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Dr Reddy''s Laboratories is an important Indian pharmaceutical company, and is undertaking several corporate initiatives in order to prepare for the changed competition regime that will inevitably place greater emphasis on intellectual property generation than has been historically true in the Indian context. This case is useful for discussion of the problems and processes of transitioning between business models, and the challenges of supporting different business models under a common corporate umbrella, while leveraging synergies across them. The teaching note was written by P Puranam.