Dr. Reddy’s Laboratories chief operating officer Erez Israeli has been named as the chief executive officer of the company.
Announcing his appointment, co-chairman and CEO G.V.Prasad said Mr.Israeli is being elevated and will assume office as CEO from August 1. He made this announcement at the June quarter results press briefing on Monday.
To media queries on whether this meant he was retiring, Mr. Prasad, who is son-in-law of Dr. Reddy’s founder K.Anji Reddy, said he was “not retiring, he (Mr.Israeli) is going to be more active than me.” The founder’s son Satish Reddy is the chairman.
Dr. Reddy's Laboratories Ltd, is a pharmaceutical company based in Hyderabad, Telengana, India. The company was founded by Anji Reddy, who had previously worked in the mentor institute, Indian Drugs and Pharmaceuticals Limited, of Hyderabad, India. Dr. Reddy's manufactures and markets a wide range of pharmaceuticals in India and overseas. The company has over 190 medications, 60 active pharmaceutical ingredients (APIs) for drug manufacture, diagnostic kits, critical care, and biotechnology products.