Dr. Reddy's Laboratories Limited inform that the Board of Directors of the Company at its meeting held on April 25, 2024, Mr. Marc Kikuchi has resigned from the role of CEO of North America Generics. He will cease
to be a member of the Management Council and Senior Management Personnel of the Company, effective from the close of working hours on May 24, 2024. The resignation letter received from Mr. Marc Kikuchi is annexed herewith; and Mr. Milan Kalawadia, currently Chief Commercial Officer- North America Generics is elevated to the role of CEO - North America and is also inducted as a Member of the Management Council and Senior Management Personnel of the Company, effective from May 25, 2024. Milan has been an integral part of Dr. Reddy's for more than 18 years, contributing his expertise and strategic insight to various aspects of operations. This included the three main verticals of the core North America business: Retail Rx, Hospital/Institution, and Private Label OTC divisions. Milan also led the early efforts to develop the strategies for the Biosimilars and the Self-care/Wellness business units in the US. During the last three years, Milan's efforts as Chief Commercial Office were instrumental in driving North America to three consecutive years of growth over the $1 billion revenue threshold. During his impressive tenure at Dr. Reddy's, Milan has held various positions of increasing responsibility beginning in 2006. These roles have been in Finance, Investor Relations, Corporate/Business Development, Marketing, and Head of OTC and SRx divisions. There are many highlights to Milan's career. In 2010, Milan was instrumental in the restructuring of the OTC division, driving its initial growth through key launches and product acquisitions, most notably the
Habitrol® Nicotine Replacement Therapy patch in 2014. In addition, he continued to drive growth within the SRx division with the establishment of the IDN Sales team in 2018 which focused on maximizing the
value of our late-to-market launches. In 2020, Milan focused his efforts on reinvigorating the Product Management process to ensure efficient management of its ever-expanding 250+ product portfolio and
driving growth by strengthening our strategic partnerships with key customers. More recently, Milan played a critical role in driving various new growth initiatives including the acquisition of OTC brands;
the development of our e-commerce presence on Amazon; and engaging with alternate channel partners. Milan holds a Bachelor of Science degree in Management Science and Information Systems from Rutgers
University, School of Business; and an MBA from Carnegie Mellon University, Tepper School of Business.