Yahoo Finance Dr. Reddy's Laboratories Announces the Appointment of Milan Kalawadia to CEO North America
HYDERABAD, India, May 28, 2024--(BUSINESS WIRE)--Dr. Reddy's Laboratories Ltd. (BSE: 500124, NSE: DRREDDY, NYSE: RDY, NSEIFSC: DRREDDY, along with its subsidiaries together referred to as "Dr. Reddy's"), today announced the appointment of Milan Kalawadia as Chief Executive Officer, North America, and member of the Management Council. As part of the Dr. Reddy’s senior leadership team, he will be responsible for the company’s North America business and will be based out of the Princeton, New Jersey, U.S. office.
"I am excited to start this next chapter in my journey at Dr. Reddy’s," says Milan Kalawadia. "I have been fortunate to be a part of a remarkable team that has achieved significant milestones over that last 18 years. I now look forward to leveraging the relationships I have built over my years within the organization, as well as the industry connections I have made to continue to lead the North America division to new heights."
During his 18-year tenure at Dr. Reddy’s, Milan has held various positions of increasing responsibility beginning in 2006 with roles in Finance, Investor Relations, Corporate/Business Development, Marketing and Head of NAG OTC and SRx divisions. Most recently, Milan served as Chief Commercial Officer, responsible for the customer-facing and commercialization operations for the three main verticals of the core NA business: retail Rx, hospital/institutional injectable, and private label OTC. Milan led the early efforts to develop strategies for the Biosimilars and the Self-care & Wellness business units in the US. He played a critical role in driving various new growth initiatives including the acquisition of OTC brands; the development of our e-commerce presence on Amazon; and engaging with alternate channel partners.
"During the last three years, Milan’s efforts as Chief Commercial Officer were instrumental in driving North America to three consecutive years of growth over the $1 billion revenue threshold and achieving record sales in FY24," says Erez Israeli, Chief Executive Officer, Dr. Reddy’s Laboratories Ltd. "His track record and deep understanding of the industry, coupled with his passion for innovation and customer-centric approach, make him the ideal candidate to lead the North America business unit into its next chapter of success."
Milan holds a Bachelor of Science degree in Management Science and Information Systems from Rutgers University, School of Business; and a Master of Business Administration degree from Carnegie Mellon University, Tepper School of Business.
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About Dr. Reddy’s: Dr. Reddy’s Laboratories Ltd. (BSE: 500124, NSE: DRREDDY, NYSE: RDY, NSEIFSC: DRREDDY) is a global pharmaceutical company headquartered in Hyderabad, India. Established in 1984, we are committed to providing access to affordable and innovative medicines. Driven by our purpose of ‘Good Health Can’t Wait’, we offer a portfolio of products and services including APIs, generics, branded generics, biosimilars and OTC. Our major therapeutic areas of focus are gastrointestinal, cardiovascular, diabetology, oncology, pain management and dermatology. Our major markets include – USA, India, Russia & CIS countries, China, Brazil and Europe. As a company with a history of deep science that has led to several industry firsts, we continue to plan ahead and invest in businesses of the future. As an early adopter of sustainability and ESG actions, we released our first Sustainability Report in 2004. Our current ESG goals aim to set the bar high in environmental stewardship; access and affordability for patients; diversity; and governance. For more information, log on to: www.drreddys.com.
Disclaimer: This press release may include statements of future expectations and other forward-looking statements that are based on the management’s current views and assumptions and involve known or unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. In addition to statements which are forward-looking by reason of context, the words "may", "will", "should", "expects", "plans", "intends", "anticipates", "believes", "estimates", "predicts", "potential", or "continue" and similar expressions identify forward-looking statements. Actual results, performance or events may differ materially from those in such statements due to without limitation, (i) general economic conditions such as performance of financial markets, credit defaults, currency exchange rates, interest rates, persistency levels and frequency / severity of insured loss events, (ii) mortality and morbidity levels and trends, (iii) changing levels of competition and general competitive factors, (iv) changes in laws and regulations and in the policies of central banks and/or governments, (v) the impact of acquisitions or reorganization, including related integration issues, and (vi) the susceptibility of our industry and the markets addressed by our, and our customers’, products and services to economic downturns as a result of natural disasters, epidemics, pandemics or other widespread illness, including coronavirus (or COVID-19), and (vii) other risks and uncertainties identified in our public filings with the Securities and Exchange Commission, including those listed under the "Risk Factors" and "Forward-Looking Statements" sections of our Annual Report on Form 20-F for the year ended March 31, 2023. The company assumes no obligation to update any information contained herein.
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Contacts
INVESTOR RELATIONS
RICHA PERIWAL
RICHAPERIWAL@drreddys.com
MEDIA RELATIONS
USHA IYER
USHAIYER@DRREDDYS.COM
