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Dr Reddy's Wins National Award for Excellence in Corporate Governance

Submitted by: Dr. Reddy's Laboratories

Categories: Corporate Governance

Posted: Dec 30, 2002 – 11:00 PM EST


Dec. 30 /CSRwire/ - HYDERABAD, India - Dr. Reddy's Laboratories, an emerging global pharmaceutical company, was today awarded the "ICSI National Award for Excellence in Corporate Governance" for the year 2002.

The award carries a citation and a trophy.

Mr. VS Vasudevan, Chief Financial Officer, Dr. Reddy's, received the trophy from His Excellency Shri Bhairon Singh Shekhawat, Vice President of India, at a glittering ceremony held at Vigyan Bhavan in New Delhi. Mr. Santosh Kumar Nair, Company Secretary, Dr. Reddy's, was also felicitated on the occasion.

Speaking on the occasion, Mr. Vasudevan said, "We thank ICSI for this recognition. The Company has always been committed to creating and sustaining shareholder value through good corporate governance practices. We will unstintingly pursue this journey of excellence and are committed to setting benchmarks for the industry."

The Institute of Company Secretaries of India instituted the award last year. The award selection was conducted by a 15-member jury headed by Shri MN Venkatachaliah, former Chief Justice of India. The jury members included eminent industry leaders and distinguished members of statutory bodies such as Securities Exchange Board of India (SEBI) and Department of Company Affairs (DCA). The award is based on performance in areas such as Board independence, Board systems and procedures, transparency and disclosures, investor relations, services and compliances, shareholder's value enhancement and claims and social responsibility.

About Dr. Reddy's

Established in 1984, Dr. Reddy's Laboratories (NYSE: RDY) is an emerging global pharmaceutical company with proven basic research capabilities. The company develops, manufactures and markets a wide range of pharmaceutical products in India and overseas. Dr. Reddy's produces finished dosage forms, active pharmaceutical ingredients, diagnostic kits, critical care and biotechnology products. The basic research programme of Dr. Reddy's focuses on cancer, diabetes, bacterial infections and pain management.

This press release includes forward-looking statements, as defined in the U.S. Private Securities Litigation Reform Act of 1995. We have based these forward-looking statements on our current expectations and projections about future events. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results to differ materially. Such factors include, but are not limited to, changes in local and global economic conditions, our ability to successfully implement our strategy, the market acceptance of and demand for our products, our growth and expansion, technological change and our exposure to market risks. By their nature, these expectations and projections are only estimates and could be materially different from actual results in the future.

For more information, please contact:

Ms. Artie Hokkam Dr. Reddy's Laboratories
Phone: +1-201-760-2880


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