“Dr. Reddy’s Laboratories to Establish Wholly-Owned Subsidiary for Nutraceuticals and Supplements”
Dr. Reddy’s Laboratories has received board approval to create a wholly-owned subsidiary dedicated to nutraceuticals, vitamins, minerals, herbals, and supplements. The subsidiary will focus on health and well-being, including medical nutrition, specialized nutrition, supplements, and related products. This move aligns with the company’s strategy to expand its presence in emerging segments, as mentioned in its 2022-23 annual report. The proposed authorized and paid-up share capital for the subsidiary is Rs 10 lakh, pending approval from the corporate affairs ministry. The Indian dietary supplements market is growing, with an estimated CAGR of 13.5% from 2023-2028, reaching Rs 95,810 crore by 2028. On Thursday, Dr. Reddy’s Laboratories’ shares closed at Rs. 5430, down 1.21% at NSE.