Scrip is part of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC’s registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

This copy is for your personal, non-commercial use. For high-quality copies or electronic reprints for distribution to colleagues or customers, please call +44 (0) 20 3377 3183

Printed By

UsernamePublicRestriction
UsernamePublicRestriction

Daiichi Sankyo Reports First Annual Loss Since 2005 Merger; Plans To Improve Ranbaxy Management

This article was originally published in PharmAsia News

Executive Summary

Daiichi Sankyo announced May 12 its first annual loss for fiscal year 2008 since its 2005 merger with Sankyo Pharmaceutical. The third-largest Japanese drug maker announced a net loss of ¥335.8 billion, compared to ¥97.6 billion in net profit for FY2007. The huge loss is a direct result of ¥351.3 billion in write offs for Daiichi Sankyo's Indian subsidiary Ranbaxy Laboratories, which has been crippled by an export ban and investigation by U.S. FDA

You may also be interested in...



'We Know We Will Emerge Stronger In The U.S.,' Says Ranbaxy CEO Atul Sobti: An Interview With PharmAsia News (Part 1 of 2)

Indian generic firm's new chief executive talks about adapting to majority ownership by Daiichi Sankyo and about being under the FDA magnifying glass.

'We Know We Will Emerge Stronger In The U.S.,' Says Ranbaxy CEO Atul Sobti: An Interview With PharmAsia News (Part 1 of 2)

Indian generic firm's new chief executive talks about adapting to majority ownership by Daiichi Sankyo and about being under the FDA magnifying glass.

"We Know We Will Emerge Stronger In The U.S.," Says Ranbaxy CEO Atul Sobti: An Interview With PharmAsia News (Part 1 of 2)

Japan's third-largest drug maker Daiichi Sankyo acquired a 64- percent stake in India's most internationally known pharmaceutical brand name - Ranbaxy - last June. The deal between an emerging innovator and an established generics drug maker surprised many but was seen as a transformational one with a goal to expand reach and enhance cost-efficiencies. Daiichi Sankyo was criticized later as concerns surfaced regarding Ranbaxy's manufacturing issues at two of its U.S. FDA-approved sites in India. After a complete management overhaul that saw Ranbaxy's promoter exiting the company, Daiichi Sankyo made Atul Sobti the CEO and managing director. In arguably the most in-depth interview after taking over the reins of Ranbaxy, Sobti, who has worked previously with companies like Hero Honda, opened up to PharmAsia News' India bureau on issues spanning U.S. FDA's actions to rebuilding Ranbaxy's reputation and opportunities in Europe, Africa, Japan and India.

Related Content

UsernamePublicRestriction

Register

SC071625

Ask The Analyst

Please Note: Click here for more information on the Ask the Analyst service.

Your question has been successfully sent to the email address below and we will get back as soon as possible. my@email.address.

All fields are required.

Please make sure all fields are completed.

Please make sure you have filled out all fields

Please make sure you have filled out all fields

Please enter a valid e-mail address

Please enter a valid Phone Number

Ask your question to our analysts

Cancel