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Journalism of Courage
Ranbaxy Labs is setting up two new subsidiaries in Canada and Portugal. With this, the company hopes to establish its presence in potential markets across the globe. Ranbaxy already has 42 subsidiaries globally.
At present, domestic revenues account for 18-19 per cent of Ranbaxy’s turnover. The idea is to bring this down to around 10 per cent over the next few years.‘‘Some of the overseas markets, including the US and Europe, are growing much much faster,’’ said Brian Tempest, Ranbaxy managing director and CEO.
Even Russia and Brazil are growing much faster than India, he said. It is not that the company has lost interest in India. ‘‘We want to be the number one company here,’’ Tempest assured. ‘‘In absolute terms, the Indian business will actually grow. We plan to build consumer healthcare business in India,’’ he added. Ranbaxy had announced plans to set up a subsidiary in Australia earlier this year. This will become operational in the next few weeks.
The company is in discussion with a few companies in Pakistan to start its operations in the $1 billion Pak market. Feasibility studies are on.
‘‘On a global basis, Ranbaxy’s network is everywhere. We will initially be entering the generic market in Canada and Portugal. After we attain maturity we enter the branded segment,’’ Tempest said.
