Ranbaxy Ethics

In: Business and Management

Submitted By nitin1991
Words 1274
Pages 6
RANBAXY LABORATORIES LIMITED

Introduction

Ranbaxy was founded in Amritsar in 1937 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. After some time his cousin brother Mohan Singh bought the company from his cousins Ranjit Singh and Gurbax Singh. Ranbaxy's name is a fusion of Ranjit and Gurbax's names. Ranbaxy Laboratories Limited, headquartered in India, 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. It is ranked amongst the top ten generic companies world wide. The Company serves its customers in over 125 countries and has an expanding international portfolio of affiliates, joint ventures and alliances, ground operations in 49 countries and manufacturing operations in 8 countries. In 2011, Ranbaxy Global Consumer Health Care received the OTC Company of the year award.
The Indian government introduced patent legislation in 1970. 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 1973) 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 1971 and went public in 1973.

Over subsequent years, it has continued to invest in its Indian manufacturing operations, which still form the core of its operations. Initially the company concentrated on the local…...

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