Sales of dollar two billion by 2007! Doesn’t it sound a little overambitious? Especially when one sees how Ranbaxy’s strategy of concentrating on the US market seems to have backfired with profits dipping due to various reasons. Hailed as the true Indian MNC, the US market has been the cornerstone of Ranbaxy’s growth. In fact, Ranbaxy has been operating in almost all the top markets for generic drugs and more than 70% of the company’s revenues come from overseas markets. But Ranbaxy reported a dramatic 47% fall in its net profits for the quarter ended June 30. Net profits dropped from Rs.1.97 billion in the last quarter to Rs.1.01 billion.
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Source: IIPM Editorial, 2006
