Malvinder bullish on China

Dalian(China): Ranbaxy, one of the first Indian companies to set up a venture in China in 1993, is bullish on its operations, securing increased market share for its innovative medicines and also for sourcing intermediaries to cut down production costs, according to a top executive of the company.

“There are a lot of opportunities for collaboration and partnership and to do more than what we have been doing,” CEO and Managing Director Malvinder Mohan Singh of Ranbaxy Laboratories, said.

“We are not looking at any acquisitions in China,” Singh said, which is now ranked among the world’s 10 best in the generic business. “Our objective is to seek partners with whom we can work in the domestic Chinese market and jointly do things and bring a wider range of products,” Singh, who is participating in the inaugural annual meeting of the new champions organised by the World Economic Forum (WEF) here in the port city of Dalian.

A “decent part” of Ranbaxy’s sourcing came from China, he said, adding that the sourcing of intermediaries enabled the company to continuously focus on cost reduction, cost competitiveness and add value on that in making the final product.

“We are working with a few Chinese companies, exploring options with the regulatory knowledge and the developed country knowledge that we have, how we can work with them jointly to make them move up the value chain as well,” Singh said.