Dr. Reddy's

Our scale of operations and the fact that we are listed on the NYSE ensures that we get significant attention from investors. Large institutional investors are serviced by our Investor Relations Cell, while individual investor grievances are addressed by the Company Secretary. The IRC and the CS report to the Shareholder's Grievance Committee, a three member board committee that is headed by an independent director.

Through our interactions with Company management, we realize that our investors are primarily concerned with operational issues that are important for our base business performance.

We see Biologics as a key differentiator vis-à-vis our peers in the next few years. Our strategic focus now is to usher in second wave in biologics. Towards this, a multi-year investment plan is in place to build integrated capabilities and infrastructure in the biologics arena. This year, we created a dedicated, full-fledged, regulated markets-focused development and commercial strategy team based out of the US.

Going forward, the aim is to expand our current India-based team of 300 to approximately 500 by 2013. Focus on emerging markets, focus, early launches and timely entry into the regulated market in 2015 will help us create a self-sustaining business model.

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Further information on our future business, financial and sustainability performance can be found in the Form 20F for Fiscal 2009-10 which has been posted on our website in the "Investors" section. (http://www.drreddys.com/ investors/sec_filings.html)

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