India Companies Hire Honchos of Rival Brands Such as Sanofi (France), GlaxoSmithKline
Published: Sep 19, 2011
In late August, when Aventis Pharma, the Indian subsidiary of Europe's largest drugmaker Sanofi, announced the acquisition of Indian firm Universal Medicare's branded nutraceuticals business, Ranga Iyer joined the celebration. Iyer, a former MD of US drugmaker Wyeth in India, was the man Aventis had turned to 18 months ago to help bulk up its presence in the Indian healthcare market. He had then just stepped down from Wyeth after its global merger with world number one Pfizer. Eschewing other job offers, Iyer turned advisor to CEOs of pharmaceutical companies on strategy, business development, mergers and acquisitions. Helping Aventis scout around for potential acquisitions was one of those mandates.