From putting Ranbaxy on the global pharmaceutical map to selling their stake in it to daiichi sankyo to their subsequent downfall, Legal Era chronicles the saga of the company’s former Promoters, Malvinder and Shivinder Singh
Back in 1937, when cousins Ranjit and Gurbax started a drug distribution firm in Amritsar, Punjab, little did they imagine that Ranbaxy would go on to become the face of India’s booming pharmaceuticals industry. After defaulting on a loan however, the duo was forced to sell the company to one Bhai Mohan Singh, a man who had left Rawalpindi, Pakistan, for Delhi, following the Partition. Under Bhai Mohan Singh, the firm launched its first bestselling drug, Calmpose, in 1961. Over the years, the baton passed from Bhai Mohan Singh to his son Parvinder Singh and finally to his grandsons Malvinder and Shivinder Singh who became Promoters of Ranbaxy Pharmaceuticals. In 2008, when Ranbaxy was at the peak of its glory, particularly in the generics’ space, Malvinder and Shivinder Singh decided to sell their stake in it to Japanese drug manufacturer Daiichi Sankyo for a jaw-dropping $4.6 billion.
A marriage gone wrong
This story is from the March 2018 edition of Legal Era.
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This story is from the March 2018 edition of Legal Era.
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