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The growth in the foreign markets was primarily led by bulk drugs and intermediates, which constituted 80% of the foreign sales in 1995. Driven by the vision of CEO Parvinder Singh, Ranbaxy had consciously started moving up the value curve into branded generics in the emerging markets and commodity generics and bulk drugs in the developed markets. At the same time Ranbaxy started its thrust into New Drug Formulations by investing in Basic R&D facilities in India.
The Indian market was governed by price controls in the 1970s and 1980s – a situation that did not incentivise research. This, coupled with low per capita income resulted in demand for drugs that was not very high in sophistication...
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