Ranbaxy is a true pioneer among Indian companies, in terms of globalization. The company's entry into global markets has been a proactive, well-planned effort. Ranbaxy's attempts to globalize received a major boost when Dr. Parvinder Singh took over as Chairman & MD in 1993. After the demise of Parvinder, DS Brar, the new CEO has given a fresh impetus to the globalization process.
Ranbaxy is India's largest pharmaceutical company. In 2001, Ranbaxy achieved sales of Rs. 2,055 cr and PAT of Rs. 253 cr. Ranbaxy is a true pioneer among Indian companies, when it comes to globalization. The company's entry into global markets has been a proactive, well-planned effort, unlike the opportunism which characterizes most of our computer software companies.
Ranbaxy's attempts to globalize received a major boost when Parvinder Singh took over as Chairman & MD in 1993, from his father, Bhai Mohan Singh. Parvinder decided to remain focused on the pharmaceuticals business. But he realized he had to find new markets. He was confident that Ranbaxy could use its core strengths to tap global markets. Parvinder articulated the company's mission of becoming a research-based international company. By the late 1990s, Ranbaxy had successfully penetrated several overseas markets, including Russia, China, US and several European countries. By 2000, Ranbaxy was generating almost 50% of its sales outside India.
After the unfortunate demise of Parvinder in 1999, the new Chairman & MD DS Brar has given new impetus to the globalization process. Ranbaxy is today among the top 10 generic drugs manufacturers in the world. Ranbaxy's sales are expected to be over $750 mn this year, and $1bn by 2004. Of that figure, 30% may come from the US. Ranbaxy expects the US to account for half of its sales by 2006-07.
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