Dr Reddy’s Labs to infuse ₹1,500 crore capex with focus on biosimilars, injectables

According to Chief Financial Officer (CFO) Parag Agarwal, Dr Reddy’s Laboratories has set aside around Rs 1,500 crore in capital expenditures for FY23, the majority of which is planned to be used to expand the company’s biosimilar and injectable business capacities.

The major pharmaceutical company also intends to use the funds to expand the capabilities of the current plants, solidify R&D efforts, and make additional investments in digital projects.

The CFO stated in an investor call that the capex for the entire year “is probably going to be around Rs 1,500 crore in that range, and a lot of this capital is towards developing capacity for our biosimilar business and for our injectable business.”

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