How M Satyanarayana Reddy has built MSN Labs from the scratch
Founder MSN Group is the ninth richest person in Hyd with a net worth of Rs9,800 cr
A scientist-turned-entrepreneur, Reddy founded MSN Laboratories in 2003 with a mission to make high-quality medicines affordable and accessible to the world. Today, MSN Group consists of five privately held companies. The organization presently has 16 state-of-the-art manufacturing facilities
Pharma tycoon M Satyanarayana Reddy, founder and chairman, MSN Group, is the ninth richest person of Hyderabad. As per Hurun Global Rich List 2021, with a net worth of Rs9,800 crore, M Satyanarayana Reddy and family (MSN Laboratories) are ranked at 143 in India and 2,530 globally.
A scientist-turned-entrepreneur, Reddy founded MSN Laboratories in 2003 with a mission to make high-quality medicines affordable and accessible to the world. Today, MSN Group consists of five privately held companies. The organization presently has 16 state-of-the-art manufacturing facilities (twelve API and four finished dosage facilities) established across India, Myanmar and the USA. In 2020, MSN started making a low-priced version of Covid-19 drug Favipiravir under the brand name Favilow.
In April 2021, MSN Labs has introduced Favipiravir (Favilow) 800 mg tabled for coronavirus. The medicine was approved by the Drug Controller General of India (DCGI). It is a high-potency drug that contributes to fighting the coronavirus. Before this medicine, in August 2020, they produced Favipiravir 200 mg and 400 mg, which were lower in strength.
In July 2021, the pharma player has also entered into a license agreement with the Defence Research & Development Organisation (DRDO) for manufacturing, distribution and marketing of Covid-19 drug 2-Deoxy-D-Glucose (2-DG) in India.
Reddy completed his senior secondary education in Hyderabad. He enrolled himself in the Osmania University, Hyderabad for his Doctor of Philosophy (Ph D) in organic chemistry. He started his career as a chemist and now runs his own business of drug manufacturing. He lives with his wife Prasuna in Hyderabad along with his daughter Sindhuja and son Achyuth.
Growth over the years
MSN Labs holds a track record of growing at an exponential pace since its inception. From $22 million in 2005 to achieving about $670 million turnover in FY2020-21 and counting, the company continues to clock growth and expand its global footprint.
MSN Laboratories Private Ltd's operating revenues were over Rs 500 crore for the financial year ending on March 31, 2020. It's EBITDA has increased by 66.26 per cent over the previous year. At the same time, its net worth has increased by 28.06 per cent.
The group has an integrated R&D centre that facilitates the research of both API and finished dosages under one roof, enabling the organization to introduce new and affordable therapies in global markets swiftly. Backed by a dedicated and experienced team of over 14,000 qualified professionals, the organization has earned a global distinction for its innovation, quality and speed of delivery.
The organizational environment at MSN Labs integrates multiple disciplines and functions by effective implementation of goals and objectives through technology coupled with integrity, imagination and innovation. The company's proactive marketing, robust IP strategy, innovative R&D expertise, dynamic SCM, insight-driven IT and world-class facilities remain at the heart of its continuing success.
In a message to stakeholder on company's website, Satyanarayana Reddy, says, "MSN Labs is constantly realigning and streamlining its business objectives and operations to meet the ever-changing requirements of global markets. As a dynamic organisation, I see many promising opportunities for MSN Group in the years ahead. And I am hopeful that we will continue to serve the world by bringing affordable medicines within everyone's reach."