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Dr Reddy's names head of American generic business

NEW YORK (AP) -- Dr. Reddy's Laboratories Ltd. said Tuesday that Chief Financial Officer Umang Vohra will become head of its North American generic drug business, a fast-growing division for the Indian drug maker.

Vohra will start in the role, a new position, in January, with another Dr. Reddy's executive taking his place as CFO.

In its most recent quarter the company reported about $176 million in revenue from sales of generic drugs in North America. That was about a third of its total revenue and almost half the revenue from its generic drug division.

Saumen Chakraborty, who was Dr. Reddy's CFO from 2006 to 2008, will replace Vohra as chief financial officer. He is currently in charge of quality, human resources, information technology, and business process.

Shares added 60 cents, or 1.9 percent, to $32.60 in late morning trading Tuesday.