Dr Reddy’s Labs has been credited with turning the Indian bulk drug industry from dependence on imports in the mid 1980s to self reliance in the mid 1990s and finally into the export-oriented industry that it is today. It was the first company to take up drug discovery research in India (in 1993). In April 2001 Dr Reddy’s Labs became the first Asian pharmaceutical company outside Japan to be listed on the New York Stock Exchange. The company has revenues of $546 million (Rs.2,427 crore) during the fiscal year 2006 and is India’s second largest pharmaceutical company.
Naandi Foundation, a not-for-profit development institution that strives for eradication of poverty has Dr Reddy as its founding father. He is also founder-chairman of Dr Reddy’s Foundation for Human and Social Development, a social arm of Dr. Reddy’s Labs.
Dr Reddy has been the recipient of several awards and honors. Notable among them are the Sir PC Ray award, twice conferred on him by the Indian Chemical Manufacturers Association (1984, 1992) and the Federation of Asian Pharmaceutical Associations (FAPA)’s FAPA-Ishidate Award for Pharmaceutical Research in 1998. He was voted Businessman of the Year by India’s leading business magazine Business India in 2001. The CHEMTECH Foundation bestowed on him the Achiever of the Year award in 2000 and the Hall of Fame award in 2005. In 2001, he was awarded the Padma Shri.