Ranbaxy promoters to sell stake to Japan's Daiichi

Daiichi to get 50.1% stake in Ranbaxy
Ranbaxy valued at $8.8 billion with Daiichi paying Rs737 per share at 70% premium to market cap

In a major development, Japanese pharmaceutical company Daiichi Sankyo is set to procure the complete promoter’s stake of 34.82% in one of India’s biggest pharmaceutical company Ranbaxy Laboratories at Rs737 per share. $440 million of FCB will also be converted into equity, present Ranbaxy CEO Malvinder Mohan Singh informed at the company’s press meet to announce the same. The conversion is expected to happen at Rs540- 550 per share. In all, the Japanese Company will have 50.1% stake in the company, said Singh.
With the present valuations, Ranbaxy is now valued at $8.5 billion on diluted basis. It will become a debt free company after the deal. It will also remain listed on the Indian bourses. Religare Capital Advisors were the managers of the deal.
Daichi will acquire the stake through a tender offer and has valued Ranbaxy at $8.8 billion — a 70% premium over existing market capitalisation.

As per the arrangement, Malvinder Mohan Singh will continue to remain the CEO and Managing Director.There will be no change in the company’s present management. Singh will also be a part of the Daiichi global management team and global board.
“Additionally, upon closing he would assume the position of Chairman of the Board,” an official release said.
The value of the deal is expected to be above $3 billion.
Ranbaxy shares were trading up at Rs585.10 at 12pm
At present (up to 31, March 2008), FII and institutional investors hold close to 41.28%. The general public holds around 18.53% in Ranbaxy.
For the full year ended December 2007, the company reported an operating income of Rs4,293.02 crore with net income of Rs617.72 crore.
Daiichi Sankyo is the joint holding company established in 2005 by Sankyo Co and and Daiichi Pharmaceuticals, both based out of Japan.

History of Ranbaxy:
1961
- The Company was Incorporated on 16th June, 1961 at Delhi. The Company Manufacture drugs, medicines, cosmetics and chemical products. The company also markets a wide range of products including a number of life saving antibiotics.

1973

- The shareholders of the Company offered for sale to the public during October simultaneously with the public issue of shares 63,535 equity shares of Rs 10 each of the Company at par.

1977

- The Company had set up a joint venture company with local participation in Nigeria. The equipments to be supplied against the Companmy's contribution to the equity capital were ordered. These were shipped during 1978 and were received and installed in Nigeria. Production commenced in early 1980.

1984

- Ranbaxy Investments Ltd., Medicare Investments Ltd., and Cheminvest Ltd., became subsidiaries of the Company.

1985

- Approval of the Malaysian Government was received for a joint venture project. The project commenced production in July 1987.

- In October the Company made a rights issue of 1,00,000 equity shares of Rs 10 each linked to 15,00,000-15% secured redeemable non-convertible debentures of Rs 100 each, both at par on the following basis:

- (i) 9,09,000 equity shares tied to 13,63,500-15% debentures to the existing equity shareholders and holders of the convertible parts of 13.5% secured debentures in the ratio 27 debentures and 18 equity shares for every 50 equity shares or 10 convertible parts of the 13.5% debentures held,

- (ii) 71,000 equity shares tied to 1,06,500 debentures as preferential allotment to equitable basis to employees, and

- (iii) 20,000 equity shares tied to 30,000 debentures to business associates. The issue was oversubscribed and the Company allotted a further 2,50,000 equity shares tied to 3,75,000 bedentures to retain oversubscription.

- Ranbaxy Drugs Ltd., became a subsidiary of the Company. Montari Agro Chem Investment Ltd., Montari Chemicare Investments Ltd., Chahel Investment & Trading Co., Ranpharm Investment Ltd., Raicure Investment Ltd., & Vidyut Inv. are subsidiaries of the Company.

1986

- 9.8% Pref. shares redeemed. 39,510 equity shares issued in conversion of 13.5% debentures.

1987

- An antibiotic plant at Toansa, Dist. Hoshiarpur (Punjab) and the Nalidixic Acid plant as SAS Nagar (Punjab) were commissioned.

- 7,000-11% Pref. shares redeemed. 45,680 equity shares issued in conversion of 13.5% debentures. (Final conversion).

1988

- A new broad spectrum oral fluoroquinolone of loxacin under the brand name "Zanocin" was launched in the market in April 1990.

- The Company offered 16,64,775-12.5% secured fully convertible debentures of Rs 100 each for cash at par aggregating to Rs 16,64,77,500. Of these, 15,85,500 debentures were offered to the shareholders on rights basis in the proportion 30 debentures: 100 equity shares (all were taken up). The balance 79,275 debentures were offered to the employees (including Indian working Directors) (all were taken up). Additional 2,49,716 debentures were allotted to retain oversubscription (2,37,825 debentures to the shareholders and 11,891 debentures to the employees).

- Each debenture was converted into 2 equity shares of Rs 10 each at a premium of Rs 40 per share on 31.3.1989. Accordingly, 38,28,982 equity shares of Rs 10 each were issued. Subject to necessary approvals being obtained, the Company proposed to issue 13,67,097-12.5% secured redeemable partly convertible debentures of Rs 300 each on rights basis to the existing equity shareholders in the ratio of 9 debentures for every 100 equity shares held. Simultaneously, the Company proposed to offer, 68,355 debentures to the employees/workers of the Company.

- As per the proposed terms of issue, part-A of Rs 200 of each debenture will be converted into four equity shares of Rs 10 each at a premium of Rs 40 per share at the end of 6 months from the date of allotment. The non-convertible part-B of each debenture will be redeemed at part at the end of 7th year from the date of allotment.

1990

- A new plant was set up at Sahibzada Ajit Singh Nagar for the production was commissioned. A bulk facility to produce newer fluoroquinolones was also being set up at Dewas.

- On 1st June, the scheme of arrangement for spinning-off the pharmaceutical plant at Okhla, New Delhi of the Company to Pharmax Corporation Ltd. was approved by the Honourable high court of Punjab & Haryana.

- Tata Hotels Ltd., is a subsidiary of the Company with a holding of 7,500 equity shares of Rs 10 each out of 7,600 equity shares issued. Since 1990, Tata Hotels Ltd. ceased to be a subsidiary of the company.

1991

- The Company proposed to undertake backward integration into fermentation based products such as Penicillin and Cephalosporin-C. These were to be implemented at Paonta Sahib in Himachal Pradesh, a new complex being developed for bulk drugs.

- 2,250 Pref. shares redeemed on 3.9.91. 60,75,988 bonus equity shares issued in prop. 2:3.

1992

- The Company offered 13,67,097-12.5% partly convertible debentures of Rs 300 each on Rights basis in the proportion of 9 debentures: 100 equity shares held. All were taken up. Additional 2,05,065 debentures were allotted to retain oversubscription.

- 68,355 debentures of Rs 300 each were also issued to the employees' on an equitable basis. (All were taken up). Additional 10,253 debentures were allotted to retain oversubscription.

- Part A of Rs 200 of the face value of each debenture was to be compulsorily converted into 4 equity shares of Rs 10 each at a premium of Rs 40 per share at the end of six months from the date of allotment of debentures.

- Part B of Rs 100 of the face value of each debenture was to be redeemed at par at the end of 7 years from the date of allotment of debentures.

- RLL has three successful overseas joint ventures in Nigeria, Malaysia and Thailand. A joint venture recently incorporated in India with Eli Lilly -- a leading original research company in pharmaceuticals

1993

- During September the Company offered 24,51,719-12% fully convertible debentures of Rs 300 each on Rights basis in the proportion 15 debs: 200 equity shares held (all were taken up) (18611 debs. were kept in abeyance).

- Another 1,22,586-12% debentures were offered to the employees as an equitable basis (all were taken up).

- Part A of Rs 125 of each debenture was to be converted into one equity share of Rs 10 each at a premium of Rs 15 per share on the date of allotment. Accordingly 25,55,694 equity shares were allotted on 5.12.93.

- Part B of Rs 175 of each debenture was to be converted into one equity share of Rs 10 each at a premium of Rs 165 per share on the expiry of 12 months from the date of allotment. Accordingly 25,55,694 equity shares were allotted on 6.12.1994.

- The Company also offered 40,86,197-15% Non-Convertible debentures with warrants attached to it on Rights basis in the proportion 25 NCDS with warrants 8,200 equity shares held (all were taken up).

- Another 2,04,310-15% NCDS were also offered to the employees on an equitable basis (all were taken up). These would be redeemed in three instalments of Rs 66, Rs 67 and Rs 67 each at the end of 6th, 7th & 8th year respectively from the date of allotment debentures.

- Each NCP carries a warrant entitling the holder to apply for one equity share of Rs 10 each at a premium of Rs 115 per share at one or more instalment as may be decided by the Board during the period between 36th months and 60th months from the date of allotment of NCDS at half yearly intervals.

- The Company also offered 85,000-12% Full Convertible debentures with warrants of Rs 300 each for cash at par to Specified Entities of the Management Group. Part A of debenture would be converted into one equity share of Rs 10 each at a premium of Rs 115 per share on the date of allotment. Part B of Rs 175 of each debenture was to be converted into one equity share of Rs 10 at a premium of Rs 165 per share. On December 6th 1994, 26,40,694 equity shares of Rs 10 ech were allotted as per the terms of fully convertible debentures issued in December 1993, Part B of Rs 175 each.

- Each debenture has a warrant attached to the entitling the holder to apply for 25 equity shares of Rs 10 each for cash at a premium of Rs 165 per share in one or more instalment as decided by the Board, during the period between expiry of 12th month and 60th months from the date of allotment of debentures.

- On 5th December, 32,81,154 equity shares were issued to shareholders of erstwhile Crosslands Research Laboratories Ltd. on its amalgamation with the Company.

- It went public in Oct.'93 to part-finance manufacturing facilities of bulk fluoroquinolones at Dewas, MP; and dosage forms at Paonta Sahib, Himachal Pradesh. For easier access to the European markets

1994

- The Expansion and Modernisation plant for manufacture of Ranitidine and Amoxycillin and a pilot plant for R&D at Toansa were commissioned. A new plant for manufacture of pharmaceutical dosage forms at Paonta Sahib was completed.

- The company allotted one hundred thousand warrants without any face value to entities of the management group on 28th July. Each of such warrants entitles the holder to subscribe to fifty equity shares of Rs 10 each at a premium of Rs 390 per share within a period of 18 months from the date of allotment.

- The Company offered 51,61,290 GDSs representing 51,61,290 equity share of Rs 10 each at a price of US $19.375 equivalent to 604.89 (at the rate of US $1.00 = 31.22) per GDS on 29th June.

1995

- A Global Alliance Agreement was signed with Eli Lilly and the Company, for marketing of pharmaceutical products in U.S.A. and other countries. For the purpose of Indian joint venture, a company under the name Ranbaxy Lilly company was incorporated.

- A join venture in U.S.A. for marketing of products from the Indian joint venture as also select Lilly and Ranbaxy products was proposed. For the purpose, a company under the name "Lilly Ranbaxy Pharmaceuticals LLC" was incorporated in the state of Indiana, U.S.A.

1996

- RLL bought a drug firm in Ireland in Jan.'96. In 1996, it acquired six leading brands from Gufic. Croslands Research Laboratories, a leading manufacturer of dermatological pharmaceutical formulations has been merged with RLL. In Oct.'98 sold off the Glat (Global Alliances and Technologies) division of Croslands to French pharma major Galderma.

1997

- The name of Ranmax Laboratories (Nigeria) Ltd., was changed to Ranbaxy (Nigeria) Ltd.

- 1,50,000 equity shares of Rs 10 each (prem. Rs 630 per share) allotted on 12th June, to Ranbaxy Employees Welfare Society on exercise of rights attached with warrants allotted to the society. 2,23,958 equity shares of Rs 10 each (prem. Rs 115 per share) allotted on 1.8.1997 on exercise of right attached with warrants allotted along with NCDs of Rs 200 each on rights basis. 6,56,423 equity shares of Rs 10 each (prem. Rs 115 per share) allotted on 1st February 1998 on exercise of right attached with warrants allotted along with NCDs of Rs 200 each on rights basis - The Company has licence arrangements with M/s. Upjohn International, Kalamazoo, U.S.A., M/s. Laboratoire Choay, Paris, France and M/s. KRKA, Ljubljana, Yugoslavia for security process and technical know-how for manufacturing and marketing some of their products in India.

- Croslands Research Laboratories Limited is being merged with Ranbaxy Laboratories Limited.

- The company recently issued one-for-one bonus shares raising the equity capital to Rs.7.42 crore. Foreign institutional investors (FIIs) hold over 15 per cent of the company's equity. The two promoters hold around 50 per cent, the employees two per cent and the domestic institutions about three per cent.

- The company already has a tie-up with the US-based Eli Lilly, which has helped it to take on the drug multinationals.

- According to Gufic's managing director Jayesh Choksi, Ranbaxy Laboratories has acquired all the major pharmaceutical formulation brands of the Rs.125-crore, Mumbai-headquartered Gufic Labs.

- The annual Ranbaxy research awards were presented to five scientists for their outstanding contributions in medical, pharmaceutical and clinical sciences by Sir Gustav Nossal, immunologist from Australia.

- Dr Sandip Kumar Basu, Director of the National Institute of Immunology (NII), New Delhi, received the prize in the same category for his work on receptor-medicated intracellular delivery of drugs to macrophages, which are specialised cells important for the restoration of damaged cells, and for demonstrating the superior efficacy of these drugs over conventional chemotherapy.

- Ranbaxy Laboratories recently pipped Nicholas Piramal to take over the Mumbai based Croslands Research Laboratories sums up his rationale for merging his 12 year old company with the Rs. 930 crore Ranbaxy Industries.

- RRL has been busy establishing joint ventures, strategic alliances, acquisitions in other countries to gain access to potential global markets. RRL is one of the Indian pharma companies which was able to seize opportunities during the rigid FERA era of the seventies.

- RRL has acquired Ohm Laboratories New Jersey, US and another company Rima Pharmaceuticals in the Ireland to serve the UK market and European Community.

- RRL has resorted to a strategy of combining R&D with marketing probably to introduce drugs through reengineering route. Three 50:50 joint ventures with Eli Lilly and Company of US are planned, one to market products in US, another for R&D in India and yet another one to market Eli Lilly products in India. The objective is to create a large portfolio of Eli Lilly and Ranbaxy products.

- Ranbaxy Laboratories Ltd, Dabur India Ltd and Great Eastern Shipping Company Ltd have signed agreements with NSDL to get their securities admitted for dematerialisation at NSDL.

- Equity shares of Ranbaxy Laboratories Ltd are accepted for dematerialisation at NSDL as their registrar and transfer agents, Karvy Consultancy Services Ltd. have already established electronic connectivity with NSDL.

- Ranbaxy Laboratories has entered into a 50:50 joint venture with Specialty Laboratories Inc, of US to set up a clinical reference laboratory in Mumbai as well as satellite laboratories in Bangalore and Delhi.

- These companies - Delta Drugs Private Ltd, Delta Health Care Private Ltd, Delta Laboratories Private Ltd, Ranbaxy Managers Welfare Ltd and Ranbaxy Employees Welfare Ltd hold an 11.85 per cent stake in the company. In all, Ranbaxy has a share capital of 49.41 million shares.

- The pharma major, Ranbaxy Laboratories, is all set to launch its first investigational new drug (IND) in the U.S. within the next 18 months.

- Shareholders of Croslands Research Laboratories Ltd (CRL) will receive three equity shares of Ranbaxy Laboratories Ltd (RLL) for every seven shares held by them. According to company sources, the High Courts of Punjab, Haryana and Mumbai granted the necessary approvals for the scheme of amalgamation.

- In 1997-98, it entered into a 50:50 joint venture with the New Jersey-based Schein Pharmaceuticals Inc, the generics arm of Bayer AG, Germany, for manufacture of Ranitidine. The company is the first to launch prescription products under its own label in the United States. RLL's chairman and managing director Parvinder Singh has been selected for Business India's businessman of the year 1998 award.

1998

- It has become India's first pharmaceutical company to launch prescription products under its own name and label in the U.S., the world's largest pharmaceutical market with an estimated 1997 sale of $ 101 billions.

- The company has entered the U.S. ethical prescriptions market through Ranbaxy Pharmaceuticals Incorporated (RPI), a wholly-owned subsidiary of the Ranbaxy Laboratories Ltd. The entry has been made with Cefaclor capsules and suspensions.

- Ranbaxy Laboratories promoter Parvinder Singh has sold around 20 lakh equity shares of the company at a price of Rs.650 per share. Over a dozen foreign institutional investors (FIIs) have picked up these shares in a deal struck by JM Financial and Morgan Stanley.

- The board of directors of pharmaceutical giant Ranbaxy Laboratories Ltd has recommended a bonus issue of one share for every share held, subject to the approval of its shareholders.

- Ranbaxy Laboratories Ltd and the All-India Organisation of Chemists and Druggists (AIOCD) have signed a memorandum of understanding for various trade-related issues, including the discount structure for decontrolled products of Croslands, a division of Ranbaxy.

- The $110-bn US insurance major Cigna has revised its memorandum of understanding (MoU) with Ranbaxy Laboratories for general insurance, including health insurance, and has entered into a fresh tripartite MoU which includes Infrastructure Leasing and Financial Services (IL&FS) and Parvinder Singh, chairman, Ranbaxy, in his individual capacity.

- Ranbaxy Laboratories received the National Award 1998' for indigenous development of technology. The company has bagged the award for the third consecutive year.

- Ranbaxy Laboratories Ltd has been ranked among the leading companies in the 1998 edition of `Review 200: Asia's leading companies', the annual survey conducted by Far Eastern Economic Review.

- On 28th Dec, 1998, the company issued bonus share in ratio of one new equity share for every one equity share held.

1999

- Pharma Majors Ranbaxy Laboratories Ltd and Glaxo Ltd announced an agreement for co-marketing of an advanced dosage form of the antibiotic cephalexin.

- According to the co-marketing agreement, Ranbaxy will market the new dosage form as Sporidex AF, while Glaxo extends its phexin line with its innovated product.

- Ranbaxy Laboratories Ltd and Cipla have entered into a strategic partnership to jointly market a select basket of drugs.

- Ranbaxy Laboratories Ltd has signed an agreement with Glaxo for the co-marketing of an advanced dosage form of the antibiotic, Cephalexin.

2000

- The Company has filed an investigational new drug application for its new asthma molecule - Rbx-4638 with the Drugs Controller General of India (DCGI). Ranbaxy is the first company in the country to file an INDA for such a novel drug compound.

- Eli Lilly Ranbaxy, a 50:50 joint venture between Ranbaxy Laboratories and the US-based Eli Lilly & Co., has introduced HumaPen, a new ergonimically designed, resusable insulin delivery service.

- Ranbaxy Laboratories Ltd (RLL) has entered into an agreement with Knoll Pharmaceuticals Ltd (KPL) to market the latter's leading brands in select overseas markets.

- The Company is launching a major supply and sale offensive in the European markets.

- The Company is the eleventh largest company in the international generics market.

- The Company has proposed a stock option scheme for its employees and working directors.

- Ranbaxy Pharmaceutical Inc, the US arm of pharmaceutical major Ranbaxy Labs, has entered into a co-marketing alliance with Purepac to market its generic cardiac drug Enalapril Maleate in the US markets.

- Ranbaxy Laboratories Ltd. has launched its generic Enalapril Maleate tablets in the US, through its wholly-owned subsidiary-Ranbaxy Pharmaceuticals Inc.

- Ranbaxy's late Chairman and Managing Director Parvinder Singh's eldest son Malvinder Mohan Singh is being moved up the ladder in the company as a director.

- Ranbaxy Laboratories and Cipla have expanded an existing partnership by adding one more new drug in their co-marketing arrangement.

- Drug major Ranbaxy Laboratories is setting up a drug discovery laboratory in the US.

- The Company has entered into a marketing alliance with Ajanta Pharma to market some of its natural products in south-each Asia.

- The Company has started a bioinformatics facility on its research and development premises at Gurgaon.

- The Company is set to launch a specialised Website before the actual launch of the Indian version of the wonder drug, Viagra.

- Ranbaxy Laboratories has launched a website www.caverta.com with details of its sildenafil citrate brand.

- Crisil has reaffirmed the P1+ rating assigned to the Rs 130-crore CP programme of the company and the FAAA rating assigned to its fixed deposit programme.

- Ranbaxy Laboratories has been awarded the US Foods and Drugs Administration approval for four key anti-infective products, representing nine formulations.

- Ranbaxy Laboratories is setting up a greenfield manufacturing facility in Vietnam with an investment o fover $10 million to be spent over the next five years.

- In Mar.'2000 it launched CLAFRINAST, this novel drug compound belongs to the VLA (Very Large Antigen)4 class of drug which represents a totally new mechanism for treatment of asthma. No such drug has been launched in the international market.

2001

- Ranbaxy Laboratories is set to reap a windfall after existing the joint venture with the $11 billion US pharma major, Eli Lilly by selling its 50 per cent stake made at an equity investment of Rs 7.2 crore for more than ten times at Rs 78 crore.

-July 3: The US-based Eli Lilly has bought the 50 per cent stake owned by Ranbaxy Laboratories in the joint venture Eli Lilly Ranbaxy for $17 million.

- Ranbaxy Laboratories, on August 17th, received the government's approval to begin selling Cifran-OD, a once-a-day form of the antibiotic ciprofloxacin.

-Ranbaxy Laboratories and Cipla, two of the country's leading pharma firms, on August 27 announced an alliance to co-market the former's once-a-day formulation of ciprofloxacin.

- The US-based Eli Lilly has bought the 50 per cent stake owned by Ranbaxy Laboratories in the joint venture Eli Lilly Ranbaxy for $17 million.

- Ranbaxy has appointed Mr Rashmi Barbhaiya as the head of research and development (R&D) at Ranbaxy.

2002 - Ranbaxy subsidiary receives tentative approval for commercialization of Lisinopril + Hydrochlorothiazine Tablets

- Ranbaxy Laboratories's US subsidiary has received temporary approval for an anti-hypertension drug, Prinizide, issued by US Food and Drug Administration.

- Ranbaxy terminates manufacturing agreement with Eli Lilly

- Ranbaxy Laboratories has recieved approval for launching the anti-asthma compound - Montelukast in India.

- Ranbaxy obtains FDA approval to launch Ceftin

- Ranbaxy obtains exclusive marketing rights for Nifedipine-XL from Penwest, USA

- Ranbaxy Laboratories and Wockhardt on March 7th announced a strategic business alliance for the US, the world's largest market for pharmaceutical products.

- Ranbaxy introduces OTC, herbal remedies

- Ranbaxy's US subsidiary gets USFDA permission for midazolam syrup

- Ranbaxy's subsidiary gets USFDA approval for acetaminophen

- Ranbaxy enters biotechnology arena

-Amarinder Singh resigns from Directorship of Ranbaxy Laboratories.

- Ranbaxy & Schwarz Pharma sign a deal to develop new drug to treat benign Prostate Hyperplasia

- The Ranbaxy Laboratories has got the final approval to manufacture and market cefpodoxime proxetil for oral suspension from the US Food and Drug Administration (USFDA)

- Ranbaxy obtains USFDA approval for Adderall

- 4 Ranbaxy drugs included in WHO list

- Ranbaxy Laboratories Ltd and Procter & Gamble Pharmaceuticals - Germany GmbH (P&G) today (June 26, 2002) announced the execution of an agreement by which Ranbaxy acquires the Brand, Veratidec in Germany from P&G.

- Ranbaxy Lab got regulatory approval for its clinical Phase-I trials of its potentially anti-asthmatic entity

- Ranbaxy makes a breakthrough in its R&D programme

- Ranbaxy garners 90% market share of cefuroxime axetil in the US market

- Ranbaxy gets FDA approval for Isotretinoin

- Ranbaxy gets promotion and marketing rights for Verorab

- FDA approved Ranbaxy Lab's new formulation

- Ranbaxy changes its Asia-Pacific base to Singapore

- Ranbaxy enters into marketing pact with Aventis for Hepatitis vaccine

- Ranbaxy Labs forays domestic OTC segment

- Ranbaxy gets US FDA approval for hypertension drug

- Ranbaxy Lab announces the launch of "Ranbaxy Global Consumer Healthcare"

- Ranbaxy Lab members approve issue of bonus shares

- Ranbaxy files highest number of PCT applications to Wipo

- Ranbaxy gets US FDA permission for Lisinopril

- Ranbaxy Lab got approval by WHO for its anti-AIDs drugs

-T R Mulchandani retires from Directorship of Ranbaxy.

-Ranbaxy Laboratories Ltd, and Synaptic Pharmaceutical Corporation USA today (July 12, 2002) announced the granting of a non exclusive license by Synaptic to Ranbaxy. In exchange for the non-exclusive license; Ranbaxy will provide an up-front licensing fee, milestone payments and royalties to Synaptic if any drugs subject to the license are developed and commercialized.

- Ranbaxy Laboratories Ltd has acquired a liquid manufacturing facility from New York based Signature Pharmaceuticals Inc., on an asset purchase basis through its wholly owned subsidiary Ranbaxy Pharmaceuticals Inc., USA.

-Ranbaxy Laboratories Ltd has informed that Dr J M Khanna, President-R&D and Wholetime Director of the Company has retired on July 31, 2002.

- SRL Ranbaxy, a wholly-owned venture of promoters of Ranbaxy Laboratories has received the prestigeous accreditation from the College of American Pathologists (CAP).

- Ranbaxy receives approval from FDA to market Terazosin Hydrochloride

- Ranbaxy gets US approval to manufacture and market terazosin

- Ranbaxy enters into pact with Korean, Chinese biotech firms

- The project of Ranbaxy Laboratories 'Crusoe,' initiated by Ranbaxy earlier this year, is well on track to result in a saving of Rs 100 crore by the year '03 by way of operational efficiencies in various functional areas.

- Ranbaxy Labs gets US approval for Augmentin Version

- Ranbaxy Laboratories Ltd. (RLL) and Nippon Chemiphar Co. Ltd (NC) and Nihon Pharmaceutical Industry Co. Ltd. (NPI)(a subsidiary of NC) based in Tokyo, Japan announced a business alliance agreement for US$ 50 Bn (JPY 600 billion) pharmaceuticals market in Japan.

- Ranbaxy Laboratories Ltd has informed the Exchange that Ranbaxy SA (Pty) a wholly owned subsidiary of Ranbaxy Laboratories Ltd and Tiger Brands' Healthcare division, Adcock Ingram on October 16, 2002 announced the formation of a 50:50 Joint Venture to exclusively sell and distribute Ranbaxy's range of anti-retroviral products in South Africa

- Ranbaxy Laboratories Ltd has informed the Exchange that it has announced an exclusive licensing agreement with K S Biomedix Ltd (KSB), a U K based bio-pharmaceutical company for marketing TransMID TM

- Ranbaxy Laboratories Ltd's fully owned subsidiary Ranbaxy Pharmaceuticals Inc, has secured the final approval from the US Food and Drug Administration (USFDA) to manufacture and market amoxicillin for oral suspension

2003

- Prof Virander S Chauhan and Dr Kanury V S Rao from the International Centre for Genetic Engineering, and Prof Samir K Brahmachari from the Institute of Genomics and Integrative Biology, all from Delhi, are the seven scientists who bagged Ranbaxy Research Awards for the year 2001.

- Ranbaxy Laboratories has rolled out the GlaxoSmithkline's antibiotic called Augmentin, in the US market

- Ranbaxy Launches next Generation Anti-Retroviral for the first time in India

- Ranbaxy Laboratories Ltd on February 10, 2003 has announced the launch of a high end advanced Cephalosporin, Cefprozil, under the brand name Refzil O

- Ranbaxy obtains USFDA approval to market Augmentin clones

- Ranbaxy gets US FDA nod for Cefadroxil Oral Suspension USP

- Ranbaxy receives tentative approval for manufacturing & marketing of Fluconazole Tablets

- Ranbaxy enters into collaborative research with medicines for development of Anti-Malarial Drug

- Ranbaxy receives USFDA approval to manufacture and Market Ofloxacin Tablets

- Ranbaxy announces FDA approval for the manufacture and commercialisation of Isotretinoin Capsules

- Ranbaxy Laboratories obtains approval from USFDA to manufacture Ganciclovir Capsules

- Ranbaxy receives USFDA approval for AIDS drug

- Ranbaxy Lab gets nod from FDA USA for Mfg, marketing fluconazole

- Ranbaxy Latoratories is at the verge of becoming a Zero-Debt company. The company's secured and unsecured debt is curtailed to less than Rs 7 crore, this will ultimately result in substantial savings in the interest outgo.

- Ranbaxy Laboratories has obtained US Food and Drug Administration (FDA) approval to unveil a new amoxicillin antibiotic drug in US market.

- Ranbaxy receives USFDA approval to manufacture & market Loratadine 10 Mg tablets in the OTC market

- Ranbaxy Labs and Kasturba Medical College owned by the Manipal Group have jointly started a clinical research centre in Manipal.

- Ranbaxy receives USFDA approval to manufacture & commercialize Ofloxacin tablets

- Ranbaxy launches High end anti infective injectable for the first time in India

- Ranbaxy gains USFDA approval for commercialization of Riomet

- Ranbaxy Laboratories has inked an agreement with the Andhra Pradesh Government for starting a research centre in the State.

- Ranbaxy gets FDA approval for diabetes drug

- Company's Animal Health Division signs marketing agreement with Alltech Biotechnology for YeaSacc 1026 Bolus, a highly valued product in the dairy cattle segment

- Ranbaxy Laboratories Ltd and GlaxoSmithkline plc (GSK) have entered into a drug discovery and clinical development collaboration covering a wider range of therapeutic areas.

-United States Food and Drug Administration has permitted Ranbaxy Laboratories Ltd to manufacture and commercialise Metformin HCI oral solution 100 milligram per millilitre.

-The company has received prestigious National Safety Awards for the year 2001 & 2002

-Unleashed a cholesterol-reducing agent called 'Rosuvas (rosuvastatin)', which reduces triglycerides and raises HDL..

-Ranbaxy gets FDA approval to market cephalexin

-Got approval from US FDA for the manufacture and marketing of Merck & Co Inc's cholesterol-lowering drug generic Zocor.

-Company has received tentative approval from the office of Generic Drug of the US Food & Drug Administration to manufacture and market Metformin Hydrochloride extended-release tablets, 500 MG.

-Secured USFDA approval for Simvastatin drug

-Ranbaxy gets approval from US FDA for selling its generic form of Bristol-Myers Squibb's cholesterol-reducing Pravachol.

-Received tentative approval from the office of generic drugs of the US Food and Drug Administration to manufacture and market pravastatin sodium tablets 10mg, 20mg, 40mg, and 80 mg.

-Ranbaxy Laboratories granted first USFDA Approval to manufacture and Market Cefaclor Tablets

2004

-Ranbaxy Laboratories Ltd announced that all the necessary formalities and consents required for the conclusion of the acquisition transaction of RPG (Aventis) SA have been obtained and that the acquisition is now complete. With this, RPG (Aventis) SA France has now become a wholly owned subsidiary of Ranbaxy.

-Ranbaxy receives USFDA approval to commercialise Minocycline Hydrochloride Tablets USP

-Ranbaxy Laboratories Ltd has informed that the Stock Exchange, Ahmedabad has advised delisting the securities of the Company effective January 15, 2004.

- In an attempt to tap the domestic $1 billion herbal medicines market, Ranbaxy Laboratories Ltd on Jan 21 unveiled three new brands under the `New Age Herbals' brand. As part of its expansion in the over-the-counter (OTC) segment, the company has launched Olesan Oil for cold, Olesan cough syrup and Eat Ease, an appetite enhancer. Ranbaxy had forayed into the OTC market through a separate division - Ranbaxy Global Consumer Healthcare (RGCH) in October 2002 and is hoping to launch five to six products this year.

-Ranbaxy Laboratories Ltd at its meeting held on January 23, 2004, has approved the appointment of Mr Gurcharan Das as an Additional Director on the board of directors of the company.

-Ranbaxy Laboratories Ltd has signed a research agreement with the Institute of Nuclear Medical and Allied Sciences (INMAS) for screening and evaluation of formulations and New Drug Delivery Systems (NDDS) using Gamma Scintigraphy.

-Ranbaxy unleashes liquid form of diabetes drug in US market

-Introduces its first branded prescription medicine, Visclair tablets 100 mcg (Mecysteine HCL) in the UK

-Surpasses global sales of $1 billion (February 2004, MAT Basis)

-Launches Forzest (Tadalafil), its most recently approved prescription medicine for the treatment of erectile dysfunction (ED) in men

-Bags tentative USFDA approval to manufacture and market Quinapril Hydrochloride tablets used for the treatment of hypertension

-Delists shares from Ludhiana Stock Exchange

-The outgoing CEO and MD of Ranbaxy, Mr D S Brar, has joined the board of Jerry Rao-promoted Mphasis as an independent director

-Ranbaxy receives Tentative approval to market Fenofibrate tablets

- Ranbaxy Laboratories sets up two more wholly-owned subsidiaries in US taking total number of US subsidiaries to eight from six last year.

-Drug company Ranbaxy Laboratories Ltd said on June 22 that its anti-diabetic drug has got the final approval from regulatory authorities in the US

-Ranbaxy & Atrix sign a licensing Agreement for Prostrate Cancer Drug in India

-DS Brar exits from Ranbaxy Laboratories Ltd

-Ranbaxy's anti-cancer drug Metformin is learnt to have received the final approval from the US Food and Drug Administration (FDA)

-Indian pharma major Ranbaxy Laboratories has received final approval from the US FDA to manufacture and market Fluconazole tablets and oral suspension in varying dosages in the US.

-Ranbaxy ties up with Axis-Shield to cure Rheumatoid arthritis

- Ranbaxy Laboratories Ltd receives approval from U. S. Food and Drug Administration to manufacture and market Loratadine Syrup (Loratadine Oral Solution, USP), 5mg/5ml that is available to patients as an OTC product.

- Receives tentative approval from the US Food and Drug Administration for generic anti-depressant, Gabapentin, in capsule form

-Signs collaborative research agreement in the area of New Drug Discovery research with Avestha Gengraine Technologies Pvt Ltd (Avesthagen)

-Ranbaxy prolongs partnership with Aventis

-Ranbaxy inks pact with Ventiv to market Sotret in US

-Ranbaxy launches Flotral for urological disorder amongst ageing males

-Ranbaxy announces launch of Quinapril Tablets by Teva

2005

- Receivs approval from the U.S. Food and Drug Administration to manufacture and market Clarithromycin XL 1000 mg tablets.

-Ranbaxy in alliance with Novavax to step in to biotech sector

-Ranbaxy Laboratories Ltd enters into collaborative agreement with National Chemical Laboratories, Pune and Department of Science & Technology in the area of New Drug Discovery.

- On May 24, 2005 launches its approved generic formulation of Clarithromycin immediate release (IR) tablets, 250 mg and 500 mg, in the US markets.

-Ranbaxy's Joint Venture with Nippon Chemiphar Ltd launches Vogseal 0.2mg & 0.3mg tablets for Diabetes

-Ranbaxy sets up additional manufacturing facility in Malaysia

-Ranbaxy opens third state of the art R&D facility on Gurgaon campus

2006

-Ranbaxy Laboratories enters into a strategic alliance with Zenotech

-Ranbaxy ties up with Ipca to tap US market

-Ranbaxy signs licensing agreement with Swiss Company Debiopharm, for NCE Drug in the Gastroenterology Segment

-Ranbaxy signs licensing agreement with Swiss Company Debiopharm, for NCE Drug in the Gastroenterology Segment.

-Ranbaxy Appoints Atul Sobti as COO.

-Ranbaxy Laboratories Ltd has announced that the Company has entered into a collaborative agreement with the Department of Science & Technology (DST), Government of India, New Delhi, in the area of New Drug Discovery Research (NDDR).

-Ranbaxy granted final USFDA approval to Market Simvastatin 5, 10, 20 & 40 MG Tablets.

2007

-Ranbaxy Laboratories Ltd and GlaxosmithKline (GSK) on February 06, 2007 have signed a new multiyear R&D agreement that modifies and expands the terms of their strategic alliance established in 2003 to provide the Company expanded drug-development responsibilities and further financial opportunities.

- Ranbaxy unveils asthma inhalation capsules.

- Ranbaxy Laboratories Ltd has received final approval from the U.S. Food and Drug Administration (FDA) to manufacture and market Amlodipine Besylate Tablets, 2.5 mg (base), 5 mg (base) and 10 mg (base).

- Ranbaxy Laboratories Ltd on August 22, 2007 has the launch of Roliflo OD (combination of Tamsulosin and Tolterodine) brand in the Indian market for the management of "bladder outlet obstruction with concomitant overactive bladder", a chronic urological disorder. This is a Novel Drug Delivery System (NDDS) product which is being introduced for the first time in India.