Hyderabad: Dr Kallam Anji Reddy, founder of Dr Reddy's Laboratories, passed away this evening. He was 73.
He was reported to be suffering from cancer and had been hospitalised for the last one week in Hyderabad.
Padmabhushan awardee Dr Reddy worked with Indian Drugs and Pharmaceuticals Limited (IDPL), a pharmaceutical company, from 1969 till 1975.
The pharmaceuticals stalwart founded two companies in the sector - Uniloids and Standard Organics Limited. In 1984, with Rs 25 lakhs as initial capital expenditure, he started Dr. Reddy's Laboratories, a pioneer in Indian pharmaceutical industry.
Dr Reddy's Labs started as an export dependent company in the 80's to an independent entity in the 1990's to finally an export-oriented company. Dr. Reddy’s passion for research led DRL taking up drug discovery research in 1993 becoming the first pharmaceutical company in India to initiate basic drug discovery research.
He was instrumental in DRL filing several patents worldwide. Under his stewardship, the company has licensed its discoveries in the anti-diabetes field for co-development to Novo Nordisk of Denmark, a world leader in diabetic care. He had also set-up the Institute of Life Sciences in Hyderabad, which is a public-private partnership with the Andhra Pradesh government for carrying out cutting edge research in life sciences.
He was also the chairman of Dr Reddy's Foundation, the corporate and social responsibility arm of the group.