Sunday, 5 May 2013
Project Report on Ranbaxy Laboratories -OTC Healthcare -India
· Incorporated in 1961, Ranbaxy Laboratories Ltd initially manufactured formulations before moving into bulk drugs in 1962. In 1984, the company began bulk drug exports to developed countries and also entered the animal health business.
· The company has a strong focus on joint ventures, including a notable agreement with Germany’s Bayer AG to develop one-a-day Ciprofloxacin.
· Ranbaxy Laboratories Ltd operates in India through its seven strategic business units: Pharma, Croslands, Rexcel, Solus, Blue R, Ranbaxy CV and Super Speciality. The company has a strong distribution network across India. It is strong in anti-infective, dermatological and gastrointestinal tract medication, NSAIDs, CNS orthopaedics and cardiovascular drugs.
· Ranbaxy Laboratories Ltd has a presence in both prescription and OTC healthcare. While prescription medicines are marketed by the seven marketing divisions of Ranbaxy, sales of OTC healthcare are carried out by its Global Consumer Healthcare Division.
· In July 2008, Daiichi Sankyo, Japan’s leading pharmaceutical company acquired a majority stake of 50.1% in Ranbaxy Laboratories Ltd, for US$4.6 billion. However, there will be no change in corporate identity and the company will retain the same name in India.
· Ranbaxy Laboratories Ltd has seven plants in India. These are located in North and West India, at Mohali and Nawansahar (Punjab), Sirmour (Himachal Pradesh), Okhla (Delhi), Dewas (Madhya Pradesh), Pune (Maharashtra) and Ponda (Goa).
· Ranbaxy Laboratories Ltd is one of the largest Indian companies in terms of exports. Exports are close to double the level of domestic sales for Ranbaxy. Ranbaxy exports its products to over 100 countries and has ground operations in 34 countries, with legal entities in another 20 countries. The export destinations of Ranbaxy include the US, the UK, Japan, China, Thailand, the Caribbean Islands, Africa and the Middle East.
· Apart from India, the company has manufacturing facilities in Ireland, China, Vietnam, Malaysia, Nigeria and the US. All of the company’s production plants conform to norms of international regulatory bodies.
· Ranbaxy Laboratories Ltd ranked 13th in the overall OTC healthcare market in 2008, with a value share of 2%. The company specialises in low-priced generics, which results in it having a considerably lower value than volume share. In January 2008, the company launched Chyawan Active, a sugar-free variant of chyawanprash specifically targeted at diabetics and obese people.
· The company is particularly strong in premium niches of vitamins and dietary supplements, with its lower prices making its range highly appealing. The company dominates ginseng, for example, in which it held a value share of 59% in 2008. It also held second place in ginkgo biloba in 2008, with a strong value share of 33%.
· Ranbaxy Laboratories Ltd’s leading OTC healthcare brand is its ginseng offering Revital. However, this brand suffered in 2005 with the introduction of VAT. The brand was initially treated as a food and not as a drug, and was thus subject to VAT of 12.5%. This eroded its low price advantage and the brand lost almost five percentage points in value share in 2005 over the previous year. The brand regained some share in 2006, however, and this continued in 2008, with a further two percentage points increase to 59%, aided by the introduction of new legislation classifying ginseng as a dietary supplement rather than as food.
· The company is strong in child-specific OTC healthcare, ranking seventh in 2008, with a value share of 3%. This is largely due to its dominance in child-specific diarrhoeal remedies, where it accounted for a steady 90% value share throughout the review period. The company’s reputation for high quality, combined with its low prices, makes it highly attractive in this product area, with child-specific products often being expensive.
Source-Euromonitor International-Local Company Profile-Ranbaxy Laboratories.
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