The story goes like this, Ranbaxy was once a dream company for every pharma and biotech graduate in India as it was one of the best payers according to Indian pharma industry standard, though the company was started in late 40's, it came into limelight in late 80's and early 90's. I think it was over all effort of Mr DS Brar (who later on became its CEO) and his team of managers who moved it to No 1 position in Indian generic market.
During Mr DS Brar era Ranbaxy entered the United States, the world's largest pharmaceuticals market and now the biggest market for Ranbaxy, accounting for 30% of Ranbaxy sales.
What I feel is that there were many issues which lead to downfall of Ranbaxy as a company first it was removal of Mr DS Brar who created wonders in the organization, than Litigation for Lipitor with big sharks like Pfizer and lastly throat to throat competition in between generic players which effected Ranbaxy’s sales in a major way, so the owners thought of diversifying in year 2002 or so and they then ventured into hospitals and diagnostic test market.
The news of Ranbaxy being acquired by Diachii in early part of 2008, not only surprised the employee's of the company but it shattered the ego of overall nation. As Ranbaxy was pride of India.
Day before yesterday the news was that Daichii has taken charge of Ranbaxy management completely and Malvinder Singh (Whose family gained $2 billion or so after the deal) stepped down from top post at Ranbaxy Laboratories.
In my opinion its a good article to tell us about the journey of Ranbaxy.. However, it does involve lots of emotions (Coz we indians cant see some company acquiring our company).. We should not forget that it was not a hostile bid by Daichi..It does involve the interests of Ranbaxy board members too.. they minted money out of it..
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