Dr. Reddy's Laboratories Announces the Appointment of Milan Kalawadia to CEO North America

Rhea-AI Summary

Dr. Reddy's Laboratories has appointed Milan Kalawadia as CEO of the North America division. Kalawadia, a veteran of the company with 18 years of experience, will be based in Princeton, New Jersey. He has held roles in Finance, Investor Relations, Corporate Development, Marketing, and most recently served as Chief Commercial Officer. Under his leadership, the North American division achieved three consecutive years of growth, surpassing $1 billion in revenue and setting record sales for FY24. Kalawadia's extensive industry knowledge and innovative approach are expected to propel the North American business to new heights.

Positive

• Appointment of experienced internal candidate Milan Kalawadia as CEO of North America.
• 18-year company veteran with a proven track record in driving growth and innovation.
• North American division achieved three consecutive years of growth under his leadership.
• Surpassed $1 billion revenue threshold and set record sales in FY24.
• Experienced in various roles including Finance, Investor Relations, Corporate Development, and Marketing.
• Played a critical role in new growth initiatives such as acquisition of OTC brands and development of e-commerce presence.

Negative

• Potential challenges in maintaining the current growth trajectory.
• Transition risk as new leadership may face unforeseen obstacles.

HYDERABAD, India--(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.

Milan Kalawadia (Photo: Business Wire)

“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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240528120424/en/

INVESTOR RELATIONS

RICHA PERIWAL

RICHAPERIWAL@drreddys.com

MEDIA RELATIONS

USHA IYER

USHAIYER@DRREDDYS.COM

Source: Dr. Reddy's Laboratories Ltd.

FAQ

Who is the new CEO of Dr. Reddy's North America division?

Milan Kalawadia has been appointed as the new CEO of Dr. Reddy's North America division.

What experience does Milan Kalawadia bring to his role as CEO?

Milan Kalawadia has 18 years of experience at Dr. Reddy's, holding various roles including Chief Commercial Officer, Finance, Investor Relations, and Marketing.

Where will Milan Kalawadia be based as the CEO of Dr. Reddy's North America?

Milan Kalawadia will be based in Princeton, New Jersey.

How has Dr. Reddy's North America division performed under Milan Kalawadia's leadership?

Under Milan Kalawadia's leadership, the North America division achieved three consecutive years of growth and surpassed $1 billion in revenue, setting record sales in FY24.

What are some of the initiatives led by Milan Kalawadia at Dr. Reddy's?

Milan Kalawadia led initiatives including the acquisition of OTC brands, development of e-commerce presence on Amazon, and engagement with alternate channel partners.