Dr Reddy’s Laboratories, the second largest drug manufacturer of the country, will be transformed itself from a generic company to innovator company within a period of ten years, said, Dr Anji Reddy, chairman of Dr Reddy’s Laboratories.

Dr Reddy was speaking at the BioAsia 2011 CEO conclave, which is being held in Hyderabad. The company’s DRL-17822, anti-cholesterol drug candidate, will enter the phase II of clinical trails in May. At this point of time nobody can do profiteering on products and discovery of drugs cannot be determined with money alone.

Commenting on the Indian pharmaceutical industry he said that there is a need to improve infrastructure and streamline different activities. Biologics are no threat for the synthetic drugs in the present state he answered to a query in the conclave.

Taking part in the discussion, Dr Bobba Venkatadri, general partner, Venture East, said that India has the opportunity to become the medicinal hub of the world in the next ten years’ time. Affordability of high quality of medicine has to be ensured by utilizing the talent.

“We are able to maintain our edge in manufacturing, distribution etc. and Indian pharmaceutical industry is going to grow tremendously in the next ten years. Buying of Indian companies by multinational companies is not going to happen”, said, Dr D S Brar, chairman, GVK.