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The company's first international move took it to Russia in 1992. There, Dr. Reddy's formed a joint venture with the country's biggest pharmaceuticals producer, Biomed.They pulled out in 1995 amid accusations of scandal, involving "a significant material loss due to the activities of Moscow's branch of Reddy's Labs with the help of Biomed's chief executive". [8]
In July 2021 US Department of Justice announce another settlement with Prime Health Care and its CEO Prem Reddy concerning kickbacks, overcharging for medical implants, and billing for a non-eligible provider by using another provider's billing identity. Dr. Reddy paid $1,775,000; and Prime paid $33,725,000. [43]
Kallam Satish Reddy is an Indian business executive and current Chairman of Dr. Reddy's Laboratories. [ 2 ] [ 3 ] Reddy joined Dr. Reddy's Laboratories in 1993 as executive director. Elevated to the role of Managing Director in 1997, he led the company's transition from a manufacturer of active pharmaceutical ingredients to one with a diverse ...
Benzex was later acquired by Dr. Reddy's Laboratories. He then left the industry to focus on construction. In 1990, he reemerged in pharmaceuticals and became the CEO and MD of Cheminor Drugs Ltd. In 2001, Cheminor Drugs merged with Dr. Reddy's Laboratories [3] and Prasad took over as the vice-chairman and CEO of the merged entity. [4]
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In the early 1980s, Reddy founded Desert Valley Medical Group in Victorville, CA and established Primecare Medical Group in 1992. He also founded PrimeRx, with 250,000 managed care patients, generating over $500 million in revenues a headquartered in Las Vegas, Nevada.