Dr. Reddy's eyes biosimilars for emerging markets

India's Dr. Reddy's Laboratories ($RDY) is looking to increase sales of biosimilars in emerging markets and plans to launch products in Russia as well as licensing deals in Southeast Asia, its chief operating officer said on an earnings call, according to a Reuters report. The company said it generated $94 million in biosimilar sales from 2012 to 2015 and has "a renewed focus on emerging markets," COO Abhijit Mukherjee said in the report. Biosimilar products for the U.S. and Europe are "a few years away" he added, saying generic sales are still the key driver for profits. Mukherjee said regulators in emerging markets were becoming more open to accept applications for biosimilars and the company was targeting those markets, Reuters reported. India lags drug makers in Europe, the U.S. and South Korea in developing biosimilars and while the company plans to devote 15% of its R&D to biosimilars, Mukherjee said that "may not be meaningful" in the short term, Reuters reported. Report