These companies have been operating for more than a century and each of them have long established blockbuster drugs. The small Indian pharmaceutical company, often giving surprises to the Big Pharma, is Ranbaxy. The term generic refers to those drugs the patent on which has lapsed and they are no longer protected by a registered trademark. Any drug company is free to manufacture and market them.
The company ranks among the top ten global companies in the generic medicine business and has a presence in 23 of the top 25 pharmaceutical markets. It operates in 49 countries, has manufacturing facilities in 11, and employs 12, people. Ranbaxy was founded in Amritsar in by Ranjit Singh and Dr Gurbax singh, who distributed vitamins and anti-tuberculosis drugs for a Japanese pharmaceutical company.
After the Second World War, Ranbaxy continued as a distributor.
The company started in as a distributor for Japanese vitamins and anti-tuberculosis drugs. InLapetit assisted Ranbaxy to set up some limited local manufacture.
At the same time, it also expanded its product range by developing Calmpose, its own version of Valium. The Indian government introduced patent legislation in ; however, this only protected processes.
Competitors were free to imitate products as long as they used a different process. This created a disadvantage for MNCs compared to local imitators, and they were further discouraged by the introduction of price controls on drugs and later in by restrictions on the amount of equity they could hold in local companies.
This clearly provided a spur for the development of local pharmaceutical companies such as Ranbaxy, which established its bulk drugs facility at Mohali, Punjab, in and went public in Over subsequent years, it has continued to invest in its Indian manufacturing operations, which still form the core of its operations.
Fromthe company transformed from a local to an international company. InRanbaxy expanded it operations via a joint venture with Eli Lilly to manufacture Lilly products in India and market them throughout South Asia; inwhen it looked as if the US healthcare reforms would trigger an explosion in the generic drug market, Lilly also contracted Ranbaxy to make generics for it.
By the Indian economy was beginning to slow down and drugs exporters, facing competition by the Chinese, began to increase focus on generics, and in the same year Ranbaxy engaged in a spate of alliances and acquisitions to gain scale domestically.
Although Parvinder Singh died inthe company continued along the same course, but after its international activities seem to have accelerated slightly anticipating the acceleration of outward FDI from the country as a whole.
Although they did not start the company, the Singh family has been central to its success and owns most of the equity. Bhai Mohan Singh joined the company as a partner in when it was a distributor and led it through its early growth and subsequently into manufacturing.
His son, Parvinder Singh, joined the company in becoming managing director in and chairman in It was his vision to transform Ranbaxy into an international company based on research rather than simply carrying on with local low-cost manufacturing.
When he died suddenly the company was lead by non-family members, D. S Brar and then Brian Tempest, a European.Ranbaxy declined CBS News' request for an interview, but in a statement said: "Ranbaxy is committed to providing high quality affordable drugs to patients in the U.S." and "will take all measures.
Ranbaxy Laboratories History - Read about Ranbaxy Laboratories, History of Ranbaxy Laboratories on The Economic Times. Never miss a great news story! Get instant notifications from Economic Times for Lisinopril - Ranbaxy Lab got approval by WHO for its anti-AIDs drugs-T R Mulchandani retires from Directorship of Ranbaxy.-Ranbaxy.
The small Indian pharmaceutical company, often giving surprises to the Big Pharma, is Ranbaxy. This company’s ambitious owners have been grabbing the opportunity of introducing generic drugs on the expiry of patents held by the multinational companies.
May 03, · India's Ranbaxy won the right to make a generic version of the $11 billion drug -- only to be accused of seri ous fraud and shoddy practices in another case. Now a fight is erupting over the mega.
Department of Justice Action Against Ranbaxy DOJ News Release: Generic Drug Manufacturer Ranbaxy Pleads Guilty and Agrees to Pay $ Million to Resolve False Claims Allegations, CGMP Violations.
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