Search the Internet          Tips  Sites: Finance, Investment

Ranbaxy shifts Asia-Pacific base to Singapore

Shweta Rajpal Kohli in New Delhi

Ranbaxy Laboratories, India's largest pharmaceutical company, has moved its regional office for Asia-Pacific, Latin America and Canada from New Delhi to Singapore.

"Geographically, it makes strategic sense for this region to be serviced out of Singapore," a Ranbaxy spokesperson said. "The move is in line with the goal of turning Ranbaxy into a true international pharmaceutical company and will ensure better contact with these (around Singapore) markets. The contribution of the region to global sales is also growing and markets like China and Japan look extremely promising," he said.

Vinod Dhawan, who heads the region, has already shifted to Singapore along with his team. Last year, the contribution of this region to the company's global sales was around 23 per cent. Ranbaxy officials say the move had been in the offing for many months.

They added that it would lead to greater operational efficiencies and fortify the company's presence in the Asia-Pacific region. The back-up office and support functions for these markets, however, will continue to be in New Delhi.

Industry sources say that after moving the regional office to Singapore, the company may consider shifting the Canada market to the US region, instead of it being handled out of Singapore. The India and West Asia region of the company is looked after by the New Delhi office.

While Sanjiv D Kaul heads the India region, West Asia is looked after by Atul Malhotra, who also heads the company's consumer healthcare division.

Malvinder Mohan Singh, director (global licensing) and the eldest son of the late Parvinder Singh, will take over from Sanjiv D Kaul as the India region head from January 1, 2003.

The company has just completed a restructuring of its India operations. The regional office for Europe, CIS and Africa is based in London and the regional director is Peter Burema. The regional office, United States region, headed by Dipak Chattraj, is based in Princeton, New Jersey.

Sources close to the company say that the company may also shift its headquarters from Nehru Place, New Delhi, to Gurgaon soon. "The company is in the process of resolving the land dispute in Gurgaon and should be able to move there soon," a source said.

Powered by

ALSO READ:
More Money Headlines