Is it true...? Has anyone else heard about it...? I have just been informed that the company is up for sale one more time. DS has eventually decided to wash their hands off this company, i have also learnt that accepting to FDA and DOJ sentences and paying the fines is part of the new deal.. The prospective buyer had this preconditioned this, that they need ranbaxy free of all guilt charges, with no litigations, and costss.. If someone else has heard this, pls confirm....... AG
If it was Promius (which I doubt cause they don't have the money) I hope they fire all the managers and run the company the way it should be run: by professionals.
There is news that Arun Sawhney and Rajiv Gulati have been shown the door.......... And there time to earn big bucks is over now.. A seasoned professional from west is taking over from him....And gulati has been shown the door for non performance, so that brings old work horse sanjeev dani into news and action once again... lets see how the company unfolds from here on....
PRESS RELEASE RANBAXY HIGHLIGHTS IMPROVED BUSINESS AND QUALITY ASSURANCE STANDARDS DEDICATED TO PROVIDING SAFE AND EFFICACIOUS MEDICINES GLOBALLY Gurgaon, India, May 22, 2013: Ranbaxy Laboratories Ltd. (RLL, NSE: RANBAXY, BSE: 500359) (“Ranbaxy”) today highlighted some of the major specific actions the Company has been taking in recent years to address certain conduct of the past and to ensure the safety and efficacy of all Ranbaxy products currently available in the global market. These actions include: · Enhancing its compliance procedures and policies · Upgrading its business and manufacturing processes · Building a culture of accountability and excellence across all levels of the organization · Complete reconstitution of the Board of Directors and Executive Management team Arun Sawhney, CEO & Managing Director, Ranbaxy, stated, “Ranbaxy is a different company today. The steps we have taken over the recent years reflect the wide-ranging efforts of the current board and management to address certain conduct of the past and ensure that Ranbaxy moves forward with integrity and professionalism in everything we do. We are fully committed to upholding the high standards that patients, prescribers and all other stakeholders expect.” Sawhney added, “All Ranbaxy products currently in the global market are safe and effective, and we remain focused on our philosophy of ‘Quality and Patients First.’ In the recent years we have made significant improvements in the way we conduct our business to ensure greater quality control and have made investments of over US$ 300 million in our manufacturing facilities to install state-of-the-art technologies. We have also instituted a rigorous new Code of Conduct for all Ranbaxy employees, with clear accountability for compliance.” Sawhney concluded, “Ranbaxy has successfully launched several new generic equivalents across the world recently, and maintains a robust pipeline of important new products as we look to build on our strong global portfolio of branded and generic prescription and OTC pharmaceuticals. We look forward to continuing to enrich lives globally with quality and affordable medicines.”
Is your source believable and how soon? Steroid division only or will they cut under performing Absorica territories too?
Insider here: the cuts will be primarily from Steroid team with some kept to blend into Absorica team.
Who's going to sell the steroids? Products sold or will the Absorica team have to sell both steroids and Absorica?
