Dr. Reddy's Laboratories expands global presence with Jamaican subsidiary
Dr. Reddy's Laboratories has taken a significant step in its global expansion by establishing a wholly-owned subsidiary in Jamaica. Named “Dr. Reddy’s Laboratories Jamaica Limited”. The Jamaican subsidiary's primary focus will be on pharmaceutical operations, encompassing tasks such as importation, warehousing, distribution, and the export of pharmaceutical products.
Dr. Reddy's Laboratories SA, based in Switzerland and wholly-owned by the parent company, maintains full ownership of this new venture. The subsidiary begins with an authorized capital of $5,000,000, backed by an initial paid-up capital of $3,000,000.
In terms of regulatory compliance, the establishment of the subsidiary adheres to all necessary requirements, having received approvals from the Pharmacy Council of Jamaica. The subsidiary was officially incorporated on September 25, 2023.
