THE COURSE IS INNOVATION AND THE DRIVE FOR GROWTH
R & D PLANNING: RANBAXY
Ranbaxy laboratories is an indian firm that is one of the world's leading producers of medicines for the treatment of tuberculosis and malaria. The largest pharmaceutical firm in India, its research team is made up of more than 350 researchers. However, the firm has established plans to almost double the number of researchers. Previously, Ranbaxy focused on generic drugs that matched the needs of emerging markets. However, the firm has decided to shift its strategic mission to focus on a worldwide pharmaceutical presence. As a result, it knows that it must develop drugs that are branded. It refer to these as new chemical entities. This shift in mission lead by Ranbaxy also led the firm to change its strategic planning process. The firm realizes that to participate in the branded pharmaceutical market, it must reach the world's largest market for such goods: the United States. Therefore, it has built a new research facility that will not only develop new products but will also conduct the human testing required by FDA. In addition, Ranbaxy has diversified into Europe, Brazil, Russia and China.
(2) How should it plan for such possibilities?