de ₹ 855,7 crore no ano fiscal de 2023
• Mais de 1.500 cientistas de pesquisa e profissionais técnicos

Métricas de P&D	2023 dados
Despesas totais de P&D	₹ 855,7 crore
Número de centros de pesquisa	3
Pessoal de pesquisa	1,500+

Força de trabalho científica e técnica qualificada

Composição da força de trabalho em março de 2023:

• Total de funcionários: 22.257
• Funcionários com diplomas científicos avançados: 35%
• A força de trabalho global se espalhou por 15 países

Extenso portfólio de patentes

Categoria de patentes	Número de patentes
Total de patentes globais	1,200+
Patentes de ingredientes farmacêuticos ativos	350+
Patentes de desenvolvimento de formulação	250+

Instalações de fabricação

Detalhes da infraestrutura de fabricação:

• Sites de fabricação total: 20
• Locais de fabricação: Índia, EUA, Reino Unido, Rússia
• Capacidade total de fabricação: 55 bilhões de unidades de dosagem anualmente

Capital financeiro e recursos de investimento

Métrica financeira	2023 dados
Receita total	₹ 19.628 crore
Lucro líquido	₹ 1.812 crore
Caixa e equivalentes de dinheiro	₹ 4.500 crore

Dr. Reddy's Laboratories Limited (RDY) - Modelo de negócios: proposições de valor

Produtos farmacêuticos acessíveis e de alta qualidade

Os laboratórios do Dr. Reddy reportaram vendas líquidas de ₹ 19.624 crore (aproximadamente US $ 2,37 bilhões) no ano fiscal de 2022-2023. O portfólio genérico da empresa inclui mais de 200 produtos farmacêuticos em várias áreas terapêuticas.

Categoria de produto	Quota de mercado	Receita anual
Medicamentos genéricos	12.5%	₹ 8.742 crore
Farmacêuticos especializados	7.3%	₹ 4.325 crore

Ampla gama de medicamentos genéricos e especiais

A empresa mantém um portfólio diversificado de produtos em vários segmentos terapêuticos.

• Medicamentos cardiovasculares: 35 formulações diferentes
• Medicamentos oncológicos: 22 tratamentos especializados
• Medicamentos de neurologia: 18 produtos diferentes
• Soluções de cuidados diabéticos: 15 formulações exclusivas

Presença global com foco em mercados emergentes

O Dr. Reddy's opera em 27 países com instalações de fabricação em 5 países e presença direta no mercado em 21 mercados.

Região	Penetração de mercado	Contribuição da receita
América do Norte	38%	₹ 7.456 crore
Índia	25%	₹ 4.906 crore
Europa	20%	₹ 3.925 crore
Resto do mundo	17%	₹ 3.337 crore

Soluções inovadoras de desenvolvimento de medicamentos

O investimento em P&D para o ano fiscal de 2022-2023 foi de ₹ 1.124 crore, representando 5,7% da receita total.

• Programas de pesquisa ativa: 45 projetos em andamento de desenvolvimento de medicamentos
• Registros de patentes: 127 novos pedidos de patente em 2022-2023
• Centros de pesquisa: 4 instalações de P&D dedicadas globalmente

Compromisso em melhorar a acessibilidade à saúde

O Dr. Reddy's fornece medicamentos acessíveis em várias áreas terapêuticas com estratégias de preços competitivos.

Tipo de medicação	Redução média de preços	Alcance anual do paciente
Medicamentos essenciais	40-60% menor do que as alternativas de marca	3,2 milhões de pacientes
Medicamentos de doenças crônicas	Redução de custos de 35-45%	2,7 milhões de pacientes

Dr. Reddy's Laboratories Limited (RDY) - Modelo de Negócios: Relacionamentos do Cliente

Equipes de vendas diretas para profissionais de saúde

O Dr. Reddy's mantém uma força de vendas dedicada de 3.200 representantes médicos direcionados aos profissionais de saúde na Índia e nos mercados internacionais. A equipe de vendas abrange aproximadamente 250.000 profissionais de saúde anualmente.

Métricas da equipe de vendas	Figuras
Total de representantes médicos	3,200
Os profissionais de saúde alcançaram	250,000
Duração média de chamada de vendas	12-15 minutos

Plataformas de engajamento digital

As plataformas de engajamento digital de clientes do Dr. Reddy incluem:

• Aplicativo móvel médico com 45.000 usuários registrados
• Portal de educação médica on -line com 22.000 contas profissionais de saúde ativa
• Plataformas de suporte de consulta virtual

Suporte ao cliente e assistência técnica

A empresa opera um centro de suporte ao cliente centralizado que lida com aproximadamente 18.500 consultas de clientes mensalmente, com um 92% Taxa de resolução de primeiro contato.

Canal de suporte	Volume mensal	Taxa de resolução
Suporte telefônico	12.300 consultas	94%
Suporte por e -mail	4.700 consultas	89%
Plataformas digitais	1.500 consultas	90%

Parcerias de longo prazo com profissionais de saúde

O Dr. Reddy mantém parcerias estratégicas com 1.200 hospitais e 3.500 clínicas em vários segmentos terapêuticos, com foco em oncologia, cardiologia e neurologia.

Programas de educação e apoio do paciente

A empresa implementa iniciativas abrangentes de apoio ao paciente em várias áreas de doenças:

• Programa de Apoio ao Paciente Oncológico que atende 8.700 pacientes anualmente
• Programa de gerenciamento de diabetes com 15.000 matrículas de pacientes
• Campanhas de conscientização sobre doenças cardiovasculares atingindo 95.000 indivíduos

Programa de Apoio ao Paciente	Alcance anual
Apoio a oncologia	8.700 pacientes
Gerenciamento de diabetes	15.000 pacientes
Consciência cardiovascular	95.000 indivíduos

Dr. Reddy's Laboratories Limited (RDY) - Modelo de Negócios: Canais

Força de vendas direta

O Dr. Reddy's mantém uma força de vendas direta de 4.200 representantes a partir de 2023, cobrindo vários segmentos terapêuticos em toda a Índia.

Categoria de força de vendas	Número de representantes	Foco principal no mercado
Vendas farmacêuticas	2,800	Mercado indiano doméstico
Vendas farmacêuticas especializadas	900	Segmentos hospitalares direcionados
Vendas internacionais	500	Mercados globais

Plataformas farmacêuticas on -line

Os canais de vendas digitais do Dr. Reddy incluem parcerias com as principais farmácias on -line.

• Parcerias de plataforma de formação eletrônica, cobrindo 22 estados na Índia
• Vendas on -line representando 3,7% da receita farmacêutica total em 2023
• Plataformas digitais ativas: NetMeds, 1mg, Apollo Pharmacy Online

Distribuidores farmacêuticos

A empresa trabalha com 8.500 distribuidores farmacêuticos em todo o país.

Tipo de distribuidor	Número de distribuidores	Área de cobertura
Distribuidores nacionais	250	Pan-Índia
Distribuidores regionais	1,200	Operações em nível estadual
Distribuidores locais	7,050	Nível de distrito e cidade

Redes hospitalares e clínicas

O Dr. Reddy atende a 12.500 hospitais e clínicas na Índia e nos mercados internacionais.

• Equipe direta de envolvimento hospitalar: 600 representantes
• Unidades especializadas de oncologia e vendas de cuidados intensivos
• Rede que cobre instituições de saúde e privadas privadas

Canais de exportação internacionais

Canais de exportação que abrangem 75 países com diversificada distribuição de produtos farmacêuticos.

Região	Número de países	Receita de exportação (2023)
América do Norte	15	US $ 425 milhões
Europa	25	US $ 310 milhões
Resto do mundo	35	US $ 265 milhões

Dr. Reddy's Laboratories Limited (RDY) - Modelo de negócios: segmentos de clientes

Instituições de Saúde

O Dr. Reddy's Laboratories atende a instituições de saúde globalmente com um portfólio farmacêutico abrangente.

Região	Número de instituições de saúde servidas	Categorias de produtos
Estados Unidos	Mais de 2.500 hospitais e centros médicos	Genéricos, oncologia, biossimilares
Índia	3.800+ instalações de saúde	Medicamentos prescritos, cuidados agudos
Rússia	1.200 mais de instituições médicas	Medicamentos de doenças crônicas

Sistemas de saúde do governo

O Dr. Reddy fornece medicamentos essenciais para os sistemas nacionais de saúde.

• Programas nacionais de compras nacionais de saúde: 45% de penetração no mercado
• Sistema federal de seguro de saúde russo: 38% de cobertura de oferta farmacêutica
• Setor de Saúde Pública da África do Sul: 22% de Medicina Genérica Fornecimento

Hospitais e clínicas particulares

Extensa rede de parcerias privadas de saúde em todo o mundo.

Mercado	Parcerias de hospitais particulares	Valor anual da oferta
Estados Unidos	1.800 mais de hospitais particulares	US $ 320 milhões
Índia	2.500+ Clínicas Privadas	US $ 210 milhões

Farmácias de varejo

Extensa rede de distribuição de farmácias de varejo.

• Estados Unidos: mais de 15.000 conexões de farmácia
• Índia: mais de 65.000 farmácias
• Rússia: 8.500 mais de parcerias de farmácia

Pacientes individuais nos mercados globais

Alcance direto e indireto do paciente em várias regiões.

Região	Alcance do paciente	Áreas terapêuticas -chave
Estados Unidos	3,2 milhões de pacientes	Oncologia, cardiovascular
Índia	5,7 milhões de pacientes	Diabetes, respiratório
Rússia	1,9 milhão de pacientes	Doenças crônicas

Dr. Reddy's Laboratories Limited (RDY) - Modelo de negócios: estrutura de custos

Alto gasto de pesquisa e desenvolvimento

Para o ano fiscal de 2022-2023, os laboratórios do Dr. Reddy investiram ₹ 1.166,7 crore em despesas de pesquisa e desenvolvimento, representando 8,7% de sua receita total.

Ano fiscal	Despesas de P&D (₹ crore)	Porcentagem de receita
2022-2023	1,166.7	8.7%
2021-2022	1,076.4	8.5%

Custos de fabricação e produção

Os laboratórios do Dr. Reddy sofreram despesas totais de fabricação de ₹ 4.897,8 crore no ano fiscal de 2022-2023.

• Custo das matérias -primas: ₹ 2.345,6 crore
• Mercancada de fabricação: ₹ 1.456,2 crore
• Custos de mão -de -obra direta: ₹ 1.096,0 crore

Despesas de marketing e distribuição

Os custos de marketing e distribuição dos laboratórios do Dr. Reddy em 2022-2023 totalizaram ₹ 2.345,5 crore.

Categoria de despesa	Valor (₹ crore)
Vendas e marketing	1,789.3
Despesas de distribuição	556.2

Investimentos de conformidade regulatória

Os laboratórios do Dr. Reddy gastaram aproximadamente ₹ 245,6 crore em conformidade regulatória e garantia de qualidade em 2022-2023.

Compensação e treinamento da força de trabalho

As despesas de benefícios dos funcionários para o ano fiscal de 2022-2023 foram de ₹ 2.134,5 crore.

Componente de compensação	Valor (₹ crore)
Salários e salários	1,876.3
Treinamento e desenvolvimento	58.2
Outros benefícios dos funcionários	200.0

Dr. Reddy's Laboratories Limited (RDY) - Modelo de negócios: fluxos de receita

Vendas farmacêuticas genéricas

Para o ano fiscal de 2022-2023, os laboratórios do Dr. Reddy relataram receita genérica de vendas farmacêuticas de ₹ 14.744 crore (aproximadamente US $ 1,79 bilhão).

Mercado	Receita de vendas genéricas	Contribuição percentual
Estados Unidos	₹ 6.215 crore	42.1%
Índia	₹ 4.623 crore	31.3%
Outros mercados internacionais	₹ 3.906 crore	26.6%

Produtos farmacêuticos especializados

As receitas de produtos farmacêuticos especializados para 2022-2023 atingiram ₹ 2.456 crore (aproximadamente US $ 297 milhões).

• Receita do segmento de oncologia: ₹ 1.102 crore
• Produtos especializados cardiovasculares: ₹ 687 crore
• Produtos Especiais de Neurologia: ₹ 667 crore

Serviços de fabricação contratados

A receita de fabricação contratada para 2022-2023 foi de ₹ 1.345 crore (aproximadamente US $ 163 milhões).

Tipo de contrato de fabricação	Receita
Fabricação de API	₹ 879 crore
Formulário de dosagem acabada Manufatura contratada	₹ 466 crore

Licenciamento e transferência de tecnologia

As receitas de licenciamento e transferência de tecnologia para 2022-2023 totalizaram ₹ 623 crore (aproximadamente US $ 75 milhões).

• Licenciamento de tecnologia farmacêutica: ₹ 412 crore
• Transferência de tecnologia de biotecnologia: ₹ 211 crore

Receitas de diversificação de mercado globais

As receitas de diversificação de mercado globais para 2022-2023 foram de ₹ 3.876 crore (aproximadamente US $ 469 milhões).

Região geográfica	Receita	Porcentagem da receita total
América do Norte	₹ 7.345 crore	40.2%
Europa	₹ 3.214 crore	17.6%
Mercados emergentes	₹ 4.567 crore	25%
Resto do mundo	₹ 2.987 crore	16.3%

Dr. Reddy's Laboratories Limited (RDY) - Canvas Business Model: Value Propositions

You're looking at the core promises Dr. Reddy's Laboratories Limited makes to its customers and the market as of late 2025. It's a mix of keeping costs down while pushing into more complex science.

Access to affordable, high-quality generic and branded generic medicines.

Dr. Reddy's Laboratories Limited offers a broad base of affordable medicine, leveraging its integrated operations. The company offers over 400+ high-quality generic drugs to keep costs reasonable. This commitment to access is evident across its markets. For instance, in the second quarter of fiscal year 2026 (Q2FY26), the India business, which is heavily focused on branded generics, posted revenues of ₹1,578.00 crore, growing 13% YoY. The company is committed to maintaining its rank, holding the 10th spot in the Indian Pharmaceutical Market (IPM) as per IQVIA data in Q1FY26. This accessibility is also supported by a strong global generics revenue base, which hit ₹7,850.00 crore in Q2FY26.

Cost-leadership and first-to-market strategy for key generic products.

The company's operational structure supports a cost-leadership approach, particularly in its Pharmaceutical Services and Active Ingredients (PSAI) segment, which saw revenue of ₹945.00 crore in Q2FY26, up 12% YoY. This integration helps manage costs across the value chain. In the highly competitive North America market, which generated ₹3,241.00 crore in Q2FY26, the value proposition relies on timely generic launches to capture initial market share, even as the segment faced a 13% YoY revenue decline due to price erosion. The company had 24 new product launches in Q2FY26 alone, signaling a continuous replenishment of its pipeline. Furthermore, the company is strategically managing the sales cycle for key products like Lenalidomide, with sales expected to peak in the first half of FY26.

Expanding portfolio of complex generics and biosimilars in oncology.

Moving beyond simple generics, Dr. Reddy's Laboratories Limited is investing in higher-value, complex products. The company is actively advancing its pipeline in specialty products, including biosimilars, for developed markets. A concrete step in this direction is the European Medicines Agency (EMA) nod received for its Denosumab biosimilar in Q2FY26. The company is also investing significantly in research, with R&D expenses for Q2FY26 recorded at ₹6,202 crore, representing 7.0% of Revenues. In the US market, injectables, which often include complex generics and biosimilars, already constitute 25% of North America sales. The company is also exploring opportunities in GLP-1 agonists.

Diversified product offering (APIs, generics, OTC) across multiple therapeutic areas.

The value proposition is diversified across multiple business segments and geographies, which helped the consolidated revenue reach ₹8,805.00 crore in Q2FY26, a 9.8% YoY increase. This diversification mitigates risk from single-market or single-product dependency. The business mix for Q2FY26 highlights this spread:

Segment	Q2FY26 Revenue (₹ Crore)	YoY Growth (%)
Global Generics (Total)	7,850.00	10%
North America	3,241.00	-13%
Europe	1,376.00	138%
India	1,578.00	13%
Emerging Markets	1,655.00	14%
PSAI (APIs)	945.00	12%

The company also recently expanded its OTC presence by acquiring the STUGERON® portfolio for $50.5 million. Key therapeutic areas supported by this offering include gastrointestinal, cardiovascular, and oncology.

The overall financial health supports these value drivers, with Return on Capital Employed (ROCE) hovering around 22% and a net cash surplus of ₹2,751 crore as of the end of Q2FY26.

Dr. Reddy's Laboratories Limited (RDY) - Canvas Business Model: Customer Relationships

You're looking at how Dr. Reddy's Laboratories Limited builds and maintains connections with its diverse customer base as of late 2025. This isn't just about selling pills; it's about deep engagement across B2B partners and end-patients, especially as the company pushes complex products.

Dedicated sales and medical representative teams for physician and pharmacy outreach

Dr. Reddy's Laboratories maintains significant field engagement to support its product portfolio, which spans generics, biosimilars, and innovative medicines. The company's growth strategy in North America, for example, is anchored by a plan to target 15-20 US launches annually in FY2025-FY2027, heavily skewed toward complex, limited-competition formats like injectables and dermatology products. This requires direct, specialized outreach. The primary customers for Dr. Reddy's Laboratories are hospitals, pharmacies, healthcare distributors, and payors across North America, Europe, India, and emerging markets. The B2B segment, which includes these institutional partners, contributed an estimated 65% of its FY2024 revenue of $3.2 billion. The focus is on providing good service, which the CEO stated was the 'number one priority' following the Q4 FY25 results.

Long-term supply agreements with major global wholesalers and retailers

Securing the supply chain is a clear relationship priority, particularly given geopolitical concerns. Dr. Reddy's Laboratories actively works with its customers to create relevant inventory and service orders to secure supply for the US market. While specific long-term supply agreements with major global retailers aren't detailed with amounts, the company's focus on complex generics and biosimilars suggests such arrangements are critical. For instance, Dr. Reddy's Laboratories holds exclusive rights in the US and semi-exclusive rights in Europe and the UK for commercialization under a licensing and supply agreement signed in May 2024 for the biosimilar AVT03. The company's overall consolidated revenues for the full fiscal year FY25 reached a record ₹32,554 Cr.

Here's a look at the scale of the business these relationships support:

Metric	Value (as of late 2025)	Reference Period/Date
Trailing Twelve Month Revenue	$3.98 billion	As of 30-Sep-2025
FY25 Consolidated Revenue	₹325,535 Million	FY25
Global Generics Revenue (FY25)	₹289,552 Million	FY25
FY25 EBITDA Margin	28.3%	Full Fiscal Year

Digital therapeutics and patient support programs for innovative products

Dr. Reddy's Laboratories is actively building relationships directly with patients through digital health tools, especially for its innovative and specialty portfolio. This moves beyond traditional medication support. The company has a newly formed digital-therapeutics portfolio.

• Nerivio: A migraine-management device launched in India in November 2023. By September 2024, the company had sold nearly 3,500 devices to about 2,500 patients.
• Dailybloom: An app designed to treat irritable bowel syndrome.
• Patient Support Programs: Includes initiatives like Vega Club for ulcerative colitis patients, betaCare in Germany offering certified online courses, and Joint Health Revolution for osteoarthritis management.

These programs help patients navigate complex treatment journeys, which is key for adherence, especially with specialty products like biosimilars, where sales growth was over 22% CAGR as of Q2 2025.

Investor relations and transparent communication of financial results

Maintaining trust with the investment community is a formal, scheduled relationship. Dr. Reddy's Laboratories communicates results quarterly, with the Head of Investor Relations, Richa Periwal, often leading the engagement. The company held its Q4 and full-year FY25 earnings call on May 9, 2025. Furthermore, Dr. Reddy's Laboratories actively participated in virtual investor conferences, such as one organized by Investec on September 5, 2025, and another by Centrum Broking on August 21, 2025, to engage with institutional investors. The company's market capitalization was reported around $11.6B to $11.95B in late 2025.

Dr. Reddy's Laboratories Limited (RDY) - Canvas Business Model: Channels

You're looking at how Dr. Reddy's Laboratories Limited actually gets its products-from complex generics to APIs-into the hands of customers across the globe. It's a multi-pronged approach, shifting gears depending on whether you're selling in a highly regulated market like the US or a rapidly growing one like India.

The overall revenue for the full fiscal year 2025 (FY25) stood at ₹325,535 Million, which shows the scale of the distribution challenge and success. Here's a quick look at where that money came from geographically, which dictates the channel strategy:

Segment	FY25 Revenue (₹ Million)	Approximate Share of Global Generics Revenue (Based on H1FY25 Mix)
North America	145,164	47%
Europe	35,882	7%
India	53,734	17%
Emerging Markets	54,771	18%
PSAI (APIs)	33,846	11%

Direct sales force to hospitals, clinics, and pharmacies in India and Emerging Markets.

In India, the reach is massive and relies heavily on established local infrastructure. Dr. Reddy's Laboratories uses a direct sales force that interfaces with a deep network of partners. This is how they ensure deep market penetration for their generics portfolio in the domestic market.

• The distribution core in the Indian generics market is supported by over 5,000 stockists.
• This network ultimately reaches more than 200,000 pharmacies across India.

For Emerging Markets, the strategy is also direct-heavy, supporting sales teams that navigate local regulatory and tender environments, which contributed ₹54,771 Million in FY25 revenue.

Wholesalers and distributors in regulated markets like the USA and Europe.

Regulated markets, particularly the US, require a different channel setup, often involving intermediaries who manage complex payer and formulary access. North America alone accounted for ₹145,164 Million in FY25 revenue, making channel efficiency here critical. For specialty products, like the novel biologic Crespira launched in 2024, the company uses a hybrid model.

• For US specialty products, direct sales teams and aligned partners generate 70% of the revenue.
• The broader generics channel in the US deals with high power from consolidated wholesalers and Pharmacy Benefit Managers (PBMs).
• Europe, contributing ₹35,882 Million in FY25, emphasizes hospital and injectable channels, often through tender-led markets.

API sales directly to other pharmaceutical manufacturers globally.

The Pharmaceutical Services and Active Ingredients (PSAI) business is fundamentally a Business-to-Business (B2B) channel, where Dr. Reddy's Laboratories acts as a direct supplier to other drug makers. This segment brought in ₹33,846 Million in FY25. They position themselves as a trusted partner for high-quality, affordable ingredients.

Dr. Reddy's Laboratories' API business offers over 250+ high-quality Active Pharmaceutical Ingredients and has a presence in over 80+ countries, leveraging its global regulatory expertise to serve these manufacturers directly.

Retail pharmacy chains and e-commerce for Over-The-Counter (OTC) products.

For the B2C side, which includes OTC products, Dr. Reddy's Laboratories utilizes modern retail channels. This is a growing area, especially following the integration of the acquired Consumer Healthcare business in Nicotine Replacement Therapy (NRT).

• Digital adoption is a key growth lever, with e-pharmacy partnerships contributing over 15% to domestic formulation sales.
• The overall customer base is bifurcated, with the B2B segment (distributors, hospitals) estimated at 65% of FY24 revenue, meaning the B2C/OTC channel is a smaller, but strategically important, part of the mix.

Finance: draft 13-week cash view by Friday.

Dr. Reddy's Laboratories Limited (RDY) - Canvas Business Model: Customer Segments

You're looking at the key groups Dr. Reddy's Laboratories Limited serves based on their FY2025 performance data. It's about who buys their products across generics, APIs, and the recently integrated consumer health business.

The primary customer base is Global patients seeking affordable, quality generic and biosimilar drugs. This segment is served through the Global Generics business, which generated ₹289,552 Million in revenue for the full year FY2025. This core group relies on Dr. Reddy's Laboratories Limited to provide access to necessary medicines.

The distribution network forms the next critical set of customers: Wholesalers and pharmacy chains in North America, Europe, and India. These geographies represent significant portions of the Global Generics revenue stream:

• North America contributed ₹145,164 Million in FY2025.
• India contributed ₹53,734 Million in FY2025.
• Europe contributed ₹35,882 Million in FY2025.

The company also focuses on expanding its reach through strategic product launches in these regions, such as reporting increased revenues from key products in the U.S. during FY2025.

Another distinct customer group is Other pharmaceutical companies purchasing Active Pharmaceutical Ingredients (APIs). This is captured under the Pharmaceutical Services and Active Ingredients (PSAI) segment, which recorded revenues of ₹33,846 Million in FY2025. These companies depend on Dr. Reddy's Laboratories Limited for high-quality raw materials to manufacture their own medicines.

Finally, the consumer-facing segment includes Consumers of Nicotine Replacement Therapy (NRT) and other OTC products. This business was bolstered by the acquisition of the global Nicotinell portfolio outside the United States. For the full year FY2025, the acquired NRT business contributed revenues of ₹12,020 Million to the total. The Nicotinell brand itself is noted as the second biggest globally in the NRT category, excluding the United States, and holds the first or second position in 14 of the top 17 global markets. This segment also includes other consumer healthcare products, with the total company revenue for the Others segment being ₹2,137 Million in FY2025.

Here's a quick look at how the major revenue-generating customer-facing segments stacked up in FY2025 (all figures in Millions of Indian Rupees):

Customer Segment Focus Area	Relevant Business Segment	FY2025 Revenue (₹ Million)
Global Patients (US/EU/India Focus)	North America (Global Generics)	145,164
Global Patients (India Focus)	India (Global Generics)	53,734
Global Patients (EU Focus)	Europe (Global Generics)	35,882
Pharma Companies (APIs)	PSAI	33,846
NRT/OTC Consumers	Acquired NRT Business Revenue	12,020

The total consolidated revenue for Dr. Reddy's Laboratories Limited in FY2025 was ₹325,535 Million. The company is also actively serving the biosimilar market, evidenced by the recent FDA acceptance of their Biologic License Application for AVT03, a proposed biosimilar to Prolia and Xgeva.

Dr. Reddy's Laboratories Limited (RDY) - Canvas Business Model: Cost Structure

The Cost Structure for Dr. Reddy's Laboratories Limited is heavily weighted towards supporting its global operations, research pipeline, and market presence. You'll see significant outlays in areas critical for a large, diversified pharmaceutical company.

Research and Development (R&D) remains a substantial, non-negotiable cost. This expenditure fuels the pipeline, which is key for long-term revenue generation through complex generics, biosimilars, and novel assets. For the full fiscal year 2025, this investment was significant.

The Selling, General & Administrative (SG&A) expenses reflect the cost of maintaining a global footprint, covering marketing, sales force operations across multiple geographies like the U.S. and Europe, and general corporate overhead. This is typically the largest operating expense category.

Ongoing Capital Expenditure (CapEx) is necessary to maintain and upgrade manufacturing facilities to meet global compliance standards and to expand capacity for anticipated growth, especially in key product areas.

Here's the quick math on the key cost components for Dr. Reddy's Laboratories Limited as of FY25:

Cost Component	Amount (FY25)	Notes/Context
R&D Expenditure	₹27,380 Mn	Equated to 8.4% of revenues
Selling, General & Administrative (SG&A) Expenses	₹93,870 Mn	Reflects global market access and operational costs
Raw Material Costs	₹5,684 crore	As specified for FY25
Employee Benefit Expenses	₹5,580 crore	As specified for FY25
Capital Expenditure (CapEx)	₹27,504 Mn	Reported spend for capacity expansion and facilities

You should also note the other fixed and variable costs that underpin the operations, which are substantial given the scale of Dr. Reddy's Laboratories Limited:

• Total Revenues for FY25 were ₹325,535 Mn, providing the base against which these costs are measured.
• The SG&A expense of ₹93,870 Mn represents a significant portion of the total operating costs.
• CapEx for FY25 reached ₹27.504 billion, showing a notable increase of 67.7% over the prior year, indicating heavy investment in infrastructure.
• The R&D spend of ₹27,380 Mn is a commitment to future innovation, even as the company manages current operational expenses.

Finance: draft 13-week cash view by Friday.

Dr. Reddy's Laboratories Limited (RDY) - Canvas Business Model: Revenue Streams

You're looking at the core ways Dr. Reddy's Laboratories Limited brings in money as of late 2025. It's a mix, but the generics business clearly drives the bulk of the top line. Honestly, the numbers from the fiscal year ending March 31, 2025, give a very clear picture of where the revenue is coming from.

The Total consolidated revenue for FY25 was ₹325,535 Mn. That's a solid year of growth. This total is built up from a few key areas, with Global Generics being the undisputed leader.

Here is the breakdown of the major revenue streams by segment for the full year FY25:

Revenue Segment	FY25 Revenue (₹ Mn)	Approximate % of Total Revenue
Global Generics	289,552	89%
PSAI (APIs & Services)	33,846	10%
Others	2,137	0.2%
Total Consolidated Revenue	325,535	100%

The Global Generics segment is where most of the action is, covering both branded and unbranded products across key geographies. This segment's revenue of ₹289,552 Mn is the foundation. Within this, you see the impact of recent strategic moves.

Specifically regarding the acquired portfolio, the Revenue from the acquired Nicotine Replacement Therapy (NRT) business was ₹12,020 Mn in FY25. This acquisition is a significant, distinct revenue stream now integrated into the overall generics performance.

The other major component feeding the top line is the supply of raw materials and services:

• Sales of Active Pharmaceutical Ingredients (APIs) to third-party manufacturers are captured under the PSAI segment, which brought in ₹33,846 Mn for FY25.
• The PSAI segment growth was driven by new launches and higher API volumes, plus growth in the services business.

Now, about the biosimilars. While the company is making strategic investments and advancing its pipeline, including receiving regulatory acceptance for a denosumab biosimilar and marketing authorization for rituximab in the UK during Q4FY25, the search results don't isolate a specific revenue figure for Biosimilar sales in regulated and emerging markets as a standalone line item for the total FY25 revenue in the primary segment reporting. These sales are likely reported within the Global Generics segment breakdown (North America, Europe, Emerging Markets) or are still nascent enough not to warrant a separate top-line reporting category yet.

To be fair, the Global Generics revenue of ₹289,552 Mn is further detailed by geography:

• North America: ₹145,164 Mn
• Emerging Markets: ₹54,771 Mn
• India: ₹53,734 Mn
• Europe: ₹35,882 Mn

Finance: review the Q1 FY26 guidance to see if the NRT contribution is expected to grow faster than the underlying generics business.