Dr. Reddy’s is a global pharmaceutical company that develops, manufactures, and sells generic medicines across regulated markets like the U.S. and Europe and branded markets such as India and Russia. The company operates through three segments: Global Generics, Pharmaceutical Services and Active Ingredients (PSAI), and Others. Its core Global Generics business sells unbranded chemical equivalents in the U.S. and branded generics in India and Russia, where the company uses sales representatives to build brand equity with physicians. Dr. Reddy’s focuses on medical areas including oncology, cardiovascular, gastrointestinal, and respiratory health. The business model depends on managing patent expirations and capturing exclusivity windows for new generic launches. To offset price erosion in standard generics, Dr. Reddy’s expands into complex products, including biosimilars, GLP-1 peptides such as generic semaglutide, and consumer healthcare brands like Nicotinell. The PSAI segment manufactures active pharmaceutical ingredients for both internal use and external customers, providing vertical integration that reduces input costs. Additionally, the company operates Aurigene, which provides contract development and manufacturing services. Dr. Reddy’s strategy emphasizes building high-margin platforms in biologics and specialty medicines while using its global manufacturing infrastructure and internal supply chain.