Corporate Mar 15, 2013
Hyderabad: K Anji Reddy, the founder and Chairman of nation's second-largest drugmaker Dr Reddy's Laboratories Ltd, passed away today.
Reddy, who founded DRL in 1984, was ailing for some time, a company statement said. He was 72. He died of liver cancer at 1545 hrs at the Apollo Hospital in Hyderabad.
Many in the industry saw in him a drug discovery pioneer. Dr Reddy set up his R&D facility at what was once his farm.
A chemical engineer who also served as a member on Prime Minister's Council on Trade & Industry, Reddy is survived by wife Samrajyam, daughter Anuradha and son K Satish Reddy, who is the managing director and COO of the company. His son-in-law G V Prasad is the Vice Chairman and CEO of the company.
In April 2011, he was honoured with the Padma Bhushan, one of the highest Civilian Awards in India, recognising his distinguished service of high order in the field of Trade and Industry.
Reddy spearheaded and founded the Neo-natal Intensive Care and Emergencies called 'NICE Foundation', the only institute for new-borns in Asia.
In 1998, Reddy set up Naandi Foundation for proving safe drinking water in rural areas. The foundation gives midday meals to 1.3 million government school-going children and farmers, a DRL statement said.
"Dr Reddy touched millions of lives through his contribution to the pharmaceutical industry and his philanthropic efforts," said Satish Reddy. "In improving access to affordable, high quality medicines and in innovation, his contributions have been extraordinary."
A BSc graduate from Bombay University with specialisation in Pharmaceutical Science and Fine Chemicals, Reddy obtained his PhD in Chemical Engineering from National Chemical Laboratory, Pune. Soon after his studies, he served in the state-owned IDPL before he founded the company in 1984.
He was the Chairman of Andhra Pradesh Industrial Development Corporation (APIDC), and President of The Indian Pharmaceutical Alliance. He served as a Board Member of GAIN, Switzerland (Global Alliance for Improved Nutrition) and also was on the Board of Directors for TB Alliance, New York (Global Alliance for TB Drug Development).
GVK Reddy, Founder Chairman and Managing Director of GVK Power and Infrastructure Ltd, said Andhra Pradesh has lost its favourite son, who established Andhra on industrial map of India and the world.
"The entire business community and society will miss the statesman who excelled not only in business but worked equally hard for the community development," GVK Reddy said in a statement.