Delhi based Ranbaxy Laboratories Limited, the country's largest pharmaceutical company, is fast positioning itself as a research-based international pharmaceutical company. It is amongst the top 100 pharmaceutical companies of the world and has been rated the 9th largest generic company worldwide.
The company is serving the pharmaceutical needs of diverse markets around the globe comprising of developing, emerging and advanced countries. With over 8000-strong multi-cultural work force, it is able to manufacture and export drugs to over 70 countries.
In the recent past, the company had announced a 10-year vision strategy, for attaining significant growth consistent with its aims and ambitions. The vision GARUDA (Galvanise Aspirations for Ranbaxy's Unceasing Growth in the Decade Ahead by Harnessing the power of One) has given increasing emphasis on Novel Drug Delivery Systems Research (NDDS) and Drug Discovery Research (DDR).
In-licensing and out-licensing, relationships with other important pharmaceutical entities, expansion of manufacturing facilities both in India and at strategic overseas locations, revamping of organizational structures to cater to the wider and more dispersed span of operations, and streamlining and standardizing business processes throughout the global organization, are other areas that will receive focus and attention of the management on priority.
True to its long-term plans, the performance of the company during the first half of the current year also showed strong orientation towards NDDR and NDDS.
During the period, Ranbaxy has initiated discovery research programmes for compounds useful for treating inflammatory and metabolic disorders. After successful completion of single and multiple dose phase I studies in India for the respiratory segment compound RBx 7796, proof of concept studies have been initiated in the UK and Canada. Two compounds for urology disorders, RBx 9001 (BPH) and RBx 9841 (urinary incontinence) have entered the pre-clinical development stage.
During the quarter, the company entered into an agreement with "Medicines for Malaria Venture" (MMV), Geneva, for the development of an Anti - Malarial drug, for which it would have the worldwide rights for registration and commercialization.
In the area of NDDS, the New Drug Application and ANDA programmes made further progress. In Q2, the company creceived its 'share of revenue' for ciprofloxacin Once Daily product launched by Bayer AG in January '03 for the quarter ended March 31, 2003. During the quarter, Ranbaxy received 5 ANDA approvals from the US FDA taking the cumulative number of approvals to 68.
During the quarter ended on June 30, 2003(Q2), Ranbaxy's US operations generated sales of USD 101 million, constituting 42% of the global sales. This represents a growth of 37% over the corresponding quarter last year. The company garnered a 10% prescription share of the molecules marketed by it in the US, reflecting the increased market share of its major products.
During the quarter, amongst other ANDA approvals that the company received, were Isotretinoin Capsules 30 mg, representing a new dosage strength for the product and Ganciclovir Capsules 250mg & 500 mg, in which the company has a six months marketing exclusivity.
The growth accelerated in the European markets, with sales of USD 55 million for the half year ended June 30, 2003, an increase of 73%.This was driven primarily by UK with a growth of 88% at USD 24 million and Germany with a growth of 86% at USD 6 million. Other markets in Northern, Southern and Central Europe performed impressively, boosting the region's contribution to 12% of global sales as against 9% in the corresponding period last year.
In the domestic market, Ranbaxy recorded a growth of 5.2% against the industry growth of 4.2% during the quarter. The anti-infectives segment, which experienced negative growth in the past three consecutive quarters, grew by 2.5%. During first half of the year, the company launched 20 new products, mainly in the chronic therapy segment. In the quarter, the company launched 7 new products in the therapeutic areas of diabetes, CNS, dermatology and super specialty.
In the words of DS Brar, CEO & Managing Director, Ranbaxy, ``There is a renewed sense of excitement and pride across Ranbaxy, as we reflect upon the year gone by. We are within striking distance of the Billion-dollar Vision we had set for ourselves for 2004."
``We believe that in the coming decade, we will be a speciality pharmaceutical company that will see a stronger presence in the advanced markets. Proprietary products will give impetus to future growth, while generics would keep the rhythm. Even as we savour the performance of another successful year, excitement and anticipation punctuate our preparation for the future - identifying new competencies we need to build, and gaps we need to bridge, to ensure another winning score. "