Dr Reddy's scouting for partners in Japan

Drug maker Dr Reddy's Laboratories on Wednesday said it was looking out for partnerships to expand its presence in Japan.

The company, which was also recently speculated for a possible stake sale by the promoters denied any such move.

"Yes, we are looking at Japan and we are looking for partnerships," Dr Reddy's, Managing Director and COO Satish Reddy told reporters here on the sidelines of a CII function.

He said Japan is a good market and the company is looking for more presence in the generic drugs segment.

Currently the company has a small presence in Japan through its Active Pharmaceutical Ingredients business.

He, however did not elaborate on the mode of Partnership that the company is looking at.

On the market speculation about selling the company's stake, Reddy said, "We are own our own. We are doing fine and there is no such intention."

Recently, the Hyderabad-based Dr Reddys Laboratories was reported to be exploring the option of stake sale to multinationals.