Dr Reddy’s Laboratories CFO ParagAgarwal said that the organisation has set aside around Rs 1,500 crore in capital expenditures for FY23, the majority of which is planned to be used to expand the company’s biosimilar and injectable business capacities.
The Hyderabad-based pharmaceutical company also intends to use the funds to expand the capacity of current plants, stabilise R&D pursuits, and make more investments in digital initiatives.
“The capex for the full year is likely to be around Rs 1,500 crore in that range, and a lot of this capex is towards building capacity for our biosimilar business and for our injectable business,” the chief financial officer said in an analyst call.
He was replying to a query about the company’s capex plans for ongoing financial year.
