Dr. Reddy's Laboratories Ltd. 8-2-337, Road No. 3, Banjara Hills, Hyderabad - 500 034, Telangana, India. CIN : L85195TG1984PLC004507 Tel : +91 40 4900 2900 Fax : +91 40 4900 2999 Email : mail@drreddys.com www.drreddys.co

Stock Exchange of India Ltd. (Scrip Code: DRREDDY-EQ)

Limited (Scrip Code: 500124)

find enclosed a press release titled "Dr. Reddy's successfully completes Phase I study (IV route) of DRL_TC, a proposed

biosimilar of tocilizumabp."

is for your information.

Dr. Reddy's Laboratories Limited

New York Stock Exchange Inc.(Stock Code :RDY)

Reddy's successfully completes Phase I study (IV route) of

DRL_TC, a proposed biosimilar of tocilizumab

India; June 05, 2023 - Dr. Reddy's Laboratories Ltd. (BSE: 500124, NSE: DRREDDY, NYSE: RDY, NSEIFSC: DRREDDY; hereafter

referred to as "Dr. Reddy's"), a global pharmaceutical company, announced that its tocilizumab biosimilar candidate,

DRL_TC, successfully met its primary and secondary endpoints in a Phase I study. This Phase I study used an intravenous (IV) formulation

to evaluate the pharmacokinetic equivalence, safety and immunogenicity of Dr. Reddy's tocilizumab biosimilar candidate in comparison

to reference products.

Phase I study entitled A Phase I, Double Blind, Randomized, Parallel-group, Single dose, Three arm, Comparative Pharmacokinetic

and Pharmacodynamic Study of Dr. Reddy's Tocilizumab (DRL_TC), USA sourced Reference Tocilizumab (Actemra ) and EU sourced

Reference Tocilizumab (RoActemra ) Administered by the Intravenous Route to Normal Healthy Male Volunteers' met all primary

and secondary endpoints. Pharmacokinetic equivalence of DRL_TC to the EU reference medicinal product* and the U.S. reference product**

was successfully demonstrated. The clinical trial also confirmed the similarity between DRL_TC and the EU* and U.S.** reference products

in terms of pharmacodynamic parameters and found no noteworthy differences in safety and immunogenicity across these three treatment

successful outcome of this study represents an important milestone in Dr. Reddy's commitment to make high-quality biosimilar products

more accessible and affordable to healthcare providers and patients around the world. Dr. Reddy's is developing the proposed tocilizumab

biosimilar as both intravenous and subcutaneous formulations.

Jayanth Sridhar, Global Head of Biologics at Dr. Reddy's, said: "Tocilizumab is an important anti-rheumatic agent that

has a unique place in treating patients with rheumatoid arthritis and other diseases. By developing the formulation in both subcutaneous

and intravenous formulations, we aim to reach more patients around the world. With our recent milestones in our proposed biosimilars

of tocilizumab and rituximab, our partner's launch of pegfilgrastim in the U.S and Europe, we look forward to maintaining our momentum

as part of our goal to serve over 1.5 billion patients by 2030."

Reddy's has already demonstrated pharmacokinetic equivalence and similarity in pharmacodynamic parameters, safety and immunogenicity

by subcutaneous route. The company is now initiating a global Phase III study with the aim of comparing the efficacy, safety, tolerability

and immunogenicity of DRL_TC with the reference product in patients with moderate to severe active rheumatoid arthritis.

reference medicinal product is RoActemra

reference product is Actemra

and RoActemra are registered trademarks of Chugai Seiyaku Kabushiki Kaisha Corp., a member of the Roche Group.

Dr. Reddy's biosimilars programme:

Reddy's biosimilars business is part of our key strategic initiatives expected to drive both near-term and long-term growth. Over

the last 20 years, our Biologics team has developed into a fully integrated organisation with robust capabilities in the development,

manufacture and commercialisation of a range of biosimilar products in oncology and immunology. We have a current portfolio of six commercial

products marketed in India and over 27 Emerging Markets. In addition, we have several products in the pipeline in oncology and auto-immune

diseases in various stages of development for global launches across regulated as well as emerging markets. In December 2022, we announced

the successful completion of Phase I study and initiation of Phase III study of DRL_TC, our proposed biosimilar of tocilizumab via the

subcutaneous route, for global markets. In January 2023, we announced the successful completion of the full set of clinical studies of

our rituximab biosimilar for filing in the U.S. and Europe. We are also ramping up manufacturing capacity to support our global expansion

Dr. Reddy's: Dr. Reddy's Laboratories Ltd. (BSE: 500124, NSE: DRREDDY, NYSE: RDY, NSEIFSC: DRREDDY) is a global pharmaceutical

company headquartered in Hyderabad, India. Established in 1984, we are committed to providing access to affordable and innovative medicines.

Driven by our purpose of Good Health Can't Wait', we offer a portfolio of products and services including APIs, generics,

branded generics, biosimilars and OTC. Our major therapeutic areas of focus are gastrointestinal, cardiovascular, diabetology, oncology,

pain management and dermatology. Our major markets include - USA, India, Russia & CIS countries, China, Brazil and Europe.

As a company with a history of deep science that has led to several industry firsts, we continue to plan ahead and invest in businesses

of the future. As an early adopter of sustainability and ESG actions, we released our first Sustainability Report in 2004. Our current

ESG goals aim to set the bar high in environmental stewardship; access and affordability for patients; diversity; and governance. For

more information, log on to: www.drreddys.com.

This press release may include statements of future expectations and other forward-looking statements that are based on the management's

current views and assumptions and involve known or unknown risks and uncertainties that could cause actual results, performance or events

to differ materially from those expressed or implied in such statements. In addition to statements which are forward-looking by reason

of context, the words "may", "will", "should", "expects", "plans", "intends",

"anticipates", "believes", "estimates", "predicts", "potential", or "continue"

and similar expressions identify forward-looking statements. Actual results, performance or events may differ materially from those in

such statements due to without limitation, (i) general economic conditions such as performance of financial markets, credit defaults

, currency exchange rates, interest rates, persistency levels and frequency / severity of insured loss events, (ii) mortality and morbidity

levels and trends, (iii) changing levels of competition and general competitive factors, (iv) changes in laws and regulations and in

the policies of central banks and/or governments, (v) the impact of acquisitions or reorganization, including related integration issues,

and (vi) the susceptibility of our industry and the markets addressed by our, and our customers', products and services to economic

downturns as a result of natural disasters, epidemics, pandemics or other widespread illness, including coronavirus (or COVID-19), and

(vii) other risks and uncertainties identified in our public filings with the Securities and Exchange Commission, including those listed

under the "Risk Factors" and "Forward-Looking Statements" sections of our Annual Report on Form 20-F for the year

ended March 31, 2022. The company assumes no obligation to update any information contained herein.