Until last fortnight, things were going the way india’s largest drugmaker Ranbaxy Laboratories and its boss Malvinder Singh had planned. In a bid to make Ranbaxy a research-based global pharma giant, Singh had spun off the new drug discovery unit (Ranbaxy Life Science Research) into a subsidiary.
Earlier in March, the company received the US Food and Drug Administration nod to sell the generic version of Risperdal (used in the treatment of schizophrenia) in the US. It also entered into an agreement with CD Pharma India—the Asian affiliate of US-based VSL Pharmaceuticals Inc.—to market its drug Inersan, used for the treatment of dental problems, in India and Nepal.
The drug major finds itself in troubled waters in the US, too, where the market size for Lipitor is estimated to be $8.5 billion (Rs 34,000 crore).
|Name: Malvinder M. Singh|
Designation: MD & CEO
Company: Ranbaxy Laboratories
Closer home, Singh is already fighting a losing battle with the country’s drug price regulator— National Pharmaceutical Pricing Authority (NPPA)—over the price of Ranbaxy’s key antibiotic brand Roscillin. But then, these are at best temporary setbacks for the man whose long-term goal is to make Ranbaxy a global pharmaceutical powerhouse.
— Pallavi Srivastava