Dr Reddy's Labs sets up subsidiary company in Jamaica

HYDERABAD: Dr Reddy’s Laboratories on Thursday informed the bourses that its wholly-owned subsidiary, Dr Reddy’s Laboratories SA, in Switzerland, has incorporated a wholly-owned subsidiary in Jamaica.
To be called Dr Reddy’s Laboratories Jamaica Ltd, the step-down subsidiary of Dr Reddy’s Laboratories, has been incorporated with an authorised capital of US$ 5,000,000 and a paid-up capital of US$ 3,000,000, it said.
The new company has been incorporated after receiving the necessary approvals from the Pharmacy Council of Jamaica and will be engaged in imports, warehousing, distribution and exports of pharmaceuticals.
“The certificate of incorporation dated September 25, 2023, from the Registrar of Companies, Jamaica, has been received by the company on September 27, 2023. Further, the step down wholly-owned subsidiary has been incorporated as a Limited company, in Jamaica,” Dr Reddy’s said.