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Dr Reddy's Laboratories Company in India: An Overvie - Essay Example

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Topic: Case Study Institution Affiliation: Date: Dr Reddy's Laboratories: An Overview The year 1984 saw the establishment of the Dr Reddy's Laboratories Company in India. Domestic markets were in dire need of bulk drugs, necessitating the establishment of the company to account for this need…
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Dr Reddys Laboratories Company in India: An Overvie
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Download file to see previous pages Few years later, towards the end of the 1980s, the company’s business aspect has taken a significant position in the pharmaceutical industry. Given its potential in the industry, it had by this time enough resources and effective production processes to produce products for both domestic and international markets. As a matter of fact, the company by this time had sophisticated production processes that enabled it to provide sophisticated products in the market. As a result, its ability to export its products was rising, especially after successfully reaching the U.S market through multinational companies that it made products for. As its business line gained momentum towards the 1990s, European and Japanese suppliers were consistently being overtaken by Dr Reddy's Laboratories. Its popularity kept rising as more and more markets demanded the company’s quality products. In the same period, the company diversified its market and product aspects, targeting more markets within and without and also producing more pharmaceutical products as demand increased. The primary interest in this pursuit since then has been to exploit favourable patent and regulatory systems around the world especially in the U.S in order to engage in generic products production, thereby creating strong brand images for its products and gaining an exclusive control of the pharmaceutical market locally and internationally. Today, the company enjoys successful global operations in numerous countries, serving diverse markets and offering numerous pharmaceutical products across international markets. Strategic Position as at 2003 Business entities are governed by set goals and objectives. These goals and objectives influence decision making processes within and without the organizations in a bid to achieve the set goals and objectives. The strategic position of a business or a company for that matter is highly dependent on the activities undertaken by the company in regard to its operations and business performance. The success or failure of a business with time determines the strategic position of that business at a given point in time (Barbara, 2009, p.132). In order to achieve the set goals and objectives and therefore realize successful business operations and performance, strategies to the realization of these goals and objectives must be specified. As at the year 2003, the operations and business performance of Dr Reddy's Laboratories had already taken strong foundation and operational environment around the world. Just like any other business, the operational environmental is always characterized by uncertain events that are either beneficial or loss-oriented. Legal battles are inevitable from time to time and Dr Reddy's Laboratories is no exception. For Dr Reddy's Laboratories, the year 2003 was crucial in determining its strategic position. The management and the company’s leadership had to place the company within the globalization context even as it dealt with legal and operational challenges. This year saw the performance of the company take a down turn, owed to legal and operational concerns. The company had engaged in a number of legal battles especially those that it had been pursued by other stakeholders in the industry within and without India. In terms of operations, significant challenges were emerging in both domestic and international ...Download file to see next pagesRead More
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