Company Profile
Ranbaxy Laboratories Limited (Ranbaxy), India's largest pharmaceutical company, is an integrated, research based, international pharmaceutical company, producing a wide range of quality, affordable generic medicines, trusted by healthcare professionals and patients across geographies. Ranbaxy today has a presence in 23 of the top 25 pharmaceutical markets of the world. The Company has a global footprint in 46 countries, world-class manufacturing facilities in 7 countries and serves customers in over 125 countries.
In June 2008, Ranbaxy entered into an alliance with one of the largest Japanese innovator companies, Daiichi Sankyo Company Ltd., to create an innovator and generic pharmaceutical powerhouse. The combined entity now ranks among the top 20 pharmaceutical companies, globally. The transformational deal will place Ranbaxy in a higher growth trajectory and it will emerge stronger in terms of its global reach and in its capabilities in drug development and manufacturing.
The Name: Ranbaxy
The name Ranbaxy is a combination of the names of its first owners Ranbir and Gurbax.
From Formation to Till Date
Ranbaxy was started by Ranbir Singh and Gurbax Singh in 1937 as a distributor for a Japanese company Shionogi. Bhai Mohan Singh bought the company in 1952 from his cousins Ranbir and Gurbax. After Bhai Mohan Singh's son Parvinder Singh joined the company in 1967, the company saw a significant transformation in its business and scale. Ranbaxy went public in 1973. Ranbaxy's first joint venture was set up in Lagos (Nigeria) in 1977. In 1985, Ranbaxy Research Foundation was established and Stancare, Ranbaxy's second pharmaceutical market division started functioning. In 1987, production started at Ranbaxy's Toansa Plant (Punjab) and with this Ranbaxy became India's largest manufacturer of antibiotics/antibacterials. In 1988, Ranbaxy's Toansa Plant got US FDA approval. In 1990, Ranbaxy was granted its first US patent, for Doxycyline. In 1993, Ranbaxy set up a joint venture in China. In 1994, Ranbaxy established regional headquarters in UK and USA. In the same year its GDR was listed in Luxembourgh Stock Exchange. In 1995, Ranbaxy acquired Ohm Laboratories, a manufacturing facility in the US and inaugurated state-of-the art new manufacturing wing at Ranbaxy's US subsidiary Ohm Laboratories Inc. In 1997, Ranbaxy crossed a sales turnover of Rs. 10,000 million.
In 1998, Ranbaxy entered USA, world's largest pharmaceutical market; with products under its own name and now US is the biggest market for Ranbaxy, accounting for 28% of Ranbaxy's sales in 2005. In the same year, Ranbaxy filed its first Investigational New Drug (IND) application with the Drugs Controller General OF India for approvals to conduct Phase 1 Clinical trials. In 1999, Ranbaxy commenced trials for its NCE. In 2000, Ranbaxy acquired Bayer's Generic business in Germany, and entered into Brazil, the largest pharmaceutical market in South America. In 2001, Ranbaxy set up a manufacturing facility in Vietnam. In 2003, Ranbaxy launched Cefuroxime Axetil after approval from USFDA. It was the first approval granted to any generic company for this product. In 2003, Ranbaxy and Glaxo SmithKline Plc entered into an alliance for drug discovery and development. In 2004, Ranbaxy acquired a wholly-owned subsidiary RPG (Aventis) SA and began operations in France as a Top 10 generic company. In 2005, Ranbaxy launched operations in Canada and acquired generic product portfolio from EFARMES of Spain. In 2006, Ranbaxy acquired Be Tabs pharmaceuticals of South Africa, unbranded generic business of GSK in Italy & Spain, and Terapia of Romania. His sons Malvinder Mohan Singh and Shivinder Mohan Singh sold the company to the Japanese company Daiichi Sankyo in June 2008.
Legal Issues
In December 2005, Ranbaxy's shares were hit hard by a patent ruling disallowing production of its own version of Pfizer's cholesterol-cutting drug Lipitor, which has annual sales of more than $10 billion. In June 2008, Ranbaxy settled the patent dispute with Pfizer allowing them to sell Atorvastatin Calcium, the generic version of Lipitor(R)and Atorvastatin Calcium-Amylodipine Besylate, the generic version of Pfizer's Caduet(R) in the US starting November 30, 2011.
On 23 June 2006, Ranbaxy received from the United States Food & Drug Administration a 180-day exclusivity period to sell simvastatin (Zocor) in the U.S. as a generic drug at 80 mg strength. Ranbaxy presently competes with the maker of brand-name Zocor, Merck & Co.
On 10 June 2008, Japan's Daiichi Sankyo Co. agreed to take a majority (50.1%) stake in Ranbaxy, with a deal valued at about $4.6 billion. Ranbaxy's Malvinder Singh will remain CEO after the transaction. Malvinder Singh also said that this was a strategical deal and not a sell out.
On 16 September 2008, the Food and Drug Administration issued two Warning Letters to Ranbaxy Laboratories Ltd. and an Import Alert for generic drugs produced by two manufacturing plants in India.
On February 25, 2009 the U.S. Food and Drug Administration said it has halted reviews of all drug applications including data developed at Ranbaxy's Paonta Sahib plant in India because of a practice of falsified data and test results in approved and pending drug applications. "Investigations revealed a pattern of questionable data," the FDA said.
Top 10 Molecules (2010)
- Valacyclovir
- Simvastatin
- Donepezil
- Atorvastatin & Combinations
- Co-amoxyclav & Combinations
- Ciprofloxacin & Combinations
- Ketorolac Tromethamine
- Imipenem+Cilastatin
- Ginseng+Vitamins
- Loratadine & Combinations
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Among India's largest pharmaceutical companies
· Global presence in 46 countries, products sold in over 125 countries.
· Global consolidated sales: USD 1868 Million (2010)
· Highest R&D spender amongst Indian Pharmaceutical Companies.
· Around 14000 employees globally represented by 50 nationalities.
Webpage
www.ranbaxy.com
Source
Ranbaxy, Wikipedia
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