RANBAXY GRAPPLES WITH THE EXODUS
Article Abstract:
Ranbaxy Laboratories has reported an executive turnover of 8.6 percent during 1997-98 against 3-4 percent reported by its competitors. Most of the senior scientists including key personnel like the head of the microbiology and head of anti- cancer screening have left Ranbaxy. Of the total 32 management trainees inducted by the company, 12 have left Ranbaxy. Competitors have attributed the high employee turnover to the high employee dissatisfaction. Mr Parvinder Singh, Chairman and Managing director of Ranbaxy, has stated that the scientists were non performers and that they had failed to meet the expectations of the company. He has also stated that some of the scientists were hired by pharmaceutical companies that were setting up their own research and development facilities. The employee turnover during 1997-98, was lower than the 10 percent reported in 1996-97 and 11.4 percent in 1995-96. Ranbaxy, which is said to be witnessing low employee morale, plans to launch 360- degree appraisals which includes appraisal of an employee's performance by superiors, peers and subordinates. (ag)
Comment:
Posts executive turnover of 8.6% during 1997-98 against 3-4% reported by its competitors
Publication Name: BusinessWorld
Subject: Business, international
ISSN:
Year: 1998
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SHOPPING FOR BARGAINS
Article Abstract:
Dilip Shanghvi of Sun Pharma has acquired a basket of labels belonging to Natco Pharmaceutical for Rs45 crore in November 1998. The company had acquired MJ Pharmaceuticals in 1996 for Rs2.8 crore, Gujarat Lyka Organics in 1996 for Rs5.6 crore, Tamilnadu Dadha Pharmaceuticals for Rs10 crore in 1998 and Caraco of the US for $7.5 million in 1997. Sources say that Sun Pharma may have completed its latest acquisition, that of Milmet Laboratories of Baroda for Rs6.75 crore. The company has increased its turnover from Rs10 crore in 1991 to Rs400 crore in 1998. Sun Pharma, one of the few companies that produces speciality drugs, has invested Rs11 crore on research in 1997-98 and plans to file its first patent application by 2000 AD. (khr)
Comment:
Dilip Shanghvi of Sun Pharma has acquired a basket of labels belonging to Natco Pharmaceutical for Rs45 crore in November 1998.
Publication Name: BusinessWorld
Subject: Business, international
ISSN:
Year: 1998
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HIMALAYAN MAKEOVER
Article Abstract:
The Rs150 crore Himalaya Drug Company of Bangalore has overhauled its product portfolio. The company which produces and markets Liv52, has ventured into the health, body, skin and hair care market. It has launched a new range of products under the brand name, Ayurvedic Concepts. The 15 product brand comprises of health and digestive capsules, a cough syrup, a pain balm, moisturising lotion hand and body lotions, shampoos and hair conditioners. (uh)(vr)
Publication Name: BusinessWorld
Subject: Business, international
ISSN:
Year: 1999
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