Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: ARTICLES ON INPUT TAX CREDIT IN VAT :: TDS :: VAT Audit :: empanelment :: form 3cd :: due date for vat payment :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARD :: VAT RATES :: TAX RATES - GOODS TAXABLE @ 4% :: cpt :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARDS :: list of goods taxed at 4% :: articles on VAT and GST in India
 
 
Mergers and Acquisitions »
 ECRI Institute Jumpstarts Savings for Hospitals During Mergers and Acquisitions
 Swiss mergers and acquisitions thrived in 2016
 Mergers and acquisitions: No need to regulate the non-compete fee
 Sebi tightens rules for mergers & acquisitions among unlisted firms
 The 4 Biggest Trends In Mergers And Acquisitions For 2017
 How to keep calm and carry on during mergers and acquisitions
 Mergers & Acquisitions Advisory Global Market Briefing 2017
 Here Are the 5 Biggest M&A Deals of 2016
 Tech Company Mergers and Acquisitions of 2016
 Why businesses should pursue strategies with mergers and acquisitions, not just transactions
 Mergers and acquisitions deal value hits 5 year high at $61.44 billion in 2016

Top executive in Ranbaxy merger and acquisitions team resigns
May, 09th 2011

A top executive of Ranbaxy Laboratories' merger and acquisitions (M&A) team has quit, a development that insiders say reflects a change in strategy of the country's largest drug manufacturer, once known for its aggressive buyouts, to focus on organic growth.

The number two man in the dozen-odd member team, Sandeep Juneja , director (M&A) and Investor Relations, has just put in his papers, several persons familiar with the matter said. Earlier in November last year, Anil Khandelwal, head and director (M&A), had also left the organisation.

"The M&A activity in the firm has considerably slowed down and that explains the exits," a person familiar with the development said. The Ranbaxy spokesman said: "The company has significant depth of management and is adequately staffed to take care of any M&A opportunity that may arise."

Ranbaxy was most aggressive in buying firms during 2006 and 2007 under former promoters Malvinder and Shivinder Singh. In 2006 alone, it bought five companies overseas, Italy's AllenSpA, Terapia of Romania, Ethimed of Belgium, Spain's Mundogen and Be-Tabs Pharmaceuticals of South Africa.

Ranbaxy also picked up significant minority equity stake in several niche Indian drug manufacturers such as Zenotech Laboratories , Orchid Chemicals, Jupiter Bioscience and Krebs Biochemicals to foray into specialised therapeutic segments. Analysts say after Japan's Daiichi Sankyo took over the firm, it was but natural to expect the overseas acquisition drive to moderate. But Ranbaxy also scaled back its domestic deals.

In the last three years, the Gurgaon-based company bought just one firm, a small Bangalore-based biotech company Biovel Lifesciences for around Rs 50 crore.

Two persons close to the development said the company remains open to acquisitions but valuations of pharma firms are unreasonably high. "Ranbaxy has presence in all the key markets and therapeutic areas and it does not make sense to buy a firm for the sake of growing the top line," one of them said.

The second executive said all significant deals in India in the recent past involved an international buyer and other local drugmakers have not been too active in buying.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Internet Marketing Website Marketing Internet Promotion Internet Marketing India Website Marketing India Internet Promotion India Internet Marketing Consultancy Website Marketing Consulta

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions