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Ranbaxy Laboratories
Ranbaxy Laboratories Limited was an Indian multinational pharmaceutical company that was incorporated in India in 1961 and remained an entity until 2014. The company went public in 1973. Ownership of Ranbaxy changed twice over the course of its history.
In 2008, Japanese pharmaceutical company Daiichi Sankyo acquired a controlling share in Ranbaxy and in 2014, Sun Pharma acquired 100% of Ranbaxy in an all-stock deal. The Sun Pharma acquisition brought all new management to Ranbaxy, which had been laden with controversy . Sun is the world's fifth largest specialty generic pharmaceutical company.
Ranbaxy was started by Ranbir Singh and Gurbax Singh in 1937 as a distributor for Japanese company Shionogi. The name Ranbaxy blends the names of its founders: Ranbir and Gurbax. In 1952, Bhai Mohan Singh bought the company from his cousins, Ranbir and Gurbax. After Bhai Mohan Singh's son Parvinder Singh joined the company in 1967, the company saw an increase in scale.
In the late 1990s, Ranbaxy formed Ranbaxy Pharmaceuticals as its American affiliate to supply the United States' demand for cheaper generic drugs. Parvinder helped manage this expansion by partnering with American businesswoman Agnes Varis.
For the twelve months ending on 31 December 2005, the company's global sales were US$1,178 million, with overseas markets accounting for 75% of global sales (USA: 28%, Europe: 17%, Brazil, Russia, and China: 29%).[citation needed]
In December 2005, Ranbaxy's share price was hit by a patent ruling disallowing production of its own version of Pfizer's cholesterol-cutting drug Lipitor, which had annual sales of more than $10 billion.
In June 2008, Ranbaxy settled the patent dispute with Pfizer, allowing them to sell atorvastatin calcium, the generic version of Lipitor and atorvastatin calcium-amlodipine besylate, the generic version of Pfizer's Caduet, in the US, starting on 30 November 2011.[citation needed]
On 23 June 2006, the US Food & Drug Administration granted Ranbaxy a 180-day exclusivity period to sell simvastatin (Zocor) in the US as a generic drug at 80 mg strength. Ranbaxy competed with the maker of brand-name Zocor, Merck & Co.; IVAX Corporation (which was acquired by and merged into Teva Pharmaceuticals), which has 180-day exclusivity at strengths other than 80 mg; and Dr. Reddy's Laboratories and India, whose authorized generic version (licensed by Merck) is exempt from exclusivity.[citation needed]
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Ranbaxy Laboratories
Ranbaxy Laboratories Limited was an Indian multinational pharmaceutical company that was incorporated in India in 1961 and remained an entity until 2014. The company went public in 1973. Ownership of Ranbaxy changed twice over the course of its history.
In 2008, Japanese pharmaceutical company Daiichi Sankyo acquired a controlling share in Ranbaxy and in 2014, Sun Pharma acquired 100% of Ranbaxy in an all-stock deal. The Sun Pharma acquisition brought all new management to Ranbaxy, which had been laden with controversy . Sun is the world's fifth largest specialty generic pharmaceutical company.
Ranbaxy was started by Ranbir Singh and Gurbax Singh in 1937 as a distributor for Japanese company Shionogi. The name Ranbaxy blends the names of its founders: Ranbir and Gurbax. In 1952, Bhai Mohan Singh bought the company from his cousins, Ranbir and Gurbax. After Bhai Mohan Singh's son Parvinder Singh joined the company in 1967, the company saw an increase in scale.
In the late 1990s, Ranbaxy formed Ranbaxy Pharmaceuticals as its American affiliate to supply the United States' demand for cheaper generic drugs. Parvinder helped manage this expansion by partnering with American businesswoman Agnes Varis.
For the twelve months ending on 31 December 2005, the company's global sales were US$1,178 million, with overseas markets accounting for 75% of global sales (USA: 28%, Europe: 17%, Brazil, Russia, and China: 29%).[citation needed]
In December 2005, Ranbaxy's share price was hit by a patent ruling disallowing production of its own version of Pfizer's cholesterol-cutting drug Lipitor, which had annual sales of more than $10 billion.
In June 2008, Ranbaxy settled the patent dispute with Pfizer, allowing them to sell atorvastatin calcium, the generic version of Lipitor and atorvastatin calcium-amlodipine besylate, the generic version of Pfizer's Caduet, in the US, starting on 30 November 2011.[citation needed]
On 23 June 2006, the US Food & Drug Administration granted Ranbaxy a 180-day exclusivity period to sell simvastatin (Zocor) in the US as a generic drug at 80 mg strength. Ranbaxy competed with the maker of brand-name Zocor, Merck & Co.; IVAX Corporation (which was acquired by and merged into Teva Pharmaceuticals), which has 180-day exclusivity at strengths other than 80 mg; and Dr. Reddy's Laboratories and India, whose authorized generic version (licensed by Merck) is exempt from exclusivity.[citation needed]