The document is Ranbaxy Laboratories Limited's 2010 Annual Report.
Some key highlights include:
- It was Ranbaxy's 50th year anniversary since incorporation.
- The Chairman's message thanks shareholders for their support over the company's 50 year journey and discusses utilizing past learnings and experience to strengthen the company's future.
- The report provides details on the company's financial performance, operations, research & development, quality initiatives, human resources, corporate social responsibility and other matters.
1. The Gorilla ICT Division provides outsourced channel sales and marketing services for leading technology companies.
2. It is led by an experienced executive team with decades of experience in channel sales and programs.
3. The division aims to generate incremental growth for technology clients through demand generation, field sales, channel strategy management and other outsourced services.
The document outlines management standards for organizational health and resilience. It aims to promote workforce wellbeing, performance, and prevent stress through 21 standards. The standards are designed to strengthen corporate, workforce and personal resilience against risks organizations face. They provide steps for high performance through embedding wellbeing into the workplace culture. Implementing the standards can help mitigate the influence of risks on performance and yield a high performance dividend with low cost.
The document summarizes a 5-day boot camp training for 80 community health volunteers from Dagoreti and Kibera on developing income generating activities. The training covered topics like conducting SWOT and TOWS analyses to help participants develop business ideas. It also covered the business canvas model, resource mobilization, finance options, record keeping, marketing strategies, and team building. The goal was for participants to develop sustainable business plans for potential income generating projects to support their community health work. Overall, the boot camp helped participants gain knowledge and tools to develop viable businesses and strategies for implementation.
The Business Model Design of Social EnterpriseLuke Kao
A social enterprise is an organization whose aim is to find the balance between
earning profits for shareholders and creating positive impacts in society. In the
following thesis, I shall share the building blocks needed for a business model directing
towards building a social enterprise, and draw comparison to those of for-profit
enterprises. Osterwalder and Pigneur proposed nine building blocks as a universal
business model (Business Model Generation 2010). My research considers this
proposed model while also considering three additional building blocks that specifically
pertaining to social enterprise: “social and environment revenue,” “social and
environment costs,” and “the social entrepreneur.” My research uses the information
collected from three social enterprise case studies, considering the social entrepreneurs
themselves, in addition to information concerning their company documents. My result
validates the theoretical foundation and practicality for these three additional building
blocks for developing social enterprises and for supplementing additional important
considerations while starting a social enterprise.
R4U Denim Factory is a jeans factory located in New Delhi, India that produces and trades jeans according to customer requirements. It aims to provide customized jeans based on customer orders through its do-it-yourself model. The business will target customers aged 15-35 in India through retail outlets in Delhi. It seeks to differentiate itself through instant preparation and delivery of customized jeans. The business will be a sole proprietorship initially with the owner investing $22,500 of the $30,000 required capital. It aims to utilize an online design portal and achieve 95% customer satisfaction within 3 years of operation.
This document is an issue of the magazine "Perform" which discusses performance management. The main article is titled "The Future of the Scorecard" and discusses how performance scorecards have evolved over time from financial measures to include more strategic non-financial metrics. Other articles in the issue discuss various organizations that have implemented performance management solutions from Actuate and its recent acquisition, Xenos, to improve business performance.
This document provides details about a research project conducted by Sampada Sahi on consumer perception of Minute Maid Pulpy Orange for Hindustan Coca-Cola Beverages Private Limited. The document includes an introduction, literature review, research methodology, findings and analysis through graphs, and conclusions. It finds that consumer reaction to Minute Maid Pulpy Orange is generally positive, though reaction varies slightly based on age group and gender. The document also acknowledges those who helped and guided the research project.
This document provides an analysis of Eyona Educare & Nursery Centre, a South African early childhood education business. It covers the business's entrepreneurial core, including its owners Nomonde and Xolani and business concept. It also analyzes the business's internal operations, resources, and infrastructure. Finally, it examines the business's external relationships, activities, and deliverables focused on improving bookkeeping, fundraising, marketing, and achieving government approval for more children. The overall document presents a comprehensive overview and strategic plan for strengthening and growing the early education business.
1. The Gorilla ICT Division provides outsourced channel sales and marketing services for leading technology companies.
2. It is led by an experienced executive team with decades of experience in channel sales and programs.
3. The division aims to generate incremental growth for technology clients through demand generation, field sales, channel strategy management and other outsourced services.
The document outlines management standards for organizational health and resilience. It aims to promote workforce wellbeing, performance, and prevent stress through 21 standards. The standards are designed to strengthen corporate, workforce and personal resilience against risks organizations face. They provide steps for high performance through embedding wellbeing into the workplace culture. Implementing the standards can help mitigate the influence of risks on performance and yield a high performance dividend with low cost.
The document summarizes a 5-day boot camp training for 80 community health volunteers from Dagoreti and Kibera on developing income generating activities. The training covered topics like conducting SWOT and TOWS analyses to help participants develop business ideas. It also covered the business canvas model, resource mobilization, finance options, record keeping, marketing strategies, and team building. The goal was for participants to develop sustainable business plans for potential income generating projects to support their community health work. Overall, the boot camp helped participants gain knowledge and tools to develop viable businesses and strategies for implementation.
The Business Model Design of Social EnterpriseLuke Kao
A social enterprise is an organization whose aim is to find the balance between
earning profits for shareholders and creating positive impacts in society. In the
following thesis, I shall share the building blocks needed for a business model directing
towards building a social enterprise, and draw comparison to those of for-profit
enterprises. Osterwalder and Pigneur proposed nine building blocks as a universal
business model (Business Model Generation 2010). My research considers this
proposed model while also considering three additional building blocks that specifically
pertaining to social enterprise: “social and environment revenue,” “social and
environment costs,” and “the social entrepreneur.” My research uses the information
collected from three social enterprise case studies, considering the social entrepreneurs
themselves, in addition to information concerning their company documents. My result
validates the theoretical foundation and practicality for these three additional building
blocks for developing social enterprises and for supplementing additional important
considerations while starting a social enterprise.
R4U Denim Factory is a jeans factory located in New Delhi, India that produces and trades jeans according to customer requirements. It aims to provide customized jeans based on customer orders through its do-it-yourself model. The business will target customers aged 15-35 in India through retail outlets in Delhi. It seeks to differentiate itself through instant preparation and delivery of customized jeans. The business will be a sole proprietorship initially with the owner investing $22,500 of the $30,000 required capital. It aims to utilize an online design portal and achieve 95% customer satisfaction within 3 years of operation.
This document is an issue of the magazine "Perform" which discusses performance management. The main article is titled "The Future of the Scorecard" and discusses how performance scorecards have evolved over time from financial measures to include more strategic non-financial metrics. Other articles in the issue discuss various organizations that have implemented performance management solutions from Actuate and its recent acquisition, Xenos, to improve business performance.
This document provides details about a research project conducted by Sampada Sahi on consumer perception of Minute Maid Pulpy Orange for Hindustan Coca-Cola Beverages Private Limited. The document includes an introduction, literature review, research methodology, findings and analysis through graphs, and conclusions. It finds that consumer reaction to Minute Maid Pulpy Orange is generally positive, though reaction varies slightly based on age group and gender. The document also acknowledges those who helped and guided the research project.
This document provides an analysis of Eyona Educare & Nursery Centre, a South African early childhood education business. It covers the business's entrepreneurial core, including its owners Nomonde and Xolani and business concept. It also analyzes the business's internal operations, resources, and infrastructure. Finally, it examines the business's external relationships, activities, and deliverables focused on improving bookkeeping, fundraising, marketing, and achieving government approval for more children. The overall document presents a comprehensive overview and strategic plan for strengthening and growing the early education business.
Here are the acronyms used in the document:
4C ASSOCIATION - Common Code for the Coffee Community Association
AIAG - Automotive Industry Action Group
BCI - Better Cotton Initiative
BLIHR - BLIHR: Business Leaders Initiative on Human Rights
BSCI - Business Social Compliance Initiative
BSI - Better Sugarcane Initiative
CARE - International Council of Toy Industries CARE Process
CERES - Coalition for Environmentally Responsible Economies
CSR - corporate social responsibility
ECF - European Coffee Federation
EICC - Electronics Industry Citizenship Coalition
EITI - Extractive Industries Transparency Initiative
12
EPS - Equator Principles
ETI - Eth
This document provides guidance on leading and motivating virtual teams. It discusses key characteristics of effective virtual teams such as clear communication strategies and developing trust. Several challenges of virtual teams are explored, such as not being able to concentrate or take time off due to always being available. The document also offers tips for motivating virtual teams and outlines skills needed in virtual leaders, emphasizing effective communication.
TCS has a large global footprint with offices and operations in over 240 locations across 44 countries. It has 141 offices in 42 countries and 107 solution centers in 20 countries. TCS has expanded its global delivery network through new centers and offices around the world, including in Latin America, to better serve multinational clients. Its global scale and interconnected workforce allow it to provide clients with on-site, domestic, and offshore resources that leverage its technology expertise and consistent processes.
Aldyryc Campaign Guide for Dungeons & Dragons 5th EditionMichael Fricker
A campaign setting developed over decades created for my book series, the Continuum Chronicles, and role-playing with my friends. Adjustments have been made from play-testing, which continues, and it is now fully illustrated.
This document provides an overview and rules for playing a character in the Aldyryc campaign setting for Dungeons & Dragons 5th edition. It covers character creation aspects like ability scores, alignment, classes, races, skills, equipment, and more. Key details include:
- Races include anthropic races like dwarves, elves, halflings, and more exotic races like ikari and minos.
- Classes are divided into Dreamwarriors like paladins and rangers, Dreamweavers like magicians and mystics, and Warriors like fighters and rogues.
- Magicians can specialize in arcane crafts and gain magic through an organization called the Cer
This document discusses how to use personas to build relationships and boost revenue. It introduces four main personas: Competitive, Spontaneous, Methodical, and Humanistic. Each persona is defined by their core motivations, values, buying needs, and how to best communicate with and present to each one. The document provides scenarios and examples to illustrate each persona's traits. It advises tailoring communications by focusing on the types of questions that most interest each persona, such as WHAT, WHY, HOW, and WHO questions. The goal is to understand different personalities and decision-making styles in order to most effectively engage with customers.
It’s a project based on generic view of Scholarship Database Management System but we have considered a case of WAPDA and then create a database on a basic level.
Besides this me and my group fellows cover the following topics WAPDA, INCORPORATION:, RESPONSIBILITIES, SEGMENTS, POWER Wing, WATER Wing, ORGANOGRAM, EXPERIENCE, CASE SCENARIO:, ENTITIES:, ASSOCIATIONS:, QUESTIONNAIRE, ERD BEFORE NORMALIZATION, NORMALIZATION:, ERD AFTER NORMALIZATION, SCRIPT, DESCRIBE STATEMENTS;, CONTACT, ADDRESS, BIRTH, COURSE, CHILDREN, DEPARTMENTS, ORGANIZATION, STUDENT, INCOME, EMPLOYEES, APPLICANTS, SPONSORS, EVENTS, DONORS, SCHOLARSHIP, ISTALLMENTS, PAYMENT, FUNDS, SELECT STATEMENTS, Views, SIMPLE VIEWS, COMPLEX VIEWS, SQL Queries, USER_OBJECTS, USER_CONSTRAINTS.
If you want to access complete package of word file, Visio file, Script and etc. related to this project then contact me.
The document announces the annual meeting of Cardinal Health shareholders to be held on November 5, 2008 at 2:00pm at Cardinal Health's headquarters in Dublin, OH. The purposes of the meeting are to elect directors, ratify the selection of the independent auditing firm, and vote on proposed amendments to corporate governing documents and compensation plans. Shareholders of record as of September 8, 2008 are entitled to vote.
MBA dissertation_Gerald Overstall_FINAL_24_12_13Gez Overstall
This dissertation examines the factors that influence employee uptake of flexible working arrangements. Through a case study of JT, a telecommunications company, the author conducted a survey of JT employees to understand the types of flexible working used, how arrangements are authorized, and employee perceptions of benefits and barriers. The study found that perceived barriers are a significant factor influencing uptake, and that challenges to these perceptions, tailored arrangements, and support through technology and training could help improve uptake of flexible working policies. The dissertation makes recommendations for organizations seeking to increase the value derived from flexible working.
CECP and Deloitte conducted research to develop global standards for defining and measuring corporate philanthropy. They analyzed corporate giving practices across 16 countries through a survey of tax codes, regulations and reporting practices. The results informed criteria for the Global Guide, which provides an international framework for tracking, reporting and benchmarking global corporate contributions in a consistent manner. This allows for improved transparency and comparison of social investment data.
Sharp Corporation final paper- business policy and strategySchwab Kaleb
This document contains a strategic plan analysis for Sharp Corporation, including:
1. A historical analysis of Sharp Corporation and the consumer electronics industry, as well as key competitors like LG, Panasonic, Samsung, and Sony.
2. A current analysis of Sharp's strategy, finances, marketing, and management, as well as the competitive landscape, economic factors, and key success factors of the consumer electronics industry.
3. A strategic plan proposing likely strategic maneuvers of competitors in the next 3 years and identifying a 3-year competitive strategy for Sharp, including which generic strategy fits best and specific offensive strategies to use against competitors.
The document is an introduction to the 5th edition of "The Executive Coaching Handbook". It discusses the need for standards and guidelines in executive coaching. It provides definitions of executive coaching as a developmental process for leaders conducted through interactions between the coach, executive, and organization. The handbook is intended to facilitate discussion on best practices. It outlines the organization of the handbook and covers sections on defining executive coaching, principles, guidelines, competencies and more. The introduction emphasizes the importance of research and continued improvement in the field.
Case: Field Manual for Your Workers on Grow Next Level ProgramJukka Hassinen
This field manual provides guidance for youth educators coaching teams through the Grow Next Level program. The manual outlines the six modules that make up the program, which focus on themes like teams and community, creativity and innovation, leadership, and entrepreneurship. Each module combines learning activities, dialogue, and hands-on projects for participants to gain skills in areas like teamwork, problem-solving, marketing, and self-leadership. The field manual provides detailed instructions for educators on facilitating the various exercises, workshops, and project components at each stage of the program. The goal is for youth to develop both hard and soft skills through an experiential learning process of doing, reflecting, and applying their knowledge.
High Performance Green Building: What is it worth?scottbrooker
This document summarizes a study investigating the market value of high performance green buildings. It provides context on the study's goals of bridging understanding between design/building and financial/investment communities. It also introduces the three case study buildings - Alley24 East in Seattle, 200 Market Place in Portland, and Vancouver Centre in Vancouver - and previews some of the key findings around operational savings, tenant satisfaction, and rents. The document aims to help different professionals understand how sustainable features may impact asset value.
Determination of individual competencies by statistical methods yuksek lisans...Tulay Bozkurt
This thesis examines determining individual competencies through statistical methods. It proposes a new competency model that identifies competencies required for success given changing environmental conditions. The model relates individual competencies as dependent variables to independent variables like a company's core competencies, human resource management competencies, environmental conditions, and work competencies. The study reviews competency literature and competency modeling approaches. It outlines a methodology using questionnaires and statistical analysis to test the relationships in the proposed competency model.
This document provides an overview of the key features and functionality of QuickBooks Enterprise Solutions 13.0. It describes the enhanced reporting, inventory management, productivity, and user control capabilities available in Enterprise Solutions. Specifically, it highlights improvements to reporting customization, inventory management, multi-user access, and industry-specific editions for contractors, manufacturers, nonprofits, and other sectors. The document is intended to demonstrate to potential customers how Enterprise Solutions can help businesses adapt to changing needs.
The document provides an orientation for a new Group Life director at North Point Ministries. It outlines an orientation timeline to help the director become familiar with the fundamentals, policies, and procedures of the Group Life ministry and North Point Ministries overall. The orientation is designed to be flexible based on individual learning styles and needs, with content delivered through meetings with staff, recommended reading materials, and hands-on experiences over the first week, month, and longer term. The overall goal is for the new director to understand both what they will be doing and the reasons behind the ministry's approach to group life.
The document provides an overview of the Putera Sampoerna Foundation's 10th anniversary annual report. It includes messages from the founder and managing director outlining the foundation's vision and achievements over the past decade in areas like education, women's empowerment, entrepreneurship, and compassionate relief. The report also provides details on the foundation's governance structure, programs, partnerships, and financial highlights.
Fiduciary Duties and Other Responsibilities Sixth Edition 2016Mason Matthies
This document is a sixth edition of a handbook that provides guidance to corporate directors and officers on fulfilling their fiduciary duties. It discusses the roles and responsibilities of directors and officers, as well as the fiduciary duties of care, loyalty and good faith. It also examines how these duties apply in specific contexts such as business transactions, takeovers, going private transactions, the use of special committees, and periods of insolvency or dissolution. The handbook is intended to be both an authoritative legal resource and a practical tool to help directors and officers address real-world governance challenges.
Enrolment Management and Strategic Planning at the University of Guelph, and
Vice-President: Student Affairs at Conestoga College.
In her role at SEM Works, Lynda provides strategic counsel to senior leadership teams
on enrolment management transformation initiatives, including: strategic planning; orga-
nizational design and development; process re-engineering; and change management. She
has led strategic planning and organizational reviews at over 50 institutions across North
America.
Lynda holds a Master’s degree in Educational Administration from the University of
Toronto and a Bachelor of Arts degree from the University of Western Ontario. She has
served on numerous boards and committees, including the Association of Registrars of the
- The Japanese pharmaceutical company Daiichi Sankyo acquired a majority stake in the Indian company Ranbaxy Laboratories for $3.4-4.6 billion. This creates an integrated pharmaceutical company spanning generics, research, and production across various markets. The combination provides growth opportunities through synergies in R&D, manufacturing, and market reach.
Ranbaxy Laboratories is an international pharmaceutical company headquartered in India. It manufactures generic and branded generic drugs and has manufacturing facilities in several countries. The document discusses Ranbaxy's business overview, financial performance from 2004-2008, demand forecasting for 2010, and recommendations. Ranbaxy's sales grew from 2004-2008 but it reported a net loss in 2008 due to issues with the US FDA and forex losses. Demand forecasting using a linear trend line model estimates Ranbaxy's sales in 2010 will be approximately Rs. 47,315.20 crores.
Here are the acronyms used in the document:
4C ASSOCIATION - Common Code for the Coffee Community Association
AIAG - Automotive Industry Action Group
BCI - Better Cotton Initiative
BLIHR - BLIHR: Business Leaders Initiative on Human Rights
BSCI - Business Social Compliance Initiative
BSI - Better Sugarcane Initiative
CARE - International Council of Toy Industries CARE Process
CERES - Coalition for Environmentally Responsible Economies
CSR - corporate social responsibility
ECF - European Coffee Federation
EICC - Electronics Industry Citizenship Coalition
EITI - Extractive Industries Transparency Initiative
12
EPS - Equator Principles
ETI - Eth
This document provides guidance on leading and motivating virtual teams. It discusses key characteristics of effective virtual teams such as clear communication strategies and developing trust. Several challenges of virtual teams are explored, such as not being able to concentrate or take time off due to always being available. The document also offers tips for motivating virtual teams and outlines skills needed in virtual leaders, emphasizing effective communication.
TCS has a large global footprint with offices and operations in over 240 locations across 44 countries. It has 141 offices in 42 countries and 107 solution centers in 20 countries. TCS has expanded its global delivery network through new centers and offices around the world, including in Latin America, to better serve multinational clients. Its global scale and interconnected workforce allow it to provide clients with on-site, domestic, and offshore resources that leverage its technology expertise and consistent processes.
Aldyryc Campaign Guide for Dungeons & Dragons 5th EditionMichael Fricker
A campaign setting developed over decades created for my book series, the Continuum Chronicles, and role-playing with my friends. Adjustments have been made from play-testing, which continues, and it is now fully illustrated.
This document provides an overview and rules for playing a character in the Aldyryc campaign setting for Dungeons & Dragons 5th edition. It covers character creation aspects like ability scores, alignment, classes, races, skills, equipment, and more. Key details include:
- Races include anthropic races like dwarves, elves, halflings, and more exotic races like ikari and minos.
- Classes are divided into Dreamwarriors like paladins and rangers, Dreamweavers like magicians and mystics, and Warriors like fighters and rogues.
- Magicians can specialize in arcane crafts and gain magic through an organization called the Cer
This document discusses how to use personas to build relationships and boost revenue. It introduces four main personas: Competitive, Spontaneous, Methodical, and Humanistic. Each persona is defined by their core motivations, values, buying needs, and how to best communicate with and present to each one. The document provides scenarios and examples to illustrate each persona's traits. It advises tailoring communications by focusing on the types of questions that most interest each persona, such as WHAT, WHY, HOW, and WHO questions. The goal is to understand different personalities and decision-making styles in order to most effectively engage with customers.
It’s a project based on generic view of Scholarship Database Management System but we have considered a case of WAPDA and then create a database on a basic level.
Besides this me and my group fellows cover the following topics WAPDA, INCORPORATION:, RESPONSIBILITIES, SEGMENTS, POWER Wing, WATER Wing, ORGANOGRAM, EXPERIENCE, CASE SCENARIO:, ENTITIES:, ASSOCIATIONS:, QUESTIONNAIRE, ERD BEFORE NORMALIZATION, NORMALIZATION:, ERD AFTER NORMALIZATION, SCRIPT, DESCRIBE STATEMENTS;, CONTACT, ADDRESS, BIRTH, COURSE, CHILDREN, DEPARTMENTS, ORGANIZATION, STUDENT, INCOME, EMPLOYEES, APPLICANTS, SPONSORS, EVENTS, DONORS, SCHOLARSHIP, ISTALLMENTS, PAYMENT, FUNDS, SELECT STATEMENTS, Views, SIMPLE VIEWS, COMPLEX VIEWS, SQL Queries, USER_OBJECTS, USER_CONSTRAINTS.
If you want to access complete package of word file, Visio file, Script and etc. related to this project then contact me.
The document announces the annual meeting of Cardinal Health shareholders to be held on November 5, 2008 at 2:00pm at Cardinal Health's headquarters in Dublin, OH. The purposes of the meeting are to elect directors, ratify the selection of the independent auditing firm, and vote on proposed amendments to corporate governing documents and compensation plans. Shareholders of record as of September 8, 2008 are entitled to vote.
MBA dissertation_Gerald Overstall_FINAL_24_12_13Gez Overstall
This dissertation examines the factors that influence employee uptake of flexible working arrangements. Through a case study of JT, a telecommunications company, the author conducted a survey of JT employees to understand the types of flexible working used, how arrangements are authorized, and employee perceptions of benefits and barriers. The study found that perceived barriers are a significant factor influencing uptake, and that challenges to these perceptions, tailored arrangements, and support through technology and training could help improve uptake of flexible working policies. The dissertation makes recommendations for organizations seeking to increase the value derived from flexible working.
CECP and Deloitte conducted research to develop global standards for defining and measuring corporate philanthropy. They analyzed corporate giving practices across 16 countries through a survey of tax codes, regulations and reporting practices. The results informed criteria for the Global Guide, which provides an international framework for tracking, reporting and benchmarking global corporate contributions in a consistent manner. This allows for improved transparency and comparison of social investment data.
Sharp Corporation final paper- business policy and strategySchwab Kaleb
This document contains a strategic plan analysis for Sharp Corporation, including:
1. A historical analysis of Sharp Corporation and the consumer electronics industry, as well as key competitors like LG, Panasonic, Samsung, and Sony.
2. A current analysis of Sharp's strategy, finances, marketing, and management, as well as the competitive landscape, economic factors, and key success factors of the consumer electronics industry.
3. A strategic plan proposing likely strategic maneuvers of competitors in the next 3 years and identifying a 3-year competitive strategy for Sharp, including which generic strategy fits best and specific offensive strategies to use against competitors.
The document is an introduction to the 5th edition of "The Executive Coaching Handbook". It discusses the need for standards and guidelines in executive coaching. It provides definitions of executive coaching as a developmental process for leaders conducted through interactions between the coach, executive, and organization. The handbook is intended to facilitate discussion on best practices. It outlines the organization of the handbook and covers sections on defining executive coaching, principles, guidelines, competencies and more. The introduction emphasizes the importance of research and continued improvement in the field.
Case: Field Manual for Your Workers on Grow Next Level ProgramJukka Hassinen
This field manual provides guidance for youth educators coaching teams through the Grow Next Level program. The manual outlines the six modules that make up the program, which focus on themes like teams and community, creativity and innovation, leadership, and entrepreneurship. Each module combines learning activities, dialogue, and hands-on projects for participants to gain skills in areas like teamwork, problem-solving, marketing, and self-leadership. The field manual provides detailed instructions for educators on facilitating the various exercises, workshops, and project components at each stage of the program. The goal is for youth to develop both hard and soft skills through an experiential learning process of doing, reflecting, and applying their knowledge.
High Performance Green Building: What is it worth?scottbrooker
This document summarizes a study investigating the market value of high performance green buildings. It provides context on the study's goals of bridging understanding between design/building and financial/investment communities. It also introduces the three case study buildings - Alley24 East in Seattle, 200 Market Place in Portland, and Vancouver Centre in Vancouver - and previews some of the key findings around operational savings, tenant satisfaction, and rents. The document aims to help different professionals understand how sustainable features may impact asset value.
Determination of individual competencies by statistical methods yuksek lisans...Tulay Bozkurt
This thesis examines determining individual competencies through statistical methods. It proposes a new competency model that identifies competencies required for success given changing environmental conditions. The model relates individual competencies as dependent variables to independent variables like a company's core competencies, human resource management competencies, environmental conditions, and work competencies. The study reviews competency literature and competency modeling approaches. It outlines a methodology using questionnaires and statistical analysis to test the relationships in the proposed competency model.
This document provides an overview of the key features and functionality of QuickBooks Enterprise Solutions 13.0. It describes the enhanced reporting, inventory management, productivity, and user control capabilities available in Enterprise Solutions. Specifically, it highlights improvements to reporting customization, inventory management, multi-user access, and industry-specific editions for contractors, manufacturers, nonprofits, and other sectors. The document is intended to demonstrate to potential customers how Enterprise Solutions can help businesses adapt to changing needs.
The document provides an orientation for a new Group Life director at North Point Ministries. It outlines an orientation timeline to help the director become familiar with the fundamentals, policies, and procedures of the Group Life ministry and North Point Ministries overall. The orientation is designed to be flexible based on individual learning styles and needs, with content delivered through meetings with staff, recommended reading materials, and hands-on experiences over the first week, month, and longer term. The overall goal is for the new director to understand both what they will be doing and the reasons behind the ministry's approach to group life.
The document provides an overview of the Putera Sampoerna Foundation's 10th anniversary annual report. It includes messages from the founder and managing director outlining the foundation's vision and achievements over the past decade in areas like education, women's empowerment, entrepreneurship, and compassionate relief. The report also provides details on the foundation's governance structure, programs, partnerships, and financial highlights.
Fiduciary Duties and Other Responsibilities Sixth Edition 2016Mason Matthies
This document is a sixth edition of a handbook that provides guidance to corporate directors and officers on fulfilling their fiduciary duties. It discusses the roles and responsibilities of directors and officers, as well as the fiduciary duties of care, loyalty and good faith. It also examines how these duties apply in specific contexts such as business transactions, takeovers, going private transactions, the use of special committees, and periods of insolvency or dissolution. The handbook is intended to be both an authoritative legal resource and a practical tool to help directors and officers address real-world governance challenges.
Enrolment Management and Strategic Planning at the University of Guelph, and
Vice-President: Student Affairs at Conestoga College.
In her role at SEM Works, Lynda provides strategic counsel to senior leadership teams
on enrolment management transformation initiatives, including: strategic planning; orga-
nizational design and development; process re-engineering; and change management. She
has led strategic planning and organizational reviews at over 50 institutions across North
America.
Lynda holds a Master’s degree in Educational Administration from the University of
Toronto and a Bachelor of Arts degree from the University of Western Ontario. She has
served on numerous boards and committees, including the Association of Registrars of the
- The Japanese pharmaceutical company Daiichi Sankyo acquired a majority stake in the Indian company Ranbaxy Laboratories for $3.4-4.6 billion. This creates an integrated pharmaceutical company spanning generics, research, and production across various markets. The combination provides growth opportunities through synergies in R&D, manufacturing, and market reach.
Ranbaxy Laboratories is an international pharmaceutical company headquartered in India. It manufactures generic and branded generic drugs and has manufacturing facilities in several countries. The document discusses Ranbaxy's business overview, financial performance from 2004-2008, demand forecasting for 2010, and recommendations. Ranbaxy's sales grew from 2004-2008 but it reported a net loss in 2008 due to issues with the US FDA and forex losses. Demand forecasting using a linear trend line model estimates Ranbaxy's sales in 2010 will be approximately Rs. 47,315.20 crores.
Ranbaxy has a choice between continuing as a manufacturer of generic drugs or developing proprietary medicines. It could potentially do both by continuing low-cost generic production while beginning to develop patented drugs in India, which has a suitable but improving infrastructure for innovation. Ranbaxy should focus on both developing and developed markets through mergers and strategic partnerships that give it access to foreign markets and resources, especially in geographically and culturally close countries like Russia and China.
Ranbaxy is India's largest pharmaceutical company, producing generic medicines for over 125 countries. It was founded in 1961 and went public in 1973. Ranbaxy has a global footprint with manufacturing facilities in 8 countries and offices in 43 countries. In 2008, Ranbaxy entered an alliance with Daiichi Sankyo to create an innovator and generic pharmaceutical powerhouse, now ranking among the top 20 pharmaceutical companies globally. Ranbaxy's mission is to enrich lives globally with quality and affordable pharmaceuticals.
This document provides information about Ranbaxy Laboratories Limited, including its group members, industry profile, company profile, vision, mission, and key areas like marketing, HR, finance, and recent news. It discusses that Ranbaxy is India's largest pharmaceutical company, ranked 8th globally in generics. It has manufacturing in 11 countries and a presence in 49 countries. The company aims to achieve customer satisfaction and be a responsible corporate citizen.
Ranbaxy Laboratories Ltd. was India’s largest pharmaceutical company in 2006, with global revenue of $1.3 billion. The document discusses Ranbaxy's history and growth strategy under different CEOs from the 1990s-2000s. It summarizes how Parvinder Singh expanded internationally through acquisitions and joint ventures, establishing manufacturing facilities around the world. His successors Devinder Singh Brar and Brian W Tempest continued the global strategy, further growing international sales especially in the US through generic drugs.
Cost centers and profit centers affect management decision making in a pharmaceutical company. Cost centers are areas where costs can be tracked, like production or R&D. Profit centers are areas responsible for revenues and expenses. Managers use variance analysis between budgeted and actual costs in responsibility centers to improve efficiency and plan future performance. This allows more focused financial analysis and benchmarking to aid decision making.
PRESENT SCENARIO OF INDIAN PHARMACEUTICAL INDUSTRY IN VIEW OF GLOBAL ...sridivyaannavarapu
THE INDIAN GOVERNMENT HAS STARTED TO ENCOURAGE THE GROWTH OF DRUG MANUFACTURING BY INDIAN COMPANIES IN THE EARLY 1960s. AT PRESENT THERE ARE MANY NUMBER OF PHARMACEUTICAL COMPANIES IN INDIA WITH MANY NOVEL DRUG INVENTORIES
Ranbaxy is India's largest pharmaceutical company with a global presence in 43 countries. It produces generic medicines and has world-class manufacturing facilities. In 2008, Ranbaxy entered an alliance with Daiichi Sankyo to create an innovator and generic pharmaceutical powerhouse. The Indian pharmaceutical industry is the 3rd largest globally by volume and Ranbaxy is a leading player in this industry.
This document examines the emerging industry of impact investing, which aims to generate both social/environmental benefits and financial returns. While the potential size of this market is large, impact investing currently remains small and disorganized. There are risks that it could remain a niche or fail to fulfill its promise of addressing social challenges at scale. However, the needs of the times call for more assets to be directed in this way. With leadership and coordination, impact investing could mature into a major complementary force through initiatives like developing new intermediaries, standardizing metrics, and increasing deal flow. Realizing its potential will require overcoming risks of the work being too difficult or easy.
This document discusses the emerging industry of impact investing, which aims to generate both social/environmental impact and financial returns through investments. It provides examples of impact investments that have helped provide affordable housing in New York City, access to solar energy in Tanzania, and expansion of small businesses in Cambodia. While the beneficiaries of these investments may not recognize themselves as part of the same industry, the document argues that impact investing has the potential to become a significant force for addressing global challenges at a large scale by complementing philanthropy and government efforts. It aims to analyze how to build up this industry and catalyze its continued growth.
This document provides a summary of a performance management guide for municipalities published by the UNDP. The guide aims to help municipalities establish performance monitoring systems to improve services for citizens. It outlines 8 steps for instituting a performance management framework, including organizing efforts, identifying outcomes and indicators, collecting and analyzing data, reporting results, setting targets, using information to improve services, and building capacity. The guide emphasizes measuring service outcomes and quality of life for citizens. It also discusses linking local performance measures to national goals like the Millennium Development Goals.
The document is Novo Nordisk's 2020 annual report. It discusses how Novo Nordisk, a pharmaceutical company focused on diabetes care, responded to the COVID-19 pandemic in 2020. Key points include:
- Novo Nordisk prioritized ensuring employee safety and uninterrupted supply of medicines for patients during the pandemic. It also assisted the Danish government with increasing COVID-19 testing capacity.
- The company made progress on scientific innovation and sustainability goals. This included using 100% renewable power globally and launching a new social responsibility strategy to defeat diabetes.
- Looking ahead, Novo Nordisk is exploring treatments for conditions beyond diabetes like cardiovascular disease, obesity, and potentially Alzheimer's disease. It is also
Spain has a population of 45.3 million people and a GDP of $1,409.9 billion in 2010. Spain ranks 36th out of 142 countries in the Global Competitiveness Index with a score of 4.5. Access to financing is the most problematic factor for doing business in Spain according to business leaders. The document provides detailed information on Spain's competitiveness based on 12 pillars of competitiveness including infrastructure, health and education, technological readiness, and innovation.
Toward Sustainability: Helping communities engage with and protect the environment
From the coastal sand dunes of Michigan’s Lower Peninsula to the warm waters of the Amazon River Basin, the Mott Foundation has long supported the stewardship of the world’s most precious natural resources. Featuring beautiful photography and first-hand perspectives of those working on the ground, the Foundation’s latest annual report highlights five examples of that work and introduces an important and exciting new focus in Mott’s grantmaking — advancing climate change solutions.
The report also features a message from William S. White, the Foundation’s chairman and CEO, who reflects on how this new focus builds on decades of exploration and learning. That experience, White says, “has taught us that this grantmaking must seek practical ways to simultaneously build strong economic, environmental and social conditions for all people — in a word, ‘sustainability.’”
Read more at http://www.mott.org/AR13
The document is a notice from Sun Microsystems for its 2007 Annual Meeting of Stockholders. It informs stockholders that the meeting will be held on November 8, 2007 at Sun's campus in Santa Clara, California. The purposes of the meeting are to elect directors, ratify the appointment of the independent auditors, approve stock and compensation plans, and consider two stockholder proposals. Stockholders of record as of September 10, 2007 are entitled to vote. Stockholders are encouraged to vote whether attending in person or by proxy.
ANALYSING THE COMPLEXITIES OF PEPSICO S OPERATIONS IN THE GLOBAL ENVIRONMENTAmy Cernava
PepsiCo operates globally and faces various challenges in the complex global business environment. The document analyzes key factors like globalization, politics, economics, technology, and sustainability that impact PepsiCo's operations. It discusses PepsiCo's strategies to address challenges like changing consumer demand, regulations, and sustainability. PepsiCo aims to deliver financial results through its performance with purpose strategy while positioning for long-term growth by focusing on healthier options, reducing environmental impact, and building strong communities.
Sustainability and Corporate Responsibility Report 2015Ericsson
Ericsson is the driving force behind the Networked Society and a world leader in communications technology and services. We are committed to Technology for Good™ by leveraging our technology and the expertise of our employees to meet global development challenges.
Sustainability and corporate responsibility are central to Ericsson’s core business and our aim is to create positive impacts for our stakeholders and our business whilst carefully managing risks. The latest Ericsson Sustainability and Corporate Responsibility Report summarizes our performance in these areas in 2015.
This document is ON Semiconductor's 2015 Corporate Social Responsibility report. It summarizes that this is the company's first year reporting according to the GRI G4 guidelines. While external assurance was not sought, the information is internally reviewed. The report details ON Semiconductor's CSR strategy, governance, environmental stewardship initiatives, employee relations programs, and community involvement. It provides an overview of the company's operations and introduces the topics that will be covered in the report.
Our commitment
For Danisco, sustainability is about finding innovative, sustainable and bio-based solutions to help our customers produce products that provide lasting benefits for society.
A comprehensive approach to sustainability
Sustainability – in product development, manufacturing, and consumption – is an essential part of our business. We see innovation as a part of our commitment to social, environmental and economic stewardship – and as a way to help our customers improve their own sustainability performance.
It’s about people, planet and profit
Whether providing healthy ingredients, enzymes that help reduce CO2 emissions and water consumption, or bio-based alternatives to synthetic products, we are dedicated to working toward a healthier, safer and cleaner world.
And it's about becoming first choice
As a world leader in food ingredients, enzymes and bio-based solutions, we recognise the importance of addressing global concerns such as climate change, health, and sustainable sourcing and production. While these challenges are complex, we have a cohesive strategy that involves close cooperation with our employees, customers and suppliers.
This document is a financial supplement from Genworth Financial for the second quarter of 2006. It includes key financial highlights such as:
- Total stockholders' equity of $12.21 billion as of June 30, 2006.
- Book value per common share of $26.84 as of June 30, 2006.
- Return on equity of 10.8% for the twelve months ended June 30, 2006 on a GAAP basis and 11.1% on an operating basis.
- Weighted average shares used in basic EPS calculations was 455.8 million for the second quarter of 2006.
This document is a financial supplement from Genworth Financial for the second quarter of 2006. It includes key financial highlights such as:
- Total stockholders' equity of $12.21 billion as of June 30, 2006.
- Book value per common share of $26.84 as of June 30, 2006.
- Return on equity of 10.8% for the twelve months ended June 30, 2006 on a GAAP basis and 11.1% on an operating basis.
- Weighted average shares used in basic EPS calculations was 455.8 million for the second quarter of 2006.
Social in this instance is really about engaging with prospects, nurturing that relationship, and building up their confidence levels to actually open up their wallet. Even if the nurturing process does not immediately (say, within six months) lead to a sale, the door remains open for future deals, if the company is persistent in its engagement with the prospect. In this respect, ROI is not about hard profits initially. It’s about establishing a relationship and building a level of trust with the prospect that paves the way for future business.
This document is the annual report of the East Leicestershire and Rutland Clinical Commissioning Group (CCG) for the 2014-15 fiscal year. It provides an overview of the CCG's activities and achievements over the past year, including new services commissioned, efforts to involve patients and the public, quality and safety initiatives, and financial performance. It also outlines the CCG's strategic priorities and vision for high quality, sustainable healthcare for the local population into the future.
This document is the annual report of the East Leicestershire and Rutland Clinical Commissioning Group (CCG) for the 2014-15 fiscal year. It provides an overview of the CCG's activities and achievements over the past year, including new services commissioned, efforts to involve patients and the public, quality and safety initiatives, and financial performance. It also outlines the CCG's strategic priorities and vision for high quality, sustainable healthcare for the local population into the future.
The CEO sent a letter to fellow shareholders updating them on the company's transformation journey over the past six years. The company has completed the initial phases of stabilizing, repairing, and turning around, and is now in the build the base phase, having successfully executed its strategy of increasing organic growth and building geographic diversity through an acquisition. The CEO thanked employees for their hard work and shareholders for their support during this transformation.
This document is Lockheed Martin's Code of Ethics and Business Conduct. It provides guidance to employees on ethical standards and compliance with laws and regulations. The Code emphasizes integrity, respecting others, and performing with excellence. It addresses topics like discrimination, conflicts of interest, accurate record keeping, and protecting sensitive information. Employees are responsible for understanding and upholding the standards in the Code. Violations should be reported, and there is no retaliation against employees who report concerns in good faith.
This document is the annual Global Venture Capital and Private Equity Country Attractiveness Index for 2009/2010 published by Alexander Groh and Heinrich Liechtenstein. It measures and ranks countries based on their attractiveness for venture capital and private equity investments. The index analyzes over 300 data points for many countries and calculates scores based on factors like market size, economic activity, capital market development, taxation, and legal protections. It finds the United States to be the most attractive country, followed by Canada, the UK, Israel, and India. The report also includes analysis of VC/PE activity and conditions in different global regions.
This document from the World Bank discusses financing for development after 2015. It identifies several key areas needed to achieve development outcomes: a global cooperation framework, good domestic policies and institutions, and financing for global public goods. It also examines how to better mobilize domestic resources through taxation, natural resource revenues, expenditure efficiency, and curbing illicit financial flows. The document also discusses improving the effectiveness and catalytic role of aid given the changing aid landscape with new donors and actors. Mobilizing private finance, particularly long-term infrastructure finance, will require removing bottlenecks and using public sector guarantees and risk insurance more. Emerging and innovative sources of finance are also explored such as bond markets, institutional investors, diasporas, and examples like
Easily Verify Compliance and Security with Binance KYCAny kyc Account
Use our simple KYC verification guide to make sure your Binance account is safe and compliant. Discover the fundamentals, appreciate the significance of KYC, and trade on one of the biggest cryptocurrency exchanges with confidence.
Storytelling is an incredibly valuable tool to share data and information. To get the most impact from stories there are a number of key ingredients. These are based on science and human nature. Using these elements in a story you can deliver information impactfully, ensure action and drive change.
Discover timeless style with the 2022 Vintage Roman Numerals Men's Ring. Crafted from premium stainless steel, this 6mm wide ring embodies elegance and durability. Perfect as a gift, it seamlessly blends classic Roman numeral detailing with modern sophistication, making it an ideal accessory for any occasion.
https://rb.gy/usj1a2
❼❷⓿❺❻❷❽❷❼❽ Dpboss Matka Result Satta Matka Guessing Satta Fix jodi Kalyan Final ank Satta Matka Dpbos Final ank Satta Matta Matka 143 Kalyan Matka Guessing Final Matka Final ank Today Matka 420 Satta Batta Satta 143 Kalyan Chart Main Bazar Chart vip Matka Guessing Dpboss 143 Guessing Kalyan night
Taurus Zodiac Sign: Unveiling the Traits, Dates, and Horoscope Insights of th...my Pandit
Dive into the steadfast world of the Taurus Zodiac Sign. Discover the grounded, stable, and logical nature of Taurus individuals, and explore their key personality traits, important dates, and horoscope insights. Learn how the determination and patience of the Taurus sign make them the rock-steady achievers and anchors of the zodiac.
How are Lilac French Bulldogs Beauty Charming the World and Capturing Hearts....Lacey Max
“After being the most listed dog breed in the United States for 31
years in a row, the Labrador Retriever has dropped to second place
in the American Kennel Club's annual survey of the country's most
popular canines. The French Bulldog is the new top dog in the
United States as of 2022. The stylish puppy has ascended the
rankings in rapid time despite having health concerns and limited
color choices.”
The APCO Geopolitical Radar - Q3 2024 The Global Operating Environment for Bu...APCO
The Radar reflects input from APCO’s teams located around the world. It distils a host of interconnected events and trends into insights to inform operational and strategic decisions. Issues covered in this edition include:
[To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
This PowerPoint compilation offers a comprehensive overview of 20 leading innovation management frameworks and methodologies, selected for their broad applicability across various industries and organizational contexts. These frameworks are valuable resources for a wide range of users, including business professionals, educators, and consultants.
Each framework is presented with visually engaging diagrams and templates, ensuring the content is both informative and appealing. While this compilation is thorough, please note that the slides are intended as supplementary resources and may not be sufficient for standalone instructional purposes.
This compilation is ideal for anyone looking to enhance their understanding of innovation management and drive meaningful change within their organization. Whether you aim to improve product development processes, enhance customer experiences, or drive digital transformation, these frameworks offer valuable insights and tools to help you achieve your goals.
INCLUDED FRAMEWORKS/MODELS:
1. Stanford’s Design Thinking
2. IDEO’s Human-Centered Design
3. Strategyzer’s Business Model Innovation
4. Lean Startup Methodology
5. Agile Innovation Framework
6. Doblin’s Ten Types of Innovation
7. McKinsey’s Three Horizons of Growth
8. Customer Journey Map
9. Christensen’s Disruptive Innovation Theory
10. Blue Ocean Strategy
11. Strategyn’s Jobs-To-Be-Done (JTBD) Framework with Job Map
12. Design Sprint Framework
13. The Double Diamond
14. Lean Six Sigma DMAIC
15. TRIZ Problem-Solving Framework
16. Edward de Bono’s Six Thinking Hats
17. Stage-Gate Model
18. Toyota’s Six Steps of Kaizen
19. Microsoft’s Digital Transformation Framework
20. Design for Six Sigma (DFSS)
To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations
Unveiling the Dynamic Personalities, Key Dates, and Horoscope Insights: Gemin...my Pandit
Explore the fascinating world of the Gemini Zodiac Sign. Discover the unique personality traits, key dates, and horoscope insights of Gemini individuals. Learn how their sociable, communicative nature and boundless curiosity make them the dynamic explorers of the zodiac. Dive into the duality of the Gemini sign and understand their intellectual and adventurous spirit.
How to Implement a Real Estate CRM SoftwareSalesTown
To implement a CRM for real estate, set clear goals, choose a CRM with key real estate features, and customize it to your needs. Migrate your data, train your team, and use automation to save time. Monitor performance, ensure data security, and use the CRM to enhance marketing. Regularly check its effectiveness to improve your business.
Anny Serafina Love - Letter of Recommendation by Kellen Harkins, MS.AnnySerafinaLove
This letter, written by Kellen Harkins, Course Director at Full Sail University, commends Anny Love's exemplary performance in the Video Sharing Platforms class. It highlights her dedication, willingness to challenge herself, and exceptional skills in production, editing, and marketing across various video platforms like YouTube, TikTok, and Instagram.
Brian Fitzsimmons on the Business Strategy and Content Flywheel of Barstool S...Neil Horowitz
On episode 272 of the Digital and Social Media Sports Podcast, Neil chatted with Brian Fitzsimmons, Director of Licensing and Business Development for Barstool Sports.
What follows is a collection of snippets from the podcast. To hear the full interview and more, check out the podcast on all podcast platforms and at www.dsmsports.net
Part 2 Deep Dive: Navigating the 2024 Slowdownjeffkluth1
Introduction
The global retail industry has weathered numerous storms, with the financial crisis of 2008 serving as a poignant reminder of the sector's resilience and adaptability. However, as we navigate the complex landscape of 2024, retailers face a unique set of challenges that demand innovative strategies and a fundamental shift in mindset. This white paper contrasts the impact of the 2008 recession on the retail sector with the current headwinds retailers are grappling with, while offering a comprehensive roadmap for success in this new paradigm.
Industrial Tech SW: Category Renewal and CreationChristian Dahlen
Every industrial revolution has created a new set of categories and a new set of players.
Multiple new technologies have emerged, but Samsara and C3.ai are only two companies which have gone public so far.
Manufacturing startups constitute the largest pipeline share of unicorns and IPO candidates in the SF Bay Area, and software startups dominate in Germany.
3. Ranbaxy Laboratories Limited Annual Report 2010
CHAIRMAN'S
MESSAGE Down memory lane...
Annual Report 1965 Annual Report 1975 Annual Report 1985
Yesterday…Today…
Tomorrow…
Dear Valued Shareholders,
CONTENTS Milestones on the Leadership Path..................2
Chairman's Message ........................................4
Dr. Tsutomu Une
Chairman
T he year 2010 is of special significance as your
company entered its 50th year of incorporation.
Please allow me to thank you for your wholehearted
support in this fascinating journey.
Managing Director's Message .........................8
Business & Operations ..................................12
Research & Development..............................26
The Golden Jubilee year is a time to celebrate our past
successes, of which we have had many, in the last five decades
Global Quality ...............................................29
of our existence. It is also the time to utilise our learnings and Global Human Resources ..............................30
Sales Rs. Million
vast experience to firmly put behind us past challenges, and in
doing so, enable the company to move forth with renewed Corporate Social Responsibility and
85,507 Mn
vigour. With the shift in demographic and health factors Environment, Health & Safety ......................32
51,880 Mn
around the world and with rapid consolidation of the
Corporate Governance...................................36
7122 Mn
pharmaceutical industry, this new decade will see innovative
709 Mn
thinking in the way healthcare solutions are brought within Certificate from Managing Director
56 Mn
easy reach of millions around the world. and Director-Global Accounts.......................47
6.68 Mn
Ranbaxy has a rich heritage and a glorious past. Board of Directors .........................................48 1965 1975 1985 1995 2005 2010
Your company has over the years achieved a significant
presence in India and globally by leveraging its integrated Report of the Directors ..................................49 Annual Report 1995 Annual Report 2005 Years
model across many developed, developing and emerging
Ten Years at a Glance....................................62
nations. Indeed, it is a matter of great pride that the company is
widely acknowledged as the proud flag bearer of the Indian Auditors' Report.............................................63
pharmaceutical industry.
Financial Statements of Ranbaxy
Standalone .....................................................66
Consolidated Indian GAAP.........................111
04
4. MILESTONES ON THE
LEADERSHIP PATH
Production
IPO (Initial Public A modern starts at the modern
Ist blockbuster
Offering) First pharmaceutical API plant, Toansa Toansa (Punjab),
Incorporated brand
launched; attains Joint Venture plant at Dewas (Punjab), India, India, plant
1961 as a Private 1969 Calmpose 1973 Public Limited 1978 set up in 1983 (Madhya Pradesh), 1987 1988 gets US FDA
Limited Company launched making Ranbaxy, the
company status Nigeria India, goes on country's largest approval
in India
(listed in Feb 1974) stream manufacturer of
Antibiotics
1st product Ranbaxy's Paonta
Corporate Mission Ciprofloxacin OD,
State-of-the-art under Ranbaxy Ranbaxy Sahib facility
enunciated - “To Acquires Ohm Ranbaxy's original
Research Centre at label introduced in conferred with receives CII's
become a Research Laboratories Inc., NDDS research
1993 based International 1994 Gurgaon (India) 1995 a manufacturing 1997 1998 the US, the 1999 product, out- 1999 Rajiv Gandhi 2001 National Award for
becomes world's biggest National Quality Excellence in
Pharmaceutical facility in USA licensed to Bayer
fully operational pharmaceutical Award Energy
Company” AG, Germany
market Management
Makes its first Ranbaxy Brazil Ranbaxy US Ranbaxy Acquires
Ranbaxy bags the Global receives the Malaysia Sdn. leading Romanian
Anti-retroviral (ARV) bags the Third
Joins hands with ‘Economic Times Sales cross prestigious Supplier Bhd. (RMSB) pharma company
filing with the US FDA prestigious state-of-the-art Terapia and
Clinton Foundation Award’ for US $ 1 Billion; Award from commissions it’s new
2003 on drugs for
2003 Best Performing Joins the elite 2004 under US President’s 2004 Entrepreneurial 2005 R&D facility
Wal-Mart, for 2005 state-of-the-art 2006 Be-Tabs
Emergency plan for Company of the opens in pharmaceuticals,
HIV/AIDS Company of the club of Billion outstanding manufacturing 5th largest generics
AIDS relief program year Award by Gurgaon (India) performance in the
Year Dollar Companies facility in company in
(PEPFAR) Frost & Sullivan first quarter of 2005 Malaysia South Africa
Ranbaxy’s Drug Ranbaxy partners Ranbaxy launches Commences
Business Today Discovery Team Business World Project “Viraat” Ranbaxy
achieves significant with Daiichi Sankyo (DS) Daiichi Sankyo's Phase-III studies on its The Golden Jubilee
recognises Ranbaxy ranks Ranbaxy as launched in India – delivers Quarterly
milestone in GSK establishing a unique innovative anti-malaria Year – 50 Years
as one of the Most
2007 2007
the Most
2008 and powerful 2009 combination new a key initiative to Sales of over 2010
Innovative
research collaboration
Respected
antihypertensive,
strengthen company’s
2010 US $ 500 Million
of an inspiring, -
Companies in an
- with the candidate
Company in the
Hybrid Business Olvance (Olmesartan) drug, Arterolane pioneering and 2011
selection of compound Model; DS becomes a in India - First Maleate + Piperaquine leadership position for the
industry survey for Respiratory pharma industry historic journey!
majority partner synergistic step Phosphate in India first time
Inflammation
02
5.
6.
7.
8.
9.
10.
11.
12.
13.
14.
15.
16.
17.
18.
19.
20.
21.
22.
23.
24.
25.
26.
27.
28.
29.
30.
31.
32.
33.
34.
35.
36.
37. Report On Corporate Ranbaxy Laboratories Limited
Governance
1. THE COMPANY’S PHILOSOPHY ON CODE OF CORPORATE GOVERNANCE
In order to ensure sustainable returns to all stakeholders of the business, it is imperative, especially for large
organizations, to adopt and follow certain policies, procedures and processes, which together constitute a “Code of
Corporate Governance”. It is important that such a Code is institutionalized, to ensure transparency, consistency
and uniformity of decision making processes and actions. Ranbaxy has always believed in such a “Sound” Code
of Corporate Governance, as a tool for highest standards of management and business integrity.
2. BOARD OF DIRECTORS
The details of Directors on the Board of the Company as on December 31, 2010 are as under:
Name of the Director Category Number of Number Number of
Directorships of Board Chairmanship
held in other Committee of Board
companies @ memberships Committees
held in other held in other
companies ^ companies^
Dr. Tsutomu Une, Non-Executive- – – –
Chairman Non-Independent
Mr. Takashi Shoda -do- – – –
Dr. Anthony H. Wild Non-Executive- – – –
Independent
Mr. Akihiro Watanabe -do- – – –
Mr. Percy K. Shroff -do- – – –
Mr. Rajesh V. Shah -do- 6 1 –
Mr. Arun Sawhney, Executive – – –
Managing Director
@ Excludes private and foreign companies and companies registered under Section 25 of the Companies Act, 1956.
^ Includes only the membership of Audit and Shareholders’/Investors’ Grievance and Share Transfer Committees of
Indian public limited companies.
Notes:
1) At the Board Meeting held on August 12, 2010, Mr. Atul Sobti stepped down as CEO and Managing Director
effective August 19, 2010 and Mr. Arun Sawhney was appointed as Managing Director of the Company
effective August 20, 2010 subject to the requisite approval of the shareholders.
2) None of the Directors are related inter-se.
3. BOARD MEETINGS
Dates of Board meetings are fixed in advance and agenda papers are circulated to Directors in advance.
Meetings and Attendance
During the year 2010, four Board Meetings were held: February 24-25, May 11, August 12 and November 11,
2010.
Attendance of Directors at Board Meetings and at the Annual General Meeting (AGM)
Name of the Director No. of Board Whether Attended the
Meetings attended AGM held on May 10, 2010
Dr. Tsutomu Une 4 Yes
Mr. Takashi Shoda 2* Yes
Dr. Anthony H. Wild 4 Yes
Mr. Akihiro Watanabe 4 Yes
Mr. Percy K. Shroff 3 Yes
Mr. Rajesh V. Shah 4 Yes
Mr. Arun Sawhney 1 N.A.
Mr. Atul Sobti 3 Yes
*Mr. Takashi Shoda participated in the Board meeting held on February 24-25 through tele-conference.
36
38. Ranbaxy Laboratories Limited
4. COMMITTEES OF THE BOARD
(i) Audit Committee
The Audit Committee has been constituted as per Section 292A of the Companies Act, 1956 and the guidelines
set out in the Listing Agreements with the Stock Exchanges. The terms of reference include -
• Overseeing financial reporting processes.
• Reviewing periodic financial results, financial statements and adequacy of internal control systems.
• Approving internal audit plans and reviewing efficacy of the function.
• Discussion and review of periodic audit reports.
• Discussions with external auditors about the scope of audit including the observations of the auditors.
• Recommend to the Board appointment of the statutory auditors and fixation of audit fees.
• Reviewing with the management, the statement of uses / application of funds raised through an issue (public,
rights, preferential issue of securities etc.)
• Reviewing with the management the performance of statutory and internal auditors.
Minutes of meetings of the Audit Committee are circulated to members of the Committee and the Board.
Composition and Attendance
During the year 2010, four meetings of the Audit Committee were held on February 24, May 10, August 11 and
November 10, 2010. The composition of the Committee and details of the meetings attended by the members
during the year are as under:
Name of the Member No. of Meetings attended
Mr. Akihiro Watanabe, Chairman 4
Dr. Tsutomu Une 4
Dr. Anthony H. Wild 4
Mr. Percy K. Shroff 3
Mr. Rajesh V. Shah 4
Permanent Invitees
Mr. Atul Sobti* 3
Mr. Arun Sawhney** 1
Note: Mr. Takashi Shoda attended 3 meetings as an invitee.
*Ceased w.e.f.. August 19, 2010
**Inducted w.e.f. August 20, 2010
Members of the Audit Committee have requisite financial and management expertise and have held or hold senior
positions in reputed organizations.
The Statutory Auditors, Internal Auditor and the Chief Financial Officer are invited to attend and participate at
meetings of the Committee.
The Company Secretary acts as the Secretary to the Committee.
The Chairman of the Audit Committee was present at the Annual General Meeting held on May 10, 2010.
(ii) Compensation Committee
The Compensation Committee has been constituted as per the provisions set out in the SEBI (Employee Stock
Option Scheme and Employee Stock Purchase Scheme) Guidelines, 1999. The terms of reference include –
• Administration and superintendence of Employee Stock Option Schemes (ESOS).
• Formulation of the detailed terms and conditions of the ESOS.
• Grant of stock options.
• Recommendation for fixation and periodic revision of compensation of the Managing Director and Executive
Directors to the Board for approval and review and approve compensation policy (including performance
bonus, incentives, perquisites and benefits) for senior management personnel.
37
39. Ranbaxy Laboratories Limited
Minutes of meetings of the Compensation Committee are circulated to members of the Committee and the
Board.
Composition and Attendance
During the year 2010, Two meetings of the Compensation Committee were held on February 24 and August 11,
2010. The composition of the Committee and details of the meetings attended by the members during the year
are as under:
Name of the Member No. of Meetings attended
Mr. Rajesh V. Shah, Chairman 2
Dr. Tsutomu Une 2
Mr. Percy K. Shroff 1
Dr. Anthony H.Wild 2
Permanent Invitees
Mr. Atul Sobti* 2
Mr. Arun Sawhney** N.A.
*Ceased w.e.f. August 19, 2010
**Inducted w.e.f. August 20, 2010
Remuneration Policy
The Remuneration Policy of the Company for managerial personnel is primarily based on the following criteria:
- Performance of the Company, its divisions and units.
- Track record, potential and performance of individual managers and
- External competitive environment.
Remuneration of Directors
Remuneration of Executive Directors is decided by the Board based on recommendations of the Compensation
Committee as per the remuneration policy of the Company, within the ceiling fixed by the shareholders. The
details of the remuneration of Executive Directors for the year ended December 31, 2010 are as under:
Name of the Salary & Commission/ Perquisites Retiral Stock Service Contract
Director Allowances Performance Benefits Options Tenure Notice Period
Bonus & Severance
Fee
-------------------- Rs. Lacs -----------------------
Mr. Atul Sobti 331.19 – 3.58 9.47 50,000 N.A. N.A.
Mr. Arun 219.14 237.75 6.82 19.16 15,000 3 years 6 months
Sawhney
Notes:
1. Remuneration of Mr. Atul Sobti is for the period from 1.1.2010 to 19.8.2010, the day he stepped down as
CEO & Managing Director of the Company.
2. Remuneration of Mr. Arun Sawhney is for the period from 1-1-2010 to 19-8-2010 as President-Global
Pharmaceutical Business and for the period from 20-8-2010 to 31-12-2010 as Managing Director.
3. Remuneration of Executive Directors consists of fixed component and commission which is linked with the
profit of the Company.
4. Retiral benefits are exclusive of provision for future liabilities in respect of retirement benefits (which are based
on actuarial valuation done on overall Company basis).
5. The closing market price of the share of the Company listed at National Stock Exchange of India (NSE) on
February 23, 2010 was Rs. 449.60. Hence the aforesaid options were not granted at a discount. Further, the
said options granted to Mr. Sobti have since lapsed consequent to his stepping down as CEO & Managing
Director of the Company.
38
40. Ranbaxy Laboratories Limited
Remuneration to Non-Executive Directors
Remuneration to Non-Executive Directors comprises commission and sitting fees. The shareholders of the
Company at their Annual General Meeting held on May 29, 2009 approved the payment of commission to
Non-Executive Directors not exceeding 1% of the net profits of the Company as computed under the relevant
provisions of the Companies Act, 1956. The Board of Directors determines the commission payable to the Non-
Executive Directors keeping in view the independent status, contribution at the Board and Committee meetings
and responsibilities considering the extensive global operations of the Company.
Details of remuneration paid to the Non-Executive Directors for the year ended December 31, 2010 are as under:
Non-Executive Directors
Name of the Director Commission Sitting Fees
(Rs. Lacs) (Rs. Lacs)
Dr. Tsutomu Une 50 2.30
Mr. Takashi Shoda 50 0.60
Mr. Rajesh V. Shah 100 2.00
Mr. Percy K. Shroff 100 1.75
Dr. Anthony H. Wild 100 2.20
Mr. Akihiro Watanabe 100 1.60
None of the Non-Executive Directors holds any shares in the Company.
(iii) Science Committee
Terms of Reference of Science Committee include review focus areas of research and monitoring progress on
generic development.
Minutes of meetings of the Science Committee are circulated to members of the Committee and the Board.
Composition and Attendance
During the year 2010 one meeting of the Science Committee was held on August 11, 2010. The composition of
the Committee and attendance of the members at the said meeting is as under:
Name of the Member No. of Meetings attended
Dr. Tsutomu Une, Chairman 1
Mr. Takashi Shoda 1
Dr. Anthony H. Wild 1
Mr. Arun Sawhney* N.A.
Mr. Atul Sobti** 1
Permanent Invitee
Dr. Sudershan K. Arora- President-R&D 1
* Co-opted w.e.f. August 20, 2010
**Ceased w.e.f. August 19, 2010
(iv) Shareholders’/Investors’ Grievance and Share Transfer Committee
The Shareholders’/Investors’ Grievance and Share Transfer Committee has been constituted as per the provisions
set out in the Listing Agreement. The terms of reference include –
• Approve transfers, transmissions, issue of duplicate certificates, transpositions, change of names etc., and to do
all such acts, deeds, matters and things as connected therein.
• Review complaints of the shareholders and action taken by the Company.
Minutes of meetings of the Shareholders’/Investors’ Grievance and Share Transfer Committee are circulated to
members of the Committee and the Board.
39
41. Ranbaxy Laboratories Limited
Composition and Attendance
During the year 2010, seven meetings of the Committee were held on January 18, April 5, July 15, August 3,
September 10, October 20 and December 1, 2010. The composition of the Committee and attendance of the
members at the said meeting is as under:
Name of the Member No. of Meetings attended
Mr. Percy K. Shroff, Chairman 7
Dr. Tsutomu Une 2
Mr. Arun Sawhney* 3
Mr. Atul Sobti** 4
* Co-opted w.e.f. August 20, 2010
**Ceased w.e.f. August 19, 2010
The Company addresses all complaints, suggestions and grievances expeditiously and replies have been sent/issues
resolved usually within 15 days except in case of dispute over facts or other legal constraints.
During the year, the Company received 35 shareholders’ complaints which inter-alia include non-receipt of
dividend, annual report, split shares, non-receipt of share certificates etc. The complaints were duly attended to
and the Company has furnished necessary documents/information to the shareholders. As of December 31, 2010,
all the complaints have been resolved except one which is sub-judice.
The Shareholders’/Investors’ Grievance and Share Transfer Committee reviews complaints received and action
taken by the Company in this regard.
No requests for share transfers are pending except those that are disputed or sub-judice.
Mr. S. K. Patawari, Company Secretary is the Compliance Officer of the Company.
5. GENERAL BODY MEETINGS
Details of the General Meetings held in the last three years:
I. Annual General Meeting
Year Date Day Time Venue Special Resolutions Passed
2008 30-5-2008 Friday 11.00 A.M. The National Institute -Appointment of Dr. Brian W.
of Pharmaceutical Tempest as an “Advisor” to
Education & Research, Ranbaxy Europe Ltd., a wholly
Sector 67, S.A.S. owned subsidiary of the Company
Nagar, Punjab for a period of three years effective
January 1, 2008.
- Approval for amendment in
Employees Stock Option Scheme(s)
of the Company to provide that Stock
Options granted and outstanding in
the hands of the employees who may
be transferred to any entity affiliated
to the Company would vest on the
date of transfer of such employees
provided one year has elapsed
between the date of grant of stock
options and date of such transfer.
40
42. Ranbaxy Laboratories Limited
Year Date Day Time Venue Special Resolutions Passed
2009 29-5-2009 Friday 11.00 A.M. The National Institute Approval under Section 309(4) of the
of Pharmaceutical Companies Act, 1956 for payment
Education & Research, of commission to the Non-executive
Sector 67, S.A.S. Directors of the Company, not
Nagar, Punjab exceeding one percent of net profits
of the Company in the aggregate for
all the Non-executive Directors in
a financial year for a period of five
years commencing from January 1,
2009.
2010 10-5-2010 Monday 11.00 A.M. The National Institute No Special Resolution passed.
of Pharmaceutical
Education & Research,
Sector 67, S.A.S.
Nagar, Punjab
II. Extra-ordinary General Meeting
2008 15-7-2008 Tuesday 9.00 A.M. Confederation of - Approval under Section 81(1A) of
Indian Industry (CII), the Companies Act, 1956 for issue of
Block No. 3, Sector- Equity Shares and Warrants of the
31 A, Dakshin Marg, Company on preferential basis to
Chandigarh Daiichi Sankyo Company, Limited,
Japan.
- Approval for amendment to the
Employees Stock Option Scheme(s)
of the Company to the effect that
maximum number of stock options
that may be granted to individual
management employee in a year be
increased from 40,000 to 3,00,000
6. CODE OF CONDUCT
The Code of Conduct for the Directors and Employees of the Company is posted on the website of the Company.
Declaration as required under Clause 49 of the Listing Agreement
All Directors and Senior Management personnel of the Company have affirmed compliance with the provisions
of the Ranbaxy Code of Conduct for the financial year ended December 31, 2010.
Arun Sawhney
Managing Director
Gurgaon (Haryana)
February 11, 2011
7. Certificate from Managing Director and Director-Global Accounts
Certificate from Managing Director & Director-Global Accounts of the Company, for the financial year ended
December 31, 2010 has been provided elsewhere in the Annual Report.
8. DISCLOSURES
A. Related Party Transactions
The Company has not entered into any transaction of material nature with the promoters, the Directors or
the management, their subsidiaries or relatives etc. that may have any potential conflict with the interests of
the Company.
41
43. Ranbaxy Laboratories Limited
B. Disclosure of Compliances by the Company
During the last three years, no penalties or strictures have been imposed on the Company by the Stock
Exchanges or SEBI or any other statutory authorities on matters related to capital markets.
C. Disclosure of Accounting Treatment
There have not been any significant changes in the accounting policies during the year.
D. Risk Management
The Company has a procedure to inform the Board about the risk assessment and minimization procedures.
The Board of Directors periodically reviews the risk management framework of the Company.
E. The Company has complied with all the mandatory requirements and has adopted non-mandatory
requirements as per details given below:
(1) The Board
The Company maintains the Office of the Chairman at its Corporate Office at Plot No. 90, Sector 32,
Gurgaon-122001 (Haryana) and also reimburses the expenses incurred in performance of his duties.
There is no fixed tenure for Independent Directors.
(2) Remuneration Committee
The Company has constituted Compensation Committee as detailed in 4(ii) hereinabove. The Chairman
of the Compensation Committee is an independent director and was present at the last Annual General
Meeting.
(3) Shareholders Rights
The quarterly financial results are published in the newspapers as mentioned under the heading “Means
of Communication” at Sl. No. 10 hereinbelow and also displayed on the website of the Company. The
results are not separately circulated to the shareholders.
(4) Audit qualifications
There are no audit qualifications in the Company’s financial statements for the year under reference.
(5) Training of Board Members
No specific training programme was arranged for Board members. However, at the Board/Committee
meetings detailed presentations are made by Professionals, Consultants as well as Senior Executives of the
Company on the business related matters, risk assessment, strategy, effect of the regulatory changes etc.
(6) Mechanism for evaluating Non-Executive Board Members
The Company has not adopted any mechanism for evaluating individual performance of Non-Executive
Directors.
(7) Whistle Blower Policy
The Board of Directors of the Company at its meeting held on November 11, 2010 has approved
Whistle Blower Policy of the Company and issuance of the same is under process. Further, no person has
approached the Audit Committee of the Company during the year.
The Company has also laid down a Code of Conduct for all its employees across the Organisation. The
Code of Conduct of the Company lays down that the employees shall promptly report any concern
or breach and suggests not to hesitate in reporting a violation or raising a policy concern to the Code
Compliance Cell or concerned superior. The Code provides that the Company shall support and protect
employees for doing so.
9. CORPORATE GOVERNANCE VOLUNTARY GUIDELINES
In December 2009, the Ministry of Corporate Affairs had issued the Guidelines on the voluntary adoption of
Corporate Governance Practices. The Company follows the Guidelines such as separation of office of Chairman and
Managing Director, taking certificate of independence from Independent Directors, constitution of Remuneration
Committee which determines remuneration policy, providing timely information to Board of Directors for quality
42
44. Ranbaxy Laboratories Limited
decision making, identification of risks, review of internal controls and constitution and functioning of Audit
Committee. While some of these Guidelines like maximum tenure of independent directors, rotation of audit firm
etc. have not yet became due and the Guidelines on payment of remuneration to Independent Directors would
require amendment to the Companies Act. Further, evaluation of Directors, conducting their training etc. are yet
to be adopted by the Company.
10. MEANS OF COMMUNICATION
(a) The Company regularly intimates unaudited as well as audited financial results to the Stock Exchanges
immediately after these are taken on record by the Board. These financial results are normally published in the
Business Standard/Financial Express, the Punjabi Tribune and are displayed on the website of the Company
www.ranbaxy.com. Further in compliance of Clause 52 of the Listing Agreement, the above information and
other communication sent to Stock Exchanges have also been filed under Corporate Filing Dissemination System
(CFDS) and are available at website www.corpfiling.co.in.
The official news releases and the presentations made to the investors/analysts are also displayed on the
Company’s website.
(b) Management Discussion and Analysis Report forms part of the Report of the Directors.
11. SHAREHOLDER INFORMATION
Annual General Meeting
Date : May 9, 2011
Time : 11.00 A.M.
Venue : The National Institute of Pharmaceutical
Education and Research (NIPER)
Sector-67, S.A.S. Nagar, (Mohali)- 160 062 (Punjab).
No Special resolution is proposed to be passed by Postal ballot at the aforesaid Annual General Meeting.
Financial Calendar -
Adoption of Quarterly Tentative Schedule
Results for the quarter ending
– June 30, 2011 1st week of August 2011
– September 30, 2011 2nd week of November 2011
– December 31, 2011 4th week of February 2012
– March 31, 2012 2nd week of May 2012
Book Closure Dates
April 30, 2011 to May 9, 2011 (both days inclusive)
Dividend Payment Date
May 16, 2011
LISTING ON STOCK EXCHANGES
The Equity Shares of the Company as on December 31, 2010 were listed on the Bombay Stock Exchange Ltd.
and National Stock Exchange of India Ltd. Global Depository Receipts (GDRs) are listed on the Stock Exchange
at Luxembourg. Foreign Currency Convertible Bonds (FCCBs) have been listed with the Singapore Exchange
Securities Trading Limited.
The Company confirms that it has paid annual listing fees due to the Stock Exchanges for the year 2010-2011.
STOCK CODE
1. National Stock Exchange of India Ltd. - Ranbaxy
2. Bombay Stock Exchange Ltd. - 359 (Physical)
500359 (Demat)
43
45. Ranbaxy Laboratories Limited
REGISTRAR AND TRANSFER AGENTS SHARE TRANSFER SYSTEM
M/s. Alankit Assignments Ltd. (Alankit), 2E/8, With a view to expedite the process of share transfers,
1st Floor, Jhandewalan Extension, New Delhi-110 055 the Board of Directors of the Company has delegated
is the Registrar and Share Transfer Agent for physical the power of share transfer to some of the Directors with
shares of the Company. Alankit is also the depository appropriate individual limits. The delegated Director(s)
interface of the Company with both National Securities attend(s) to the share transfer formalities once in a
Depository Ltd. (NSDL) and Central Depository Services fortnight. The shares for transfers received in physical form
(India) Ltd. (CDSL). are transferred expeditiously, provided the documents
are complete and the shares under transfer are not under
However, keeping in view the convenience of any dispute. The share certificates duly endorsed are
shareholders, documents relating to shares will continue returned immediately to shareholders. Confirmation in
to be received by the Company at Corporate Office of respect of the requests for dematerialisation of shares is
the Company at Plot No. 90, Sector 32, Gurgaon-122001 sent to the respective depositories i.e. NSDL and CDSL
(Haryana) Tel No. 91-124-4135000, the Company’s expeditiously.
Registered Office at A- 41, Industrial Area Phase
DEMATERIALISATION OF SHARES
VIII-A, Sahibzada Ajit Singh Nagar (Mohali) – 160 071
(Punjab), Tel. No. 91-172-5013655 and Head Office The shares of the Company are in compulsory demat
at 12th Floor, Devika Tower, 6, Nehru Place, New segment and are available for trading in the depository
Delhi-110019, Tel. No. 91-11-26237508; email address: systems of both NSDL and CDSL. As on December
secretarial@ranbaxy.com. 31, 2010, 413,876,401 Equity Shares of the Company,
forming 98.30 % of the Share Capital of the Company,
Market Price Data (Rs.) stand dematerialised.
Month Bombay Stock National Stock International Securities Identification Number -
Exchange Exchange INE015A01028 (with NSDL and CDSL)
(BSE) (NSE)
Shareholding Pattern as on December 31, 2010
High Low High Low
January 2010 533.50 432.35 533.40 432.00 Category No. of Percentage of
Shares held Shareholding
February 2010 476.00 395.10 478.00 394.00
(%)
March 2010 491.60 450.00 490.85 426.40 Promoters-Daiichi Sankyo
April 2010 485.00 432.70 485.50 431.70 Company, Ltd., Japan 268,711,323 63.82
May 2010 469.50 364.20 494.40 403.15 Mutual Funds & UTI 10,407,611 2.47
June 2010 463.00 414.35 463.50 413.50 Insurance Companies 38,348,545 9.11
July 2010 467.95 441.10 467.90 441.00 FIIs 34,647,539 8.23
August 2010 500.60 434.55 500.70 434.25 Banks & Financial
Institutions 1,266,269 0.30
September 2010 579.90 490.00 580.00 489.35
Bodies Corporate 12,577,064 2.99
October 2010 620.55 560.00 616.90 556.35 Public shareholding 48,750,123 11.58
November 2010 624.90 530.50 624.20 530.05 GDRs 6,332,219 1.50
December 2010 599.75 534.00 600.00 532.85 Grand Total 421,040,693 100.00
44
46. Ranbaxy Laboratories Limited
Distribution of Shareholding as on December Plant Locations of the Company
31, 2010
1. A-8-11,
From - To No. of No. of Shares Industrial Area Phase- III,
Shareholders Sahibzada Ajit Singh Nagar
Number of Number % Number % (Mohali) -160 055 (Punjab)
shares Total Total 2. Village Toansa, P.O. Railmajra
1 - 1000 166,502 94.10 18,296,578 4.35 Distt. Nawansahar - 144533 (Punjab)
1001 - 2000 5,540 3.13 7,958,146 1.89 3. A-41, Industrial Area Phase VIII-A
2001 - 4000 2,920 1.65 8,164,600 1.94 Sahibzada Ajit Singh Nagar
4001 - 6000 855 0.48 4,185,964 0.99 (Mohali) – 160 071 (Punjab)
6001 - 8000 344 0.20 2,388,633 0.57 4. Industrial Area 3
8001 - 10000 193 0.11 1,747,040 0.42 A.B. Road, Dewas-450 001,
10001 - 20000 298 0.17 4,062,348 0.96 Madhya Pradesh
20001& above 286 0.16 374,237,384 88.88 5. Village & PO Ganguwala
Total 176,938 100.00 421,040,693 100.00 Tehsil Paonta Sahib 173 025,
Distt. Sirmour (H.P.)
Liquidity of Shares
6. Village Batamandi
The Equity Shares of the Company have been included Tehsil Paonta Sahib-173 025
in the Sensex of the leading Stock Exchanges. Distt. Sirmour (H.P.)
Outstanding Stock Options 7. E-47/9, Okhla Industrial Area
Number of Stock Options outstanding - 7,401,143* Phase-II, Okhla,
as on December 31, 2010 New Delhi-110 020
* Options granted upto October 3, 2002 are entitled for 8. Plot No. B-2
additional shares on a proportionate basis in view of Madkaim Industrial Estate,
issue of bonus shares by the Company in the ratio of 3 Ponda, Goa
for 5 in October 2002. 9 K-5, 6,7, Ghirongi
The Company had raised US$440,000,000 in the year Malanpur
2006 through Zero Coupon Convertible Bonds. The Dist. Bhind-477 116, (M.P.)
Bonds are convertible any time on or after April 27, 10. Plot No. 1341 & 1342
2006 upto March 8, 2011 by the holders into fully paid EPIP-1, Hill Top Industrial Area,
Equity Shares of Rs.5 each of the Company, which may Village-Bhatolikalan (Barotiwala)
subject to certain conditions, be represented by Global Baddi - 174103 (H.P)
Depository Shares (GDS) with each GDS representing
one share at a conversion price of Rs.716.32 per share, Address for Correspondence
which is subject to adjustment in certain circumstances. Shareholders are requested to contact –
In case if the Bonds are not converted into shares, the Mr. S.K. Patawari
Company will redeem each Bond at 126.765% of its Company Secretary
principal amount on the maturity date i.e. March 18, Ranbaxy Laboratories Ltd.
2011. Plot No. 90, Sector 32, Gurgaon-122001
Haryana
6,332,219 GDRs representing 6,332,219 Equity Shares Tel.No. 91-124-4185888, 4135000
of Rs.5 each constituting 1.50% of the issued, subscribed Fax No.91-124-4106490
and paid-up share capital of the Company, were Email address: secretarial@ranbaxy.com
outstanding as on December 31, 2010.
45
47. Ranbaxy Laboratories Limited
Certificate
To the Members of
Ranbaxy Laboratories Limited
We have examined the compliance of conditions of Corporate Governance by Ranbaxy Laboratories Limited
(the Company) for the year ended on 31 December, 2010, as stipulated in Clause 49 of the Listing Agreement of the
Company with stock exchanges.
The compliance of conditions of Corporate Governance is the responsibility of the management. Our examination
was limited to procedures and implementation thereof, adopted by the Company, for ensuring the compliance of the
conditions of Corporate Governance. It is neither an audit nor an expression of opinion on the financial statements
of the Company.
In our opinion and to the best of our information and according to the explanations given to us, we certify that the
Company has complied with the conditions of Corporate Governance as stipulated in the abovementioned Listing
Agreement.
We further state that such compliance is neither an assurance as to the future viability of the Company nor the efficiency
or effectiveness with which the management has conducted the affairs of the Company.
For B S R & Co.
Chartered Accountants
Registration No.: 101248W
Vikram Aggarwal
Place : Gurgaon Partner
Dated : 22 February, 2011 Membership No.: 089826
46
48. Certificate from
MANAGING DIRECTOR AND
Ranbaxy Laboratories Limited
DIRECTOR-GLOBAL ACCOUNTS
To the Board of Directors of Ranbaxy Laboratories Ltd.
We, Arun Sawhney, Managing Director and Ranjit Kohli, Director-Global Accounts certify that :
(a) We have reviewed financial statements and the cash flow statement for the year ended December 31, 2010 and that
to the best of our knowledge and belief :
(i) these statements do not contain any materially untrue statement or omit any material fact or contain statements
that might be misleading;
(ii) these statements together present a true and fair view of the Company’s affairs and are in compliance with
existing Accounting Standards, applicable laws and regulations.
(b) There are, to the best of our knowledge and belief, no transactions entered into by the Company during the year
which are fraudulent, illegal or violative of the Company’s Code of Conduct.
(c) We accept responsibility for establishing and maintaining internal controls for financial reporting and have evaluated
the effectiveness of internal control systems of the Company pertaining to financial reporting and we have disclosed
to the auditors and the Audit Committee, deficiencies in the design or operation of such internal controls, if any,
of which we are aware and the steps we have taken or propose to take to rectify these deficiencies.
(d) We have indicated to the Auditors and the Audit Committee that -
(i) there has not been any significant changes in internal control over financial reporting during the year under
reference;
(ii) there has not been any significant changes in accounting policies during the year requiring disclosure in the
notes to the financial statements; and
(iii) there has not been any instances during the year of significant fraud of which we had become aware and the
involvement therein, if any, of the management or an employee having a significant role in the Company’s
internal control system over financial reporting.
Arun Sawhney Ranjit Kohli
Managing Director Director-Global Accounts
Place : Gurgaon
Date : February 22, 2011
47
49. BOARD of
Directors Ranbaxy Laboratories Limited
Dr. Tsutomu Une
Chairman
Mr. Takashi Shoda
Dr. Anthony H. Wild
Mr. Akihiro Watanabe
Mr. Percy K. Shroff
Mr. Rajesh V. Shah
Mr. Arun Sawhney
Managing Director
COMPANY SECRETARY
Mr. S. K. Patawari
REGIONAL HEADQUARTERS
Gurgaon [India], London [UK], Johannesburg [South Africa]
New Jersey [USA], Sao Paulo [Brazil]
MARKETING OFFICES
Douala [Cameroon], Kiev [Ukraine], Moscow [Russia], Ho Chi Minh City [Vietnam], Kaunas [ Lithuania]
Nairobi [Kenya], Abidjan [Ivory Coast], Yangon [Myanmar], Beijing [China], Almaty [Kazakhstan]
Dubai [UAE], Harare [Zimbabwe], Casablanca [Morocco], Sofia [Bulgaria]
STATUTORY AUDITORS
BSR & Co., Building No. 10, 8th Floor, Tower-B, DLF Cyber City, Phase – II, Gurgaon – 122002, Haryana [India]
BANKERS
Credit Agricole CIB, Royal Bank of Scotland NV, Citibank NA, Deutsche Bank AG
Hong Kong & Shanghai Banking Corporation, Punjab National Bank, Standard Chartered Bank
REGISTERED OFFICE
A-41, Industrial Area Phase-VIII-A, Sahibzada Ajit Singh Nagar [Mohali] - 160 071, Punjab [India]
Ph : [91-172] 5013655. Fax : [91-172] 5013376
CORPORATE OFFICE
Plot No. 90, Sector 32, Gurgaon – 122 001, Haryana [India]
Ph : [91-124] 4135000. Fax : [91-124] 4135001
HEAD OFFICE
12th Floor, Devika Tower, 6, Nehru Place, New Delhi – 110 019 [India]
Ph : [91-11] 26237508. Fax : [91-11] 26225987
48
50. Report of the
Directors Ranbaxy Laboratories Limited
Your Directors have pleasure in presenting the 50th Annual Report and Audited Accounts for the year ended
December 31, 2010.
STANDALONE Working RESULTS UNDER INDIAN GAAP
Rs. in Million
Year ended Year ended
December 31, December 31,
2010 2009
Net Sales 52,667.09 45,359.09
Expenditure 51,086.39 43,255.83
Profit Before Tax 15,652.45 10,619.17
Tax charge 4,165.19 4,899.33
Profit After Tax 11,487.26 5,719.84
Balance as per last Balance Sheet (2,532.23) (8,265.83)
Transfer from Foreign Projects Reserve 4.59 13.76
Profit available for Appropriation 8,959.62 (2,532.23)
Appropriations:
Proposed Dividend 842.08 –
Tax on Proposed Dividend 139.86 –
Transfer to General Reserve 1,149.00 –
Surplus/(Deficit) carried forward 6,828.68 (2,532.23)
CONSOLIDATED WORKING RESULTS UNDER INDIAN GAAP
Net Sales 85,506.73 73,441.32
Expenditure 77,101.95 72,232.55
Profit Before Tax 23,217.21 10,097.62
Tax Charge 5,848.76 6,990.87
Profit After Tax 17,368.45 3,106.75
Share in Loss of Associates(Net) (59.15) (32.38)
Provision for diminution in the value of long term investment in 2,216.20 –
associates
Minority Interest (125.59) (109.45)
Profit For The Year 14,967.51 2,964.92
Balance as per last Balance Sheet (1,031.24) (4,009.92)
Transfer from Foreign Projects Reserve 4.59 13.76
Profit Available for Appropriation 13,940.86 (1031.24)
Proposed Dividend 842.08 –
Tax on Proposed Dividend 139.86 –
Transfer to General Reserve 1,149.00 –
Surplus/(Deficit) Carried Forward 11,809.92 (1031.24)
CONSOLIDATED FINANCIAL STATEMENTS
Consolidated Financial Statements for the year ended December 31, 2010, under Indian GAAP form part of the
Annual Report.
OPERATIONS
The Company recorded consolidated sales of Rs. 85,507 millions against Rs.73,441 millions in the previous year,
registering a growth of 16 %. The growth in turnover was higher than the net growth registered by the Pharma industry
in previous year. Profit Before Tax stood at Rs. 23,217.21 millions against Rs. 10,097.62 millions for the previous year
49
51. Ranbaxy Laboratories Limited
registering a growth of 130%. Profit after tax and provision for diminution in value of investments in associates and
minority interest stood at Rs.14,967.51 millions against Rs.2,964.92 millions for the previous year. Higher profits in the
year are primarily on account of improved gross margin levels due to changes in product mix, revenues from First to
File products in the US market, cost optimization and favorable forex movement. Continued focus of the Company on
cost optimization and efficient working capital management is reflected in the strong growth in the operating profit.
As the Company and Daiichi Sankyo Company, Ltd. (DS), its holding Company, evolve in their pursuit of the Hybrid
Business Model to leverage their mutual strengths, many opportunities in the front and back-end become available.
The Company is working on various such initiatives.
The Company is continuously making sincere efforts for an early resolution of the issues raised by USFDA and the
Department of Justice, USA and is fully co-operating with the concerned authorities.
DIVIDEND
Your Directors recommend a dividend of Rs. 2.00 per share of par value of Rs. 5/- each for the year ended
December 31, 2010.
CHANGES IN CAPITAL STRUCTURE
Allotment of shares on exercise of Employees’ Stock Options
During the year, the Company allotted Equity Shares (on pari-passu basis) pursuant to exercise of Stock Options by the
eligible employees, as summarized below:
Date of Allotment No. of Shares
January 13, 2010 105,888
April 13, 2010 144,956
July 12, 2010 85,955
October 8, 2010 286,536
SUBSIDIARIES AND JOINT VENTURES
In view of the business model of the Company in Japan, Ranbaxy Japan K.K., a wholly owned subsidiary of the
Company has been liquidated. Further, during the year, two non–operating wholly owned subsidiaries viz. Lapharma
GmbH at Germany and Ranbaxy N.A.N.V, at Antilles, (The Netherlands) were also liquidated.
With a view to create a sustainable business base in North Africa, the Company has set up a wholly owned subsidiary
in Morocco under the name of Ranbaxy Morocco LLC.
A statement pursuant to section 212 of the Companies Act, 1956, relating to subsidiary companies is attached to the
accounts. In terms of the approval granted by the Central Government vide letter No. 47/718/2010–CL–III dated
December 28, 2010 under Section 212(8) of the Companies Act, 1956, the audited accounts and Reports of Board of
Directors and Auditors of the Company’s subsidiaries have not been annexed to this Annual Report. The consolidated
financial statements prepared in accordance with Accounting Standard – 21 issued by the Institute of Chartered
Accountants of India presented in this Annual Report include the financial information of the subsidiary companies.
MANAGEMENT DISCUSSION AND ANALYSIS REPORT
Management Discussion and Analysis Report, as required under the Listing Agreements with the Stock Exchanges, is
enclosed at Annexure ‘A’.
EMPLOYEES’ STOCK OPTION SCHEME
Information regarding the Employees’ Stock Option Schemes is enclosed at Annexure ‘B’.
LISTING AT STOCK EXCHANGE
The Equity Shares of the Company continue to be listed on Bombay Stock Exchange Ltd. and The National Stock
Exchange of India Ltd. Global Depository Shares are listed on the Stock Exchange at Luxembourg and Foreign
Currency Convertible Bonds are listed on the Singapore Exchange Securities Trading Ltd. The annual listing fees for
the year 2010–2011 have been paid to these Exchanges.
50
52. Ranbaxy Laboratories Limited
DISCLOSURE OF PARTICULARS
As required by the Companies (Disclosure of Particulars in the Report of Board of Directors) Rules, 1988, the relevant
information and data is given at Annexure ‘C’.
FIXED DEPOSITS
The Company has not invited / received any fixed deposits during the year.
DIRECTORS’ RESPONSIBILITY STATEMENT
In terms of provisions of Section 217(2AA) of the Companies Act, 1956, (“Act”), your Directors confirm that:
(i) In the preparation of the annual accounts, the applicable accounting standards have been followed, alongwith
proper explanation relating to material departures, wherever applicable.
(ii) The Directors have selected such accounting policies and applied them consistently and made judgments and
estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company,
as at the end of the accounting year and of the profit of the Company for the year.
(iii) The Directors have taken proper and sufficient care for the maintenance of adequate accounting records in
accordance with the provisions of this Act for safeguarding the assets of the Company and for preventing and
detecting fraud and other irregularities.
(iv) The Directors have prepared the annual accounts on a going concern basis.
DIRECTORS
Mr. Atul Sobti stepped down as CEO & Managing Director of the Company effective August 19, 2010. The Director
placed on record their appreciation for valuable contribution made by Mr.Sobti during his tenure with the Company.
Mr. Arun Sawhney was appointed as Additional Director of the Company and holds office upto the date of the ensuing
Annual General Meeting. The Company has received Notice alongwith requisite deposit from a member under Section
257 of the Companies Act, 1956, proposing the candidature of Mr. Arun Sawhney as a Director of the Company.
Mr. Sawhney was also appointed as Managing Director of the Company effective August 20, 2010 for a period of
three years. Approval of the shareholders is being sought at the ensuing Annual General Meeting for appointment of
Mr. Sawhney as the Managing Director of the Company for a period of three years and payment of remuneration
to him. Mr. Sawhney being the Managing Director will not be liable to retire by rotation in terms of the Articles of
Association of the Company.
Dr. Anthony H. Wild and Mr. Akihiro Watanabe who were appointed as Directors of the Company in the casual
vacancies caused by resignation of Dr. Brian W. Tempest and Mr. Surendra Daulet-Singh respectively hold office upto
the date of the ensuing Annual General Meeting. The Company has received Notices alongwith requisite deposit from
members under Section 257 of the Companies Act, 1956 proposing the candidatures of Dr. Anthony H. Wild and Mr.
Akihiro Watanabe as Directors of the Company.
CORPORATE GOVERNANCE
Report on Corporate Governance alongwith the Certificate of the Auditors, M/s. B S R & Co. confirming compliance
of conditions of Corporate Governance as stipulated under Clause 49 of the Listing Agreement with the stock
exchanges forms part of the Annual Report.
COST AUDIT
The reports of M/s. R.J. Goel & Co., Cost Accountants, in respect of audit of the cost accounts relating to formulations
and bulk drugs for the year ended December 31, 2010, will be submitted to the Central Government in due course.
AUDITORS
M/s. B S R & Co., Chartered Accountants, retire as Auditors of the Company at the conclusion of ensuing Annual
General Meeting and have confirmed their eligibility and willingness to accept the office of the Auditors, if re-appointed.
STATEMENT OF EMPLOYEES
Statement of particulars of employees as required under Section 217(2A) of the Companies Act, 1956 (“Act”) and
Rules framed thereunder forms part of this Report. However, in terms of the provisions of Section 219(1) (b) (iv) of
51
53. Ranbaxy Laboratories Limited
the Act, this Report and Accounts are being sent to all the shareholders excluding the Statement of particulars of
employees under Section 217(2A) of the Act. Any shareholder interested in obtaining a copy of the statement may
write to the Company Secretary at the Corporate Office of the Company.
ACKNOWLEDGEMENTS
The Directors hereby wish to place on record their appreciation of the significant contribution made by each and every
employee of the Company. The Directors also thank all other stakeholders for their support and encouragement. Your
Directors look forward to your continued support in the years to come.
On behalf of the Board of Directors
Gurgaon Dr. Tsutomu Une
February 22, 2011 Chairman
52
54. Ranbaxy Laboratories Limited
ANNEXURE A
MANAGEMENT DISCUSSION AND ANALYSIS REPORT
INDUSTRY STRUCTURE & DEVELOPMENTS
The Global Pharmaceutical market sales for 2010 is expected to be around $840-850 Bn* which reflects a growth of
4-5%. On a consolidated basis, the market is expected to grow at a CAGR of 4-7% to cross $1 Tn in sales by 2014.
More than half of this increase (53%) in the Pharmaceutical market is expected to be contributed by the Pharmerging**
markets forecasted to grow at 14-17%, while the rest is expected to come from the Developed*** markets which are
forecasted to grow at a CAGR of 2-5%.
For 2011, IMS forecasts value of the Pharmaceuticals market between $880-890 Bn with a growth rate of between
5-7%. The Pharmaceutical sales in the United States of America is expected to be in the range of $320-330 Bn, with
a growth rate of between 3-5% which will continue to be the single largest market in the world with ~37% share. Sales
in Japan, the second largest Pharma market are expected to be in the range of $90-100 Bn reflecting a growth of 5-7%.
Top 5 European markets are expected to have sales in the range of $135-145 Bn, growth of 1-3%. Pharma sales in the
Pharmerging markets amounted to $170-180 Bn with a 15-17% growth.
The industry continues to remain highly fragmented and fiercely competitive especially due to increased genericisation.
The Generics industry is at a critical point as it has the opportunity to capitalize on the products going off patent, in the
short term, and, will thereafter face drying up of the First to File (FTF) Opportunities in the coming years. As a part
response to cope with the challenges effectively, the industry has witnessed consolidation; this may be replicated across
the Global Pharma and Generics industry.
Mature markets contribute to ~56% of the world Generics market currently, which is expected to go down to 50% by
2020 per IMS. Here too, the Pharmerging markets will grow at a significantly higher rate than the rest of the world;
specifically by 2020, it is estimated that half of the Generics market will be between China, India and the United Stated
of America.
Generics
The Generics segment of the Global Pharmaceutical market contributed $126 Bn, with a growth of 11% during 2010;
this is twice the growth of the total Pharmaceuticals industry. Generics volume share in the world Pharma market also
increased to ~50%. This trend is visible not only in the Developing markets but also in the Mature markets; volume
contribution from the USA and Top 5 Europe markets crossed the half line mark. The market has expanded due to
the increase in genericisation ($170 Bn drugs going off patent by 2015), healthcare cost containment by governments/
payers and relatively low penetration in some major geographies etc.
Contribution from the Pharmerging markets has gone up with China, India, Brazil, Turkey and Russia leading the way
from contributing 19% in 2004, to contributing 33% to the Generics industry in 2010.
The United States of America: The prescription sales of branded products continued to decline during the year,
while a recovery was seen in value terms. As with the Global Pharma market, the USA is the largest constituent of
Generics, with 30% market share in 2010. Growth in the Generics in the country was ahead of Pharma growth for the
country at ~9% (CAGR) since 2005. For the next few years, the USA will continue to be one of the most important
market for Generic Companies.
Europe: The major European markets contribute to 25% by value to the worldwide Generics industry and have
grown at ~9% (CAGR) (2005-09) as compared to low single digit growth for the Total Pharma industry. The Generics
53
55. Ranbaxy Laboratories Limited
market growth is forecasted to slow down to 4% CAGR for 2009-14. Europe is evolving in a manner that it should now
be studied in terms of different clusters: one way is to look at the West and East Europe markets separately another is
to view some of the markets where INN-Generic penetration is high versus some, where branded Generics continue
to be patronized.
India: The Indian pharmaceutical market (IPM) grew at ~18% to $10 Bn in 2010. This reflects a robust CAGR of 15%
for 2004-10 period. The IPM is forecasted to continue to grow at 15-17% in the next 5 years. The key reasons for the
growth are (i) faster economic growth with Gross Domestic Product growth at over 8%, (ii) increase in healthcare access
due to government and private efforts and (iii) increase in penetration to smaller towns. Apart from the macro-factors,
growth in the IPM was primarily driven by volume ~60% and new introductions ~40% with minimal price increases.
Large products continued to become larger with the cut-off for top 300 products now at $5.5 Mn instead of $3.5 Mn.
OUTLOOK ON OPPORTUNITIES
The Global Generics industry has grown at 11% CAGR (2007-10) 2 times the growth of Global Pharma and is
expected to continue on its growth path aided by multiple factors including (a) Opportunity of $170 Bn drugs going
off patent by 2015. (b) Increasing burden of healthcare in developed markets, especially during difficult economic
times. Countries such as the USA are front runners in this field, others such as the United Kingdom and Germany are
following suit. (c) Despite all the focus on Generics, some of the major markets still have low penetration levels. These
include parts of Europe and Japan. (d) Increasing access of Healthcare in developing economies and (e) Increasing
competition in the industry and consolidation.
With ground presence in 46 countries that cover developed and emerging markets, multiple exclusive FTF opportunities
in the United States from among the world’s top selling drugs, Ranbaxy is well placed to benefit from this growth.
To capitalize on the Hybrid Business Model pioneered by Ranbaxy and Daiichi Sankyo, both the companies are working
together for mutual benefit. On the front end, Ranbaxy continues to engage in promoting DS’s innovator products
in global markets including Romania, India and some African countries. On the back end, in FY 2010 approval was
received from Department for Scientific and Industrial Research (DSIR) to transfer New Drug Discovery Research
assets to Daiichi Sankyo India Pharma Pvt. Ltd. Further, Ranbaxy has also begun to collaborate in development
and supply of new chemical compounds to Daiichi Sankyo. Many other front-end and back-end opportunities were
explored during the year.
The United States of America: The USA, with half the world’s Pharmaceuticals market and the largest Generics
market is vital to the growth of Ranbaxy. For the first time, Ranbaxy USA crossed $0.5 Bn mark to close the year with
sales of $0.6 Bn. The successful monetization of Valacyclovir (launched in November 2009), and launch of Donepezil
(November 2010) reassures management’s focus on this important market. Ranbaxy has also posted healthy growth in
the USA business excluding FTF.
As of December 31, 2010, the Company had 205 ANDAs filed with the USFDA, of which 135 have been approved.
Market size at innovator prices, of the pipeline of the Company’s pending ANDAs, is ~$41 Bn. Of these, Ranbaxy
believes that it has a Paragraph-IV / First to File Status (FTF) on 7 applications.
Europe: The Europe market is increasingly showing a marked difference between the countries that have gone the
tender-way and others. This brings to fore buyer power in countries such as Germany, and, to a lesser extent the United
Kingdom. Similarly, regionally too, Western Europe and Eastern Europe have different business models. Although
Ranbaxy has been impacted by the above-mentioned changes in the region, it has been nimble in adjusting to the
ongoing changes.
54
56. Ranbaxy Laboratories Limited
With respect to Romania, where Terapia Ranbaxy has faced liquidity crunch in the earlier years due to change in
regulations etc., it has been able to tide through the difficulties and is in a stronger position today. Furthering Ranbaxy’s
presence in the region, Terapia Ranbaxy will cater to a larger portion of the manufacturing requirement for Europe
and the CIS.
India: Subsequent to the growth witnessed by the IPM, per IMS, it is now the 3rd largest Generics Pharma market
in the world.
Key reasons for this growth are the strong economic growth, healthcare infrastructure expansion, rising incidence
of chronic diseases and increase in healthcare access in the extra urban and rural markets. Project “Viraat” was
conceptualized to accelerate Ranbaxy’s growth in the IPM and participate in its growth momentum. “Viraat” is an
all encompassing strategy that covers augmenting field force, increasing coverage to the hitherto inadequately catered
to markets, including therapies and increase in number of launches. The initiative should start to bear fruit in 2011.
Emerging countries: Ranbaxy has a strong presence in the Emerging markets, with 50% of total sales coming
from the segment. The Company reaches out to countries in the Asia-Pacific, Africas, the CIS, LATAM etc. that are
generally not as well covered by the Innovator Companies, and gives Ranbaxy an opportunity to enter the market
with its ‘Branded Generics’ portfolio. Ranbaxy is a one of the largest players in world Generics Pharma space, with
its understanding of the market specific requirements such as manufacturing practices, marketing expertise and
regulations etc; and the associated risks and rewards for mature as well as the Emerging markets. It is this mix of
geographies that also work as a natural hedge for the Company’s business. This is an opportunity for Ranbaxy, which
is well placed in the Pharmerging markets, to benefit from this phase of growth in the industry.
OUTLOOK ON THREATS, RISKS AND CONCERNS
Other than the risks faced by the Pharmaceuticals industry at large, the global Generics business faces risk associated
with patent litigation, regulatory issues and product liability, especially in developed markets. Further, Innovator
pharmaceutical companies also continuously work on developing new ways to enhance lifecycle of their patented
drugs to delay entry of generic versions. As more and more drugs go off-patent, the Generics space is also becoming
more competitive not just in the Developed world, but also in the Emerging countries.
Manufacture of pharmaceuticals is strictly regulated and controlled by authorities across the world. Should Ranbaxy,
or its third party suppliers fail to fully comply with such regulations, there could be a government-enforced shutdown
of concerned production facilities, revocation of drug approvals previously granted, failure or delay in obtaining
approvals for new products, product recalls of existing drugs sold in the market, prohibition on the sale or import of
non-complying products.
Regulators across the world have become stricter, in respect of compliance to requirements with even more severe
consequences for non-compliance.
On its part, Ranbaxy is working with the United States Food & Drug Administration (USFDA) which has invoked its
Application Integrity Policy (“AIP”) against the Paonta Sahib manufacturing facility. The Company also faces challenges
of import alert and warning letters from the USFDA for certain alleged cGMP violations. The Company continues to
co-operate fully with the USFDA and the Department of Justice towards a comprehensive resolution.
In the Indian pharmaceuticals market, prices of certain pharmaceutical products is regulated by the Drug Pricing
Policy through the Drug Pricing Control Order, 1995 (DPCO). Ranbaxy has some pending legal cases and in all the
matters the Company has been granted orders from the respective Courts in its favor so far.
Over three-fourths of Ranbaxy’s turnover comes from Overseas. Thus, sharp movements in foreign exchange rates can
have a significant impact on the Company’s financial results.
The above-mentioned issues are being provided as disclosure in relation to the matters by explaining the position.
55
57. Ranbaxy Laboratories Limited
SEGMENT-WISE PERFORMANCE
The Company recorded global sales of $1,868 Mn in 2010, a 20% growth at constant foreign exchange rate over the
preceding year. Emerging markets contributed 50%, while Developed markets, helped by higher sales due to the First
to File opportunity, contributed 44% to total sales. Dosage form sales accounted for 94% of sales.
INTERNAL CONTROL SYSTEMS AND ADEQUACY
There are documented and well established operating procedures in the Company and its subsidiaries in India and
overseas. These provide direction and management control to safeguard the Company’s interest apart from serving the
purpose of adequate compliance commensurate to the size and complexity of Ranbaxy’s business.
With regular periodicity, the findings and recommendations of the Internal Audit Team are shared with the Managing
Director and the Audit Committee in the form of Internal Audit Reports/ Comments.
FINANCIAL PERFORMANCE
During the year, the Company recorded consolidated global sales of Rs.85,507 Mn ($ 1,868 Mn), a growth of 16% in
rupee terms. Operating margins improved when compared with previous year on account of higher overall sales, close
management of cost, capitalizing on the FTF Opportunities and foreign exchange earnings. Earnings before tax, share
in loss of / diminution in the value of investments in associates and minority interest were Rs. 23,217 Mn ($507 Mn)
and Earnings after tax were Rs. 14,968 Mn ($327 Mn).
HUMAN RESOURCES
Human capital is our most valuable asset; we promote a work culture, which facilitates entrepreneurship and innovative
thinking by challenging individual potential and rewarding achievements.
Our structured developmental intervention provides the platform for individuals to perform to their full potential. We
continue our endeavor to celebrate success at all platforms from local to Global level so as to recognize exceptional
performance across the globe.
As an overall philosophy we are driving the process of global harmonization of our HR policies and processes for the
benefit of our people. Benchmarking surveys at global level enable us to stand strong against market parameters of
pay and reward. There is a strong pay and performance linkage to ensure employees are motivated to work harder and
contribute to the overall performance of the organization.
The total number of employees of the Company and its subsidiaries as on December 31, 2010 stood at 13,420.
CAUTIONARY STATEMENT
Statements in the “Management Discussion and Analysis” describing the Company’s objectives, estimates, expectations
or projections may be “forward looking statements” within the meaning of applicable laws and regulations. Actual
results could differ materially from those expressed or implied. Important factors that could make a difference to the
Company’s operations include Government regulations, patent laws, tax regimes, economic developments within India
and countries in which the Company conducts business, litigation and other allied factors.
* Source IMS Global Pharmaceutical Market Forecast: October 2010
** Pharmerging markets: China, Brazil, Russia, India, Mexico, Turkey, Venezuela, Poland, Argentina, Thailand, Romania, Indonesia,
South Africa, Egypt, Ukraine, Pakistan and Vietnam
*** Developed markets: US, Japan, UK, Spain, Germany, France, Italy and Canada
56