Read the Conversation
Meeting highlights:
- Dual Strategy: Generics and Innovation: Dr. Reddy's is advancing both its Horizon 1 (generics and biosimilars) and Horizon 2 (innovative portfolio) strategies across Latin America. Camila emphasized the importance of combining cost-saving access with differentiated innovation to serve patients and strengthen healthcare systems.
- Resilience Amid Financial Instability: In response to Colombia's ongoing healthcare financing crisis, Dr. Reddy's is focusing on maintaining product access while prudently managing financial exposure. The company supports INVIMA's efforts to reduce regulatory backlogs and sees long-term potential in the market.
- Advancing Acceptance of Generics and Biosimilars: Over the past decade, Dr. Reddy's has helped improve perceptions of generics in Colombia through high-quality, ethical practices. While acceptance has grown, ongoing education and consistency are still needed due to frequent turnover in regulatory leadership.
- Innovation Beyond R&D: The company fosters innovation through AI-driven patient pathway optimization, streamlined cancer cohort management, and sustainable manufacturing practices, reflecting an agile, efficiency-focused operational model in Latin America.
- People-Centered Leadership and Culture: Camila highlighted her pride in building a strong, empowered team and company culture. She views resilience, gratitude, and purpose as essential traits for navigating uncertainty and driving meaningful, sustainable impact in healthcare.
EF: What are you excited about in this new role? What impact do you hope to have in the wider region?
CB: Dr. Reddy's is a company that enables you to embrace ambidextrous leadership. As we continue to grow, we are focused on expanding our innovative portfolio in Mexico, Colombia, and other Central American countries. This role enables us to apply our strategic and innovative skills in meaningful ways, helping to lay the foundations for our highly differentiated assets, which are currently under submission across the region.
At the same time, we remain committed to expanding access to our wider range of products, including generics and biosimilars, which address a significant unmet need in Latin America. Most countries in the region are facing the same challenge: limited access to resources. This is why Dr Reddy's has a two-pronged strategy. We are working towards our vision of making innovative assets more accessible because we truly believe that good health cannot wait.
In this context, both Horizon 1 and Horizon 2 play a vital role in helping us to achieve our vision and ambition. Both areas are equally exciting. It is important that we understand the dynamics and ecosystem in which we are working. Nevertheless, our goal remains the same: to treat more patients every day and promote innovation across therapeutic areas. We believe we can make a real impact in supporting the sustainability of healthcare systems in these areas.
EF: How does Dr. Reddy see 2025? What are the priorities on your agenda?
CL: It's a complex year. There is a financing shortfall across various stakeholders, including outstanding debts and challenges with current payments, which make it difficult to meet patient needs. The financial pressure isn't going away; it's a reality of how things are currently working, and we have to face it head-on. That's why we're being smart and careful in how we move forward. We remain fully committed to providing people with high-quality, reliable products here, but we also need to monitor how the financial situation impacts the company. That has led to more frequent discussions with our finance teams and stakeholders as we work to rebuild agreements and determine how to continue supplying patients while addressing serious financial constraints.
We're starting to see some changes emerging from INVIMA's contingency plan. They've taken steps that demonstrate a different way of thinking, one that aims to accelerate processes through lean approaches and more structured planning. It's early, but those first moves are encouraging, and we see them as a step in the right direction. When introducing generics and biosimilars into the system, the first major hurdle is always obtaining registration approval. Without that, nothing moves. Any progress is meaningful, and we hope it continues. If those actions continue, we anticipate fewer delays. Ideally, as this government's term comes to a close, we'll see more stability in the flow of resources from all stakeholders, enough to give the system some breathing room.
Past-due debts are a major issue, but unfortunately, much of it is tied up in legal processes. Some EPS interventions are still ongoing, and they'll take time to resolve. There are no quick fixes. From Dr. Reddy's side, we're here to stay because we believe in our purpose. We entered Colombia and the region with a clear intention: to make a meaningful contribution to the healthcare system. We also developed a long-term agenda. That means staying resilient, remaining thoughtful in our operations, and doing our best to deliver value this year despite the challenges.
EF: Do you think Colombia recognizes the value and importance of generics in the system?
CL: Dr. Reddy's has played a pivotal role in reshaping the perception of generics. 10 years ago, when we began operations in Colombia, there was considerable misunderstanding and skepticism surrounding generics. But through consistent performance, high-quality standards, and a strong ethical approach to business, we've helped change that narrative. Our efforts have helped pave the way for broader industry acceptance. Today, generics are part of the conversation for every doctor and healthcare decision-maker in Colombia and the region. We've demonstrated not only that these products are safe and effective but also that they offer value beyond the medicine itself through the work we've done over the years.
Expectations have also grown. Now, it's not only about proving safety and efficacy. What matters is how patients experience the treatment. That's what people are paying attention to. At the same time, there is still the expectation that generics offer sufficient value. As a result, we're seeing healthcare systems become more willing to consider both biosimilars and generics as part of their options. Of course, there's still room to grow, especially in how we educate people about the path to adopting these products, as well as how biosimilars and generics are evaluated, approved, and introduced. One challenge is the frequent turnover of decision-makers within the healthcare system and regulatory bodies. That constant change can slow down learning and adoption, making it harder to stabilize progress. But these products are here to stay. They're becoming part of the patient care toolbox, and they matter to both patients and decision-makers. Our job now is to keep strengthening our contribution to these systems and supporting their growth.
EF: How do you identify opportunities to bring parts of the global portfolio regionally to Latin America?
CL: This is an ongoing effort that we take very seriously. We have a strong portfolio team at our head office, as well as in the regions. We assess whether we have the capabilities to develop complex, generic products, which is one of our key strengths, and also whether we can build the right global partnerships to bring those specialized products to our customers. It's really about matching what the region needs. Colombia, in particular, has a strong position in terms of market size and therapeutic areas. Our goal is to act as a bridge across Latin America, enabling us to enter new therapeutic spaces. Dr. Reddy's already has a broad portfolio in India and other parts of the world. We've recognized a clear trend: healthcare systems are under real pressure to stay sufficient. That's why we're actively exploring new areas and building additional levers that can genuinely support the diverse ecosystems we work with.
EF: Could you tell us about your approach to innovation and how Dr Reddy's is innovating beyond the product portfolio?
CL: Innovation is at the heart of what we do at Dr. Reddy's. One clear example of it is our facility in Hyderabad, which has been listed in the exclusive group of The Global Lighthouse Network, which comprises 189 Lighthouses by the WEF. As subsidiaries, innovation plays a role in supporting healthcare ecosystems and end-to-end patient management experience. For example, we've worked with AI to help manage cohorts more effectively. Together with some EPS providers and external experts, we've been able to streamline patient assessments, improve the experience, optimize cost models, and support cancer care pathways here in Colombia. We've partnered with key players in the local oncology space to make this happen.
Alongside that, we've developed algorithms that help identify patients with myelodysplastic syndromes more accurately. This has even helped reduce unnecessary referrals to hematologists in cases where the diagnosis isn't malignant. Across all our efforts, we apply design thinking. We ask: how can we solve this in a smarter, leaner way? Given the size of our operation, efficiency is crucial. We need to be agile. We must make the most of what we have without overextending our resources.
One of the biggest lessons from the tough years we've been through is that it's possible to be more productive and more profitable even with less. It's pushed us to rethink how we work, how we reach our goals, and how we continue to serve our purpose. In many ways, the crisis has compelled us to reassess and reevaluate everything. And when you have an innovative mindset, you're better prepared to handle that. You start to see new ways of doing things, and often, those ways bring even better results.
EF: In this bigger role, how are you balancing all of the priorities?
CL: One of the most important things for taking on new assignments well is building strong leaders around you. That's something I'm proud of, and it's key to any leader's success in helping others grow while also growing oneself as one steps into new roles. The balance depends a lot on the different kinds of people you're working with. Some individuals require close support and guidance, while others can be allowed to take their own path and check back in when needed. It's similar to starting a new role yourself. You have to dig deep at the beginning, really understand what's going on, make the right diagnoses, and take the actions needed for the future. When you've capable people around you, you can focus more on the details and maintain that balance, allowing you to handle all the responsibilities you've taken on. Having the right team around you is essential.
EF: What are you most excited about right now at Dr Reddy's?
CL: I enjoy working closely with my team, sharing the whole journey with them, celebrating our successes, facing challenges together, and watching them grow as individuals. Seeing them learn, achieve their personal goals, and grow as individuals means a great deal to me. Beyond that, we have a deeper connection and the feeling that what we're doing truly matters. We're bringing solutions to patients in need and maximizing the use of limited resources to support their treatment journey. Even if you don't see the impact directly all the time, you know what you're doing is worth it. That sense of purpose has always been with me. It's what keeps me energized every day, and it's what truly drives me.
EF: As you celebrate five years at Dr Reddy's and make your speech, what achievement are you most proud of in these five years, and what legacy are you building?
CL: These past five years have flown by quickly because things have moved so fast. But when you take a moment to look back, you see the real value in what we've built together. I inherited the legacy from the entrepreneurs who first started Dr Reddy's in Colombia. I was brought in to help make the company more process-oriented, streamline operations, and prepare for the growth we expected and still expect.
One of the key foundations we've focused on is culture. My HR head and I have worked closely on this because we believe culture shapes everything. We're proud to say that we're truly living the Dr Reddy's we're building together. The engagement, positive attitudes, and active participation across teams show that this company feels like it belongs to all of us. It's part of our DNA.
That commitment has also been recognized. We've been named a great place to work four years in a row, with our scores improving every year. That tells us people matter here, and that's something we keep at the center of what we do. Ultimately, creating a great, safe place to work is how we serve not only our team but also the wider community, giving everyone a space to come in every day and bring their best.
EF: As a message to the other executives in the sector, how do you think we can keep a positive mindset through challenging moments?
CL: I'm surrounded by strong, influential leaders here in Colombia. To me, resilience means starting with gratitude. We're fortunate to be building something that works, something that transcends healthcare systems and politics. Holding on to that purpose gives us the strength to stay steady through uncertainty, to find new ways of working, and to prepare for whatever comes next. That purpose fuels us to keep constant through uncertainty, to explore new ways of doing business, and to face whatever lies ahead. The market will bring new opportunities, but the key now is to prepare and be ready for them. That's exactly where we are trying to understand the changing dynamics, adapt our approach, and find ways to support the healthcare system as it evolves.
