Dr.Reddy's refutes Pravda.Ru's statements

Pravda.Ru has gotten a hold of an official letter written by the head of Dr. Reddy's laboratories in Russia MV Ramana. The following is the actual text of the letter: 

“We would like to draw your attention to two stories published in your news websites http://pravda.ru and english.http://pravda.ru. One news story titled “Criminal case filed in the Moscow region against the leader of the Indian pharmaceutical industry” was published on November 17th, 2004 and another story titled “Mafia dominates Russian pharmaceutical industry” was published on November 29th, 2004.

“The news stories claim that the Office of the Public Prosecutor of the Moscow region has instituted criminal proceedings against Dr. Reddy's Laboratories. We would like to clarify that no criminal proceedings have been instituted against Dr. Reddy's nor has any case been filed against the company.

“The news stories also claim that Dr. Reddy's did not complete the investment program for the privatization of OJSC Biomed. This statement is untrue and without basis.

“Dr. Reddy's participated in the competition conducted by the Property Fund of the Moscow region for privatization of Biomed. As per its commitment to the Property Fund, Dr. Reddy’s has completed all the obligations of the investment program. The Property Fund of Moscow Region has confirmed the completion of the investment program vide its letter dated the 30th of March 2001 to the general director of OJSC Biomed.”

Pravda.ru is currently in the middle of putting together a new article concerning the turmoil around OJSC Biomed; we are planning to present the views of all parties involved.