Core Team At Ranbaxy Laboratories U.S. Unit Resigned: Report
October 14, 2014
By Riley McDermid, BioSpace.com Breaking News Staff
The American unit of Ranbaxy Laboratories Limited saw a major shakeup in its executive suite last week after five ranking company leaders, including country head Venkatachalam Krishnan, abruptly resigned together, the Business Standard reported Monday, October 13.
“The core team of Ranbaxy in the U.S., which was running the show so far, resigned in one go last week. This has created a lot of anxiety among other and internally everyone is in an exit mode. More heads might roll very soon,” an unnamed company executive told the news outlet.
Heads of key departments such as finance, legal and sales and distribution were all among the departed, said the report. The exodus come only two months after the Indian biopharma was rumored to have lost its global human resources head, who was based in India.
Ranbaxy was acquired by Sun Pharmaceutical Industries Ltd. in April of this year, making Sun Pharma the largest drug maker in India and the fifth-largest generic drug maker in the world.
Spokespeople for Ranbaxy and Sun Pharma declined to comment.
Ranbaxy has been faced with a series of manufacturing disasters, including a $500 million fine by the U.S. Food and Drug Administration after its supply chain was found to be corrupted. That settlement required Ranbaxy to plead guilty to two charges of violating drug safety laws and the FDA has continued a ban on imports from four plants in India.