Dr. Reddy’s New Zealand Ltd. is a wholly owned subsidiary of Dr. Reddy’s Laboratories Ltd., Switzerland. The company was set up in June 2008 as a result of acquisition of a New Zealand owned company called “Affordable Healthcare Ltd.” Affordable Healthcare Ltd. was a company supplying pharmaceutical drugs bought from Dr. Reddy’s.
The basic activities of the company remained the same even after the acquisition which is gaining tenders from the New Zealand govt. body, Pharmac and supplying the pharmaceutical drugs for the prescription market.
New Zealand pharmaceutical business is a tender based market for prescription drugs. Once the patent for a new drug expires, Pharmac runs a confidential tender for most of the products. Dr. Reddy’s New Zealand Ltd. has been participating in the tenders since its inception and has won three tenders for sole supply of Omeprazole, Pantoprazole and Ondansetron.
Other than tenders there are few non-tender products which are non-sole supply. Currently, the non sole -supply products are Risperidone, Quetiapine and Olanzapine. The listing for the non-sole supply products are also provided by Pharmac.
The regulations for supply of medicine in New Zealand are similar to any developed countries like US, Europe and Australia. All the medicines have to be pre-approved by regulatory body, Medsafe before it is supplied in New Zealand market.
A couple of products are in-licensed from overseas supplier by Dr. Reddy’s New Zealand Ltd. for which the company directly purchases the goods from the relevant suppliers and supplies to the market. Currently, Omeprazole injection and Glutenzyme Plus are two such products.
The overall operations of New Zealand business has a number of staff for various roles like Operations, Administration, Marketing and Finance who work for the company which is now running its operations from Auckland, New Zealand. All the local activities of the company for New Zealand are satisfactorily dealt with by this office.