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MIRA INFORM REPORT
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Report No. : |
492864 |
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Report Date : |
23.02.2018 |
IDENTIFICATION DETAILS
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Name : |
DR. REDDY'S LABORATORIES,
INC. |
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Registered Office : |
107 College Road East
,Princeton, NJ, 08540 UK |
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Country : |
United States |
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Date of Incorporation : |
1984 |
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Legal Form : |
Domestic Profit Corporation |
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Line of Business : |
Subject develops,
manufactures, and markets generic pharmaceuticals in the United States. |
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No. of Employees : |
850 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with moderate
risk of default |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Exists |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
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United States |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
UNITED STATES - ECONOMIC OVERVIEW
The US has the most technologically powerful economy in the world, with
a per capita GDP of $57,300. US firms are at or near the forefront in
technological advances, especially in computers, pharmaceuticals, and medical,
aerospace, and military equipment; however, their advantage has narrowed since
the end of World War II. Based on a comparison of GDP measured at purchasing
power parity conversion rates, the US economy in 2014, having stood as the
largest in the world for more than a century, slipped into second place behind
China, which has more than tripled the US growth rate for each year of the past
four decades.
In the US, private individuals and business firms make most of the
decisions, and the federal and state governments buy needed goods and services
predominantly in the private marketplace. US business firms enjoy greater
flexibility than their counterparts in Western Europe and Japan in decisions to
expand capital plant, to lay off surplus workers, and to develop new products.
At the same time, businesses face higher barriers to enter their rivals' home
markets than foreign firms face entering US markets.
Long-term problems for the US include stagnation of wages for
lower-income families, inadequate investment in deteriorating infrastructure,
rapidly rising medical and pension costs of an aging population, energy
shortages, and sizable current account and budget deficits.
The onrush of technology has been a driving factor in the gradual
development of a "two-tier" labor market in which those at the bottom
lack the education and the professional/technical skills of those at the top
and, more and more, fail to get comparable pay raises, health insurance
coverage, and other benefits. But the globalization of trade, and especially
the rise of low-wage producers such as China, has put additional downward
pressure on wages and upward pressure on the return to capital. Since 1975,
practically all the gains in household income have gone to the top 20% of
households. Since 1996, dividends and capital gains have grown faster than
wages or any other category of after-tax income.
Imported oil accounts for nearly 55% of US consumption and oil has a
major impact on the overall health of the economy. Crude oil prices doubled
between 2001 and 2006, the year home prices peaked; higher gasoline prices ate
into consumers' budgets and many individuals fell behind in their mortgage
payments. Oil prices climbed another 50% between 2006 and 2008, and bank
foreclosures more than doubled in the same period. Besides dampening the
housing market, soaring oil prices caused a drop in the value of the dollar and
a deterioration in the US merchandise trade deficit, which peaked at $840
billion in 2008. Because the US economy is energy-intensive, falling oil prices
since 2013 have alleviated many of the problems the earlier increases had
created.
The sub-prime mortgage crisis, falling home prices, investment bank
failures, tight credit, and the global economic downturn pushed the US into a
recession by mid-2008. GDP contracted until the third quarter of 2009, making
this the deepest and longest downturn since the Great Depression. To help
stabilize financial markets, the US Congress established a $700 billion
Troubled Asset Relief Program (TARP) in October 2008. The government used some
of these funds to purchase equity in US banks and industrial corporations, much
of which had been returned to the government by early 2011. In January 2009,
Congress passed and President Barack OBAMA signed a bill providing an
additional $787 billion fiscal stimulus to be used over 10 years - two-thirds
on additional spending and one-third on tax cuts - to create jobs and to help
the economy recover. In 2010 and 2011, the federal budget deficit reached
nearly 9% of GDP. In 2012, the Federal Government reduced the growth of
spending and the deficit shrank to 7.6% of GDP. US revenues from taxes and
other sources are lower, as a percentage of GDP, than those of most other
countries.
Wars in Iraq and Afghanistan required major shifts in national resources
from civilian to military purposes and contributed to the growth of the budget
deficit and public debt. Through 2014, the direct costs of the wars totaled
more than $1.5 trillion, according to US Government figures.
In March 2010, President OBAMA signed into law the Patient Protection
and Affordable Care Act, a health insurance reform that was designed to extend
coverage to an additional 32 million Americans by 2016, through private health
insurance for the general population and Medicaid for the impoverished. Total
spending on healthcare - public plus private - rose from 9.0% of GDP in 1980 to
17.9% in 2010.
In July 2010, the president signed the DODD-FRANK Wall Street Reform and
Consumer Protection Act, a law designed to promote financial stability by
protecting consumers from financial abuses, ending taxpayer bailouts of
financial firms, dealing with troubled banks that are "too big to
fail," and improving accountability and transparency in the financial
system - in particular, by requiring certain financial derivatives to be traded
in markets that are subject to government regulation and oversight.
In December 2012, the Federal Reserve Board (Fed) announced plans to
purchase $85 billion per month of mortgage-backed and Treasury securities in an
effort to hold down long-term interest rates, and to keep short-term rates near
zero until unemployment dropped below 6.5% or inflation rose above 2.5%. In
late 2013, the Fed announced that it would begin scaling back long-term bond
purchases to $75 billion per month in January 2014 and further reduce them as
conditions warranted; the Fed ended the purchases during the summer of 2014. In
2014, the unemployment rate dropped to 6.2%, and continued to fall to 5.5% by
mid-2015, the lowest rate of joblessness since before the global recession
began; inflation stood at 1.7%, and public debt as a share of GDP continued to
decline, following several years of increases. In December 2015, the Fed raised
its target for the benchmark federal funds rate by 0.25%, the first increase
since the recession began. With US GDP growth below 2%, the Fed opted to raise
rates three times since then, and in mid-June 2017, the range for the target
rate stood at 1% to 1.25%.
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Source
: CIA |
STATUTORY
INFORMATION
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Legal
Name: |
DR. REDDY'S LABORATORIES, INC. |
|
Trade
Name: |
REDDY-CHEMINOR, INC. REDDY-CHEMINOR |
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ID: |
0100518911 |
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Date
Created: |
1984 |
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Date
Incorporated: |
05/13/1992 |
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Legal
Address: |
107 College Road East
,Princeton, NJ, 08540 UK |
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Operative
Address: |
107 College Road East Princeton, NJ 08540 United States |
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Telephone:
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609-375-9900 |
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Fax: |
609-228-6090 |
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Legal
Form: |
Domestic Profit Corporation |
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Email: |
NA |
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Registered
in: |
NEW JERSEY |
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Website:
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www.drreddys.com |
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Contact: |
PRESIDENT, SONIG ,ALOK |
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Staff: |
850 |
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Activity: |
NAICS 1: Drugs and Druggists'
Sundries Merchant Wholesalers NAICS 2: All Other Plastics
Product Manufacturing SIC 1: Pharmaceuticals SIC 2: Cases, Plastics |
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BANKS
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The company does not make its banking data
public |
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HISTORY
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The company was founded in 1984 and is based in Princeton, New Jersey.
Dr. Reddy's Laboratories Inc. operates as a subsidiary of Dr. Reddy's
Laboratories SA. |
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Dr. Reddy's Laboratories Inc. Key Developments The US Subsidiary of Dr. Reddy’s Laboratories Ltd. Reaches Settlement
with the US Government Regarding Company’s Compliance with the Consumer
Product Safety Act Dec 19 17 The US subsidiary of Dr. Reddy’s Laboratories Ltd. announced that it
has reached a settlement with the US Government, in a case that is more than
six years old, involving packaging for five blister-packed prescription
products. In a joint filing by the parties, Dr. Reddy’s and the US Department
of Justice agreed to the settlement of the action without any adjudication of
any issue of fact or law. Dr. Reddy’s has taken this investigation seriously,
cooperating with the government over the past six years. The safety of
patients and consumers is of paramount importance to Dr. Reddy’s, and the
company firmly disagrees with the government’s allegations. However, in order
to avoid any unnecessary costs and the distractions of prolonged litigation,
the company has chosen to settle the matter for USD five million. Dr. Reddy’s
is not aware of any reports that any child gained access to these products as
a result of the packaging or that any of the products caused children harm as
a result of the packaging. These products have not been distributed in the
packaging at issue since June 2012. Dr. Reddy’s remains firmly committed to
complying with all applicable requirements of the Consumer Product Safety
Act, including applicable packaging and reporting requirements. Dr. Reddy's Laboratories Inc. Presents at BIO One-on-One Partnering™,
Jan-07-2018 Dec 14 17 Dr. Reddy's Laboratories Inc. Presents at BIO One-on-One Partnering™,
Jan-07-2018 . Venue: San Francisco, California, United States. Horizon Pharma plc Announces District Court Decision to Uphold VIMOVO®
(Naproxen/Esomeprazole Magnesium) Patents Jun 27 17 Horizon Pharma plc announced that the United States District Court for
the District of New Jersey upheld the validity of two Horizon Pharma patents
covering VIMOVO® (naproxen/esomeprazole magnesium), and that Dr. Reddy’s
Laboratories Inc. and Dr. Reddy’s Laboratories Ltd., Mylan Pharmaceuticals
Inc., Mylan Laboratories Ltd., and Mylan Inc., and Lupin Ltd. and Lupin
Pharmaceuticals Inc. would infringe at least one of the two patents with
their proposed generic naproxen/esomeprazole magnesium products. On April 21,
2011, July 25, 2011, and June 28, 2013, Horizon filed patent infringement
lawsuits in District Court against Dr. Reddy’s, Lupin, and Mylan,
respectively, related to Abbreviated New Drug Applications filed with the
U.S. Food and Drug Administration to market generic versions of VIMOVO. The
lawsuits claim infringement of Horizon's U.S. Patent Nos. 8,557,285 (‘285
patent) and 6,926,907 (‘907 patent) titled “Pharmaceutical Compositions for
the Coordinated Delivery of NSAIDs,” which cover VIMOVO. The District Court’s
decision was made based on the validity of Horizon Pharma’s ‘285 and ‘907
patents for VIMOVO and the Court’s judgment will prevent Dr. Reddy’s, Mylan,
and Lupin from launching generic versions of VIMOVO in the United States. |
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PRINCIPAL
ACTIVITY
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Dr. Reddy's Laboratories Inc. develops, manufactures, and markets
generic pharmaceuticals in the United States. |
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Products/Services description: |
Its product include active pharmaceutical ingredients, generics in
North America, generics in European Union, branded formulations for the rest
of the world, and biologics. |
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Brands: |
Dr. Reddy's Laboratories |
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Sales are: |
Wholesale |
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Clients: |
Pharmaceutical industry |
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Suppliers: |
SARACA LABORATORIES LTD. India Dr. Reddy's Laboratories Ltd. India |
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Operations area: |
National |
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The company imports from |
India |
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The subject employs |
850 employees |
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Payments: |
Regular |
LOCATION
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Headquarters
: |
107 College Road East Princeton, NJ 08540 United States |
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Comments: |
NA |
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Branches: |
8800/ Cline Avenue Shireveport
LA 71106 United States 200 Smrst Corp Blvd Fl 7 Bridgewater, New Jersey USA 8800 Line Ave Shreveport, Louisiana 71106-6717 USA 2031 Rte 130 Unit D Monmouth Junction, New Jersey 08852 USA |
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Related
Companies: |
Dr Reddy's Laboratories Limited has locations
worldwide. |
GROUP
STRUCTURE AND SUBSIDIARY COMPANIES
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Listed at the stock exchange: |
NO |
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Capital: |
NA |
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Shareholders: |
Dr Reddy's Laboratories Limited Door No. 8-2-337, Road No. 3, India |
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Management: |
Title: PRESIDENT Name: SONIG ,ALOK Address: 107 COLLEGE ROAD EAST, PRINCETON US Title: SECRETARY Name: Chandrasekaran,Swaminathan Address: 107 COLLEGE ROAD EAST, PRINCETON US Title: TREASURER Name: Chandrasekaran,Swaminathan Address: 107 COLLEGE ROAD EAST, PRINCETON US Title: DIRECTORS Name: REDDY,SATISH K Address: 107 COLLEGE ROAD EAST, PRINCETON US Title: DIRECTORS Name: PRASAD,G V Address: 107 COLLEGE ROAD EAST, PRINCETON US Title: DIRECTORS Name: PURI,ANUPAM Address: 107 COLLEGE ROAD EAST, PRINCETON US |
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FINANCIAL
INFORMATION
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The company does not make its financial statements public. The
following information has been provided by private sources: |
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USD 2016 |
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Assets |
42 200
000 |
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Cash
flow |
Normal |
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LEGAL
FILINGS
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Annual Report Month: MAY Last Annual Report Filed:
05/23/2017 Year: 2017 |
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Patents Assigned to Dr. Reddy's
Laboratories Inc. |
Azacitidine process and
polymorphs Patent number: 9416152 Abstract: The present invention
relates to process for the preparation of azacitidine and its crystalline
forms. Type: Grant Filed: February 6, 2014 Date of Patent: August 16, 2016 Assignees: DR. REDDY'S
LABORATORIES LTD., DR. REDDY'S LABORATORIES, INC. Inventors: Praveen
Cherukupally, Satish Kumar Vujjini, Ganesh Varanasi, Sreenadha Charyulu Kandala, Srinivas Areveli,
Satyanarayana Raju Tirumalaraju Preparation of bendamustine and
its salts Patent number: 9376394 Abstract: The present
application relate to processes for the preparation of bendamustine and its
pharmaceutically acceptable salts. Type: Grant Filed: December 22, 2010 Date of Patent: June 28, 2016 Assignees: DR. REDDY'S
LABORATORIES LTD., DR. REDDY'S LABORATORIES, INC. Inventors: Rajasekhar
Kadaboina, Veerender Murki, Venkat Rao Badisa, Nageshwar Gunda Kappa opioid receptor agonists Patent number: 9303027 Abstract: The present invention
relates to a series of substituted compounds having the general formula (I),
including their stereoisomers and/or their pharmaceutically acceptable salts.
(I) Wherein A, m, R1s, R2, R3, R4 are as defined herein. This invention also
relates to methods of making these compounds including intermediates. The
compounds of this invention are effective at the kappa (?) opioid receptor
(KOR) site. Therefore, the compounds of this invention are useful as
pharmaceutical agents, especially in the treatment and/or prevention of a
variety of central nervous system disorders (CNS), including but not limited
to acute and chronic pain, and associated disorders, particularly functioning
peripherally at the CNS. Type: Grant Filed: July 19, 2011 Date of Patent: April 5, 2016 Assignees: DR. REDDY'S
LABORATORIES LTD., DR. REDDY'S LABORATORIES, INC. Inventors: Pradip Kumar Sasmal,
Vamsee Krishna Chintakunta, Vijay Potluri, Ish Kumar Khanna, Ashok Tehim,
Mahaboobi Jaleel, Thomas Hogberg, Oystein Rist, Lisbeth Elster, Thomas
Michael Frimurer, Lars-Ole Gerlach Preparation of crystalline
bazedoxifene and its salts Patent number: 9212172 Abstract: Aspects of the
present disclosure include crystalline bazedoxifene free base, crystalline
bazedoxifene acetate Form D, and processes for their preparation. The drug
compound having the adopted name “bazedoxifene acetate” has a chemical name
1-[4-(2-azepan-1-yl-ethoxy)benzyl]-2-(4-hydroxyphenyl)-3-methyl-1H-indol-5-ol
acetic acid, and has the chemical structure shown below as Formula I. Type: Grant Filed: September 14, 2011 Date of Patent: December 15,
2015 Assignees: DR. REDDY'S
LABORATORIES LIMITED, DR. REDDY'S LABORATORIES, INC. Inventors: Sundra Lakshmi Kanniah,
Rajesham Boge, Peddireddy Subbareddy, Lalita Kanwar, Srividya Ramakrishnan,
Ramya Kumar, Rakeshwar Bandichhor, Amarnath Reddy Lekkala, Ravi Kumar
Mylavarapu, Vagwala Raghunath DICLOFENAC PARENTERAL
COMPOSITIONS Publication number: 20140275261 Abstract: The present
application provides parenteral compositions of diclofenac or its
pharmaceutically acceptable salt and methods for making and using such
compositions. Some of the compositions of the present application has one or
more following properties: (1) ready to be injectable, (2) in the form of an
oil-water emulsion, (3) stable under appropriate storage conditions, (4)
containing therapeutically effective amount of diclofenac or its
pharmaceutically acceptable salt, (5) sterilizable by filtration (6)
containing components acceptable by regulatory agencies (e.g. the FDA), (7)
containing low oil content and thus not exacerbating hyperlipidemia, and (8)
is neither hypoallergenic nor vein irritating. Type: Application Filed: March 14, 2014 Publication date: September 18,
2014 Applicant: DR. REDDY'S
LABORATORIES, INC. Inventors: Franklin Okumu,
Andrew Xian Chen, Hailiang Chen Asenapine maleate Patent number: 8779161 Abstract: Aspects of the
present application relate to a microcrystalline monoclinic form of asenapine
maleate represented by structural Formula (I); processes for its preparation;
and pharmaceutically acceptable dosage forms thereof. Type: Grant Filed: June 16, 2011 Date of Patent: July 15, 2014 Assignees: Dr. Reddy's
Laboratories Limited, Dr. Reddy's Laboratories, Inc. Inventors: Srinivas Katkam,
Srinivas Polavarapu, Venkata Madhavi Yaddanapudi, Krishna Vinigari, Narasimha
Rao Pagadala, Rajeshwar Reddy Sagyam Purification of low isoelectric
point isoforms of darbepoietin Patent number: 8779110 Abstract: The invention
provides an efficient method of purification of a modified cytokine. The
process includes the use of a chromatographic technique for the purification
of the desired cytokine. The purified cytokine can be used as a therapeutic composition. Type: Grant Filed: June 23, 2009 Date of Patent: July 15, 2014 Assignees: Dr. Reddy's
Laboratories Limited, Dr. Reddy's Laboratories, Inc. Inventors: Chaiti Roy, Darshan
Koticha, Vivek Arthanari |
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Cases |
UNITED STATES OF AMERICA v. DR.
REDDY'S LABORATORIES, INC. Plaintiff: UNITED STATES OF
AMERICA Defendant: DR. REDDY'S
LABORATORIES, INC. Case Number: 3:2017cv13219 Filed: December 18, 2017 Court: New Jersey District
Court Office: Trenton Office County: Middlesex Referring Judge: Lois H.
Goodman Presiding Judge: Freda L.
Wolfson Nature of Suit: Other Statutory
Actions Cause of Action: 28:1345 Jury Demanded By: None HORIZON PHARMA, INC. et al v. DR. REDDY'S LABORATORIES INC. et al, No. 3:2011cv02317 -
Document 498 (D.N.J. 2017) Court Description: REDACTED
AMENDED MEMORANDUM OPINION filed. Signed by Judge Mary L. Cooper on
7/10/2017. (mps) Dr. Reddy's Laboratories, Inc.
v. Thompson, 302 F. Supp. 2d 340 (D.N.J. 2003) U.S. District Court for the
District of New Jersey - 302 F. Supp. 2d 340 (D.N.J. 2003) September 15, 2003 Pfizer Inc.,
Plaintiff-appellant, v. Dr. Reddy's Laboratories, Ltd. and Dr. Reddy's
Laboratories, Inc., Defendants-appellees, 359 F.3d 1361 (Fed. Cir. 2004) Annotate this Case U.S. Court of Appeals for the
Federal Circuit - 359 F.3d 1361 (Fed. Cir. 2004) Decided February 27, 2004 Rehearing and Rehearing En Banc
Denied April 15, 2004 |
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OFAC Sanctions List
Search |
The company is not listed
in the OFAC list. |
SUMMARY
|
|
|
|
Founded in 1984, Dr.
Reddy's Laboratories, Inc. is a mid-sized organization in the pharmaceutical
products wholesale and manufacturer companies industry located in Princeton,
NJ. It has 850 full
time employees and generates an estimated $42 million in estimated assets. The company mainly
imports from India, operating as a subsidiary of Dr Reddy's Laboratories
Limited, headquartered in India. |
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RISK
INFORMATION
|
|
|
DEBTS |
Controlled |
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PAYMENTS |
Regular |
|
CASH
FLOW |
Normal |
|
STATUS |
ACTIVE |
|
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|
|
INTERVIEW |
|
|
NAME |
NA |
|
POSITION |
Operator |
|
COMMENTS |
The man contacted confirmed address, managers, parent company,
branches and acivity. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 65.05 |
|
|
1 |
INR 90.41 |
|
Euro |
1 |
INR 79.83 |
|
US Dollar |
1 |
INR 64.96 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
NIY |
|
|
|
|
Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.