The Dark Side of America’s Pharmaceutical Trade (2005)


Ranbaxy was started by Ranbir Singh and Gurbax Singh in 1937 as a distributor for a Japanese company Shionogi. The name Ranbaxy is a portmanteau of the names of its first owners Ranbir and Gurbax. Bhai Mohan Singh bought the company in 1952 from his cousins Ranbir and Gurbax. After Bhai Mohan Singh’s son Parvinder Singh joined the company in 1967, the company saw an increase in scale.

In 1998, Ranbaxy entered the United States, the world’s largest pharmaceuticals market and a significant market for Ranbaxy, accounting for 28% of Ranbaxy’s sales in 2005.

For the twelve months ending on 31 December 2005, the company’s global sales were US$1,178 million, with overseas markets accounting for 75% of global sales (USA: 28%, Europe: 17%, Brazil, Russia, and China: 29%). For the twelve months ending on 31 December 2006, the company’s global sales were US$1,300 million.

Many of Ranbaxy’s products are manufactured under licence from foreign pharmaceutical developers, though a significant percentage of their products are off-patent drugs that are manufactured and distributed without licensing from the original manufacturer because the patents on such drugs have expired.[citation needed]

In December 2005, Ranbaxy’s share price was hit by a patent ruling disallowing production of its own version of Pfizer’s cholesterol-cutting drug Lipitor, which has annual sales of more than $10 billion.[6] In June 2008, Ranbaxy settled the patent dispute with Pfizer allowing them to sell Atorvastatin Calcium, the generic version of Lipitor and Atorvastatin Calcium-Amylodipine Besylate, the generic version of Pfizer’s Caduet in the US starting on 30 November 2011. The settlement also resolved several other disputes in other countries.

On 23 June 2006, Ranbaxy received from the United States Food & Drug Administration a 180-day exclusivity period to sell simvastatin (Zocor) in the US as a generic drug at 80 mg strength. Ranbaxy competes with the maker of brand-name Zocor, Merck & Co.; IVAX Corporation (which was acquired by and merged into Teva Pharmaceutical Industries Ltd.), which has 180-day exclusivity at strengths other than 80 mg; and Dr. Reddy’s Laboratories, also from India, whose authorised generic version (licensed by Merck) is exempt from exclusivity.

On 1 December 2011, Ranbaxy got approval from the US Food and Drug Administration to launch the generic version of drug Lipitor in the United States of America after its patent expired.

https://en.wikipedia.org/wiki/Ranbaxy_Laboratories

Image By Crystalius.in.ua (Own work) [CC BY 4.0 (http://creativecommons.org/licenses/by/4.0)], via Wikimedia Commons


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