Singh steps down as Ranbaxy head
GURGAON, India The leader of Indian generic drug maker Ranbaxy Labs will step down under a plan to reconstitute the company’s executive leadership.
Ranbaxy and majority stakeholder Daiichi Sankyo Co. announced Sunday that Malvinder Mohan Singh would step down as chairman, CEO and managing director of the company, effective immediately, replaced by COO Atul Sobti in the CEO and managing director positions and by Tsutome Une in the chairman position.
“It was a difficult decision to separate from Ranbaxy, but it was the right time for me to do so,” Singh said in a statement. “I leave with complete confidence that the initial transition phase that followed Daiichi Sankyo’s acquisition of majority shareholding interest in Ranbaxy has been completed successfully; and that the company’s excellent team of management colleagues are well-positioned to take full advantage of the company’s growth opportunities.”
The company last reconstituted its executive leadership in December, following Daiichi Sankyo’s acquisition of a 63.92% stake in Ranbaxy, completed the month before. At that time, Singh took on the role of chairman of the board in addition to his roles as CEO and managing director.
“Malvinder has decided to pursue other opportunities and is stepping down by his own choice,” Ranbaxy USA spokesman Chuck Caprariello told Drug Store News. Caprariello said that included work in the investment community and with hospital chain Fortis Healthcare.
Aurora Health Care to sponsor run/walk for cancer
GREEN BAY, Wis. A nonprofit healthcare organization that operates hospitals, clinics and retail pharmacies in eastern Wisconsin will sponsor a run and walk to raise money for cancer.
Aurora Health Care announced Thursday that it would sponsor the Aurora Run/Walk for Cancer in Green Bay, Wis., on June 7, National Cancer Survivor’s Day. Proceeds from the event will benefit Aurora’s Vince Lombardi Cancer Clinics.
“The Aurora Run/Walk for Cancer provides cancer survivors and their support teams the opportunity to celebrate survivorship and reflect on what they’ve accomplished,” Vince Lombardi Cancer Clinic at Aurora BayCare Medical Center oncologist Dhimant Patel said. “While many appreciate being alive each and every day, this is a once-a-year opportunity to truly celebrate beating and living with cancer.”
Ranbaxy acquires dermatological and lifestyle product range of Ochoa Labs
GURGAON, India Indian drug maker Ranbaxy announced Thursday that it had acquired the trademarks, marketing rights and product dossiers for the entire dermatological and lifestyle product range of New Delhi-based Ochoa Labs.
Ranbaxy said the products commanded “considerable equity” with doctors, and it will initially market them in India, though it did not name specific products acquired.
“The move strengthens Ranbaxy’s domestic presence and market share in dermatology, a high-growth therapeutic segment for the company,” Ranbaxy chairman and CEO Malvinder Mohan Singh said. “I believe the Indian pharmaceutical space is ripe for consolidation, and Ranbaxy’s intent is to accelerate this trend with a view to reach commanding positions, especially in the high-value chronic and acute therapy areas.”