Dr Reddys aims to triple reach to 1.5 billion patients by 2030

In their joint address to shareholders in the company's annual report for 2021-22, they said as the pharmaceutical landscape evolves, there would be intense competition in traditional generics, disruption brought in by new players and new business models, and demand for holistic healthcare solutions.

"This year we refreshed our sustainability and ESG goals for the next decade, while making them central to our purpose and integral to our strategy. Propelled by bold targets in affordability and innovation, we aim to triple our existing reach to touch the lives of over 1.5 billion patients by 2030," Reddy and Prasad wrote.

Under its sustainability goals for the next decade, Dr Reddy's said it is making its "products accessible and affordable for patients" and "25 percent of new launches to be first to market by 2027".

The company also said it will have three innovative products improving the standard of treatment every year.

On carbon emissions, according to the annual report, by 2030 the company will use 100 percent renewable power and it will also be carbon-neutral in direct emissions, while it is targetting 12.5 per cent reduction in indirect carbon emissions.

The company said it will be water-positive by 2025.

On gender diversity and inclusiveness, Dr Reddy's said there would be at least 35 percent women in senior leadership by 2030, which would be a three-fold increase from the current baseline.

Further, the company said there would be gender parity for the organisation by 2035 and "3 percent of our workforce to be with disabilities by 2030".

"We are also exploring new spaces such as digital healthcare services, clinically differentiated assets, biologics and cell and gene therapy, and disease management," they wrote.