ASHISH L. RAHATE Enrol.No.8NBNG169 A report submitted in partial fulfillment of The requirements of


THE MBA PROGRAM (The Class of 2010) INC


In preparation of this report by me I feel great pleasure because it gives me extensive practical knowledge in my career. I have attended the information about sales promotion of Ranbaxy Lab. through this project I express my deep sense of my gratitude to my company for valuable guidance during my project work I also like thank to all the staff members those who guided me in my project of Ranbaxy Lab. At Nagpur. I am thankful to Mr.Ajay Patole (Faculty Guide) for valuable inspiration and guidance provided me through out course of this project. Last But not least, I feel proud to express my deep gratitude to my parents without blessings; the presence work would have never been employed.



Objective and Limitations of Study Industry Profile Market Structure and Trends Company Profile Pharmaceutical Marketing in Ranbaxy Ranbaxy Business Strategy

Page No.
7 8 12 24 31 39

Chapter- 2 Chapter- 3 Chapter- 4

SWOT Analysis Mission And Vision Statement Product Profile
Details of Ranitidine Histac Competitors of Histac

42 46 49
50 52 52

Chapter- 5 Chapter- 6 Chapter- 7

Research Methodology Analysis About Ranbaxy

53 55 60

Top Molecules of Ranbaxy Top Competitors of Ranbaxy

61 63

Chapter- 8 Chapter- 9

Finding and conclusion Bibliography

66 68 70 72 76

Chapter- 10 Questionnaire Chapter- 11 Glossary Chapter- 12 Abbreviations

Executive Summary

Now a day in this competitive world there are many companies existed. Every company wants to attract more and more customers to them there are many policies which are being implementing by these companies. Sales promotion plays an important role to increase the market potential of any company. There are various products of big companies which failed due to lack of aggressive marketing and proper promotion of that product. Sales promotion can be defined as an activity taken up to boost the sales of a product. In a specific sense, a sales promotion includes those sales and advertising

and coordinates them and make them effective. It can include a host of activities like running advertising campaigns, handling public relation activities, distribution of free samples, offering free gifts, conducting trade fairs, offering temporary price discounts etc. The main purpose of sales promotion is to boost the sales of a product by creating demand. Sales promotion also helps in achieving the following purposes: 1. Encourage the customers to try a new product. 2. Attract new customers 3. Encourage the customers to use the product or service and make them brand loyal.



➢ ➢

To study the overview of Indian Pharmaceutical Market. To study the culture of Ranbaxy Lab.

➢ To find out the promotional strategies used by Ranbaxy with respect to ‘Histac’ tab.


➢ To find out various promotional strategies used by Ranbaxy to acquire market share in Nagpur city.
➢ To study the competitors of ‘Histac’ in pharma market. ➢ STo study the perceptions of Doctors on sales of ‘Histac’

LIMITATIONS ➢ The scope of study is limited to Nagpur City only. ➢ There may be discrepancies in the actual data and the recorded data due to misinterpretations. ➢ Topic is vast but availability of information and timeline is short. ➢ Unable to meet the decision maker of the organization. ➢ Due to busy schedule of Doctors proper feedback is not possible.


The Indian Pharmaceutical Industry today is in the front rank of India’s science-based industries with wide ranging capabilities in the complex field of drug manufacture and technology. A highly organized sector, the Indian Pharma Industry is estimated to be worth $ 4.5 billion, growing at about 8 to 9 percent annually. It ranks very high in the third world, in terms of technology, quality and

range of medicines manufactured. From simple headache pills to sophisticated antibiotics and complex cardiac compounds, almost every type of medicine is now made indigenously. Playing a key role in promoting and sustaining development in the vital field of medicines, Indian Pharma Industry boasts of quality producers and many units approved by regulatory authorities in USA and UK. International companies associated with this sector have stimulated, assisted and spearheaded this dynamic development in the past 53 years and helped to put India on the pharmaceutical map of the world. The Indian Pharmaceutical sector is highly fragmented with more than 20,000 registered units. It has expanded drastically in the last two decades. The leading 250 pharmaceutical companies control 70% of the market with market leader holding nearly 7% of the market share. It is an extremely fragmented market with severe price competition and government price control. The pharmaceutical industry in India meets around 70% of the country's demand for bulk drugs, drug intermediates, pharmaceutical formulations, chemicals, tablets, capsules, orals and injectibles. There are about 250 large units and about 8000 Small Scale Units, which form the core of the pharmaceutical industry in India (including 5 Central Public Sector Units). These units produce the complete range of pharmaceutical formulations, i.e., medicines ready for consumption by patients and about 350 bulk drugs, i.e., chemicals having therapeutic value and used for production of pharmaceutical formulations. Following the de-licensing of the pharmaceutical industry, industrial licensing for most of the drugs and pharmaceutical products has been done away with. Manufacturers are free to produce any drug duly approved by the Drug Control Authority. Technologically strong and totally self-reliant, the pharmaceutical industry in India has low costs of production, low R&D costs, innovative scientific manpower, strength of national laboratories and an increasing balance of trade. The Pharmaceutical Industry, with its rich scientific talents and research

capabilities, supported by Intellectual Property Protection regime is well set to take on the international market. The future of Indian pharmaceutical sector looks extremely positive. Indian pharma companies are vying for the branded generic drug space to register their global presence. Several Indian pharmaceutical companies have acquired companies in the US and Europe and many others are raising funds to do so. For example, Ranbaxy acquired Romania's Terapia, Ethimed NV of Belgium and GSK's generic business Allen SpA in Italy. Dr Reddy's acquired German generic drug maker Betapharm. Companies like Glenmark Pharma, Lupin, Aurobindo and Jubilant Organosys are on the lookout for lucrative acquisitions.

Generic Drugs
A generic drug (generic drugs, short: generics) is a drug which is produced and distributed without patent protection. The generic drug may still have a patent on the formulation but not on the active ingredient.

Over The Counter Drug
It is also known as medication drugs. These can be purchased without prescription.

Prescription Drugs
These have to be prescribed or administered by healthcare professionals.

Vaccines Market

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Vaccine manufacturers from all over the world have been involved in a stalemate with governments regarding supply and demand. While governments are reluctant to ensure steady demand for vaccines unless the manufacturers can prove their ability to increase their supply, the latter are apprehensive about increasing production without a guarantee of sustained demand from the governments. Meanwhile, developing nations are increasingly demanding vaccines that are no longer included in the immunization schedules of developed countries. These vaccines will have to be provided at very low costs, which will not be feasible unless the demand can compensate for the low margins. Global vaccines market is estimated at USD10 billion in 2007; human vaccine valued at USD8.3 billion contributes major share ie 83% of the total market and rest 17% is occupied by animal vaccine valued at USD1.7 billion. The US is the leading market, accounting for more than 50% of the global vaccine market. Influenza vaccine is the fastest growing in the adult vaccine segment followed by Hepatitis vaccines. The vaccines market in India in 2006-07 was INR30.53 billion registering a 30.41% growth over the previous year. India’s huge population makes it among the world’s largest market for vaccines of all types. India faces a growing demand for new generation and ‘combination’ vaccines, such as DPT with Hepatitis B, Hepatitis A and Injectable polio vaccine, besides several veterinary and poultry vaccines. Indian vaccines market is dominated by pediatric vaccine with 60% of market share. Combination vaccines are driving the growth of vaccine market in India.

The business of Drug Development
Drug development is a blanket term used to define the entire process of bringing a new drug or device to the Market. It includes Drug discovery / product development, pre-clinical research (microorganisms/animals) and Clinical trials (on humans).

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New Chemical Entities (NCEs)(also known as New Molecular Entities (NMEs)) are compounds which emerge from the process of drug discovery. These will have promising activity against a particular biological target thought to be important in disease; however, little will be known about the safety, toxicity, pharmacokinetics and metabolism of this NCE in humans. It is the function of drug development to assess all of these parameters prior to human clinical trials. A further major objective of drug development is to make a recommendation of the dose and schedule to be used the first time an NCE is used in a human clinical trial ("first-in-man" (FIM) or First Human Dose (FHD)). Many aspects of drug development are focused on satisfying the regulatory requirements of drug licensing authorities. These generally constitute a number of tests designed to determine the major toxicities of a novel compound prior to first use in man. It is a legal requirement that an assessment of major organ toxicity be performed (effects on the heart and lungs, brain, kidney, liver and digestive system), as well as effects on other parts of the body that might be affected by the drug (e.g. the skin if the new drug is to be delivered through the skin). While, increasingly, these tests can be made using in vitro methods (e.g. with isolated cells), many tests can only be made by using experimental animals, since it is only in an intact organism that the complex interplay of metabolism and drug exposure on toxicity can be examined. The process of drug development does not stop once an NCE begins human clinical trials. In addition to the tests required to move a novel drug into the clinic for the first time it is also important to ensure that long-term or chronic toxicities are determined, as well as effects on systems not previously monitored (fertility, reproduction, immune system, etc). The compound will also be tested for its capability to cause cancer (carcinogenicity testing).


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The first Indian pharmaceutical company, Bengal Chemicals and Pharmaceutical Works, which still exists today as one of 5 government-owned drug manufacturers, appeared in Calcutta in 1930. For the next 60 years, most of the drugs in India were imported by multinationals either in fully-formulated or bulk form. The government started to encourage the growth of drug manufacturing by Indian companies in the early 1960s, and with the Patents Act in 1970, enabled the industry to become what it is today. This patent act removed composition patents from food and drugs, and though it kept process patents, these were shortened to a period of five to seven years. The lack of patent protection made the Indian market undesirable to the multinational companies that had dominated the market, and while they streamed out, Indian companies started to take their places. They carved a niche in both the Indian and world markets with their expertise in reverse-engineering new processes for manufacturing drugs at low costs. Although some of the larger companies have taken baby steps towards drug innovation, the industry as a whole has been following this business model until the present. In 2002, over 20,000 registered drug manufacturers in India sold $9 billion worth of formulations and bulk drugs. 85% of these formulations were sold in India while over 60% of the bulk drugs were exported, mostly to the United States and Russia. Most of the players in the market are small-to-medium enterprises; 250 of the largest companies control 70% of the Indian market€. Thanks to the 1970 Patent Act, multinationals represent only 35% of the market, down from 70% thirty years ago. Most pharma companies operating in India, even the multinationals, employ Indians almost exclusively from the lowest ranks to high level management. Mirroring the social structure, firms are very hierarchical. Homegrown pharmaceuticals, like many other businesses in India, are often a mix of public and private enterprise. Although many of these companies are publicly owned, leadership passes from father to son and the founding family holds a majority share.
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Research and Development
Both the Indian central and state governments have recognized R&D as an important driver in the growth of their pharma businesses and conferred tax deductions for expenses related to research and development. They have granted other concessions as well, such as reduced interest rates for export financing and a cut in the number of drugs under price control. Government support is not the only thing in Indian pharma favor, though; companies also have access to a highlydeveloped IT industry that can partner with them in new molecule discovery.

The Indian Pharmaceutical Industry has come a long way from waiting for imports of bulk drugs from global majors for re processing to becoming an industry which is driving product development and breaking new grounds in medicine research worldwide. This transformation can be better gauged in terms of volume numbers where in the industry which was earlier stagnating is now expected to touch a turnover of INR250 billion ($5.7 billion) at the end of the 10th Five Year Plan (2002-2007). Part of this amazing growth story will be propelled by capital investments of around INR100 billion ($2.3 billion), most of which have already been committed to the Government of India. The Indian pharmaceutical industry has a unique amalgamation of three critical factors which make it so attractive for investment thereby adding impetus to growth. - The process patent regime - Price controls - Exemptions to Small Scale Industries (SSIs) The commitment to infrastructure development, technological competency augmentation and a wide array of products has boosted the industry to already
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achieve the $4 billion mark. The implementation of Good Manufacturing Practices has become a further supplement to the industry now producing bulk drugs for all the major therapy segments which are the most in demand. The competencies developed in India in organic synthesis & process engineering have helped derive the most cost effective solutions in time efficient scales and compliant with high quality standards. An important outcome of this was India’s low cost production of anti-retroviral for export to humanitarian and international organizations in needy African countries which brought global recognition and acceptance of the industry as a major player in the global drug producing nations.

It has been well recognized that the global pharmaceutical industry is facing a number of challenges at present. The difficulties the industry is experiencing have forced all drug companies to change their current operation models. They are now forced to pursue more efficient, cost-effective and productive ways to conduct their operations, whether in R&D or manufacturing. The keys for them to make a quick turnaround are to get drug discovered quicker, developed faster, manufactured cheaper and marketed wider. Outsourcing has been proven to be one of the effective solutions for drug companies to quickly turn the situation around as it provides them with the desired efficiency, flexibility and agility. Among all emerging countries for outsourcing, China and India have risen rapidly and become stars in the global pharmaceutical outsourcing arena as both countries possess the unique combination of low cost and quality service. The current global financial crisis has also greatly enhanced the importance of these two countries to many drug companies around the world who are vigorously seeking cost reduction.

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A number of firms around the world have been using strategic alliances to become more competitive globally. The reasons attributed to such alliances vary from economies of scale, increased revenue, cross selling, synergy, tax write-offs, and diversification and resource transfers among others. After the liberalization of Indian economy in 1991, Indian companies have used these strategic alliances to expand into other markets and prepare for increased competition at home. But after joining the World Trade Organization in 1995, India had to change its patent laws by 1 January 2005 to meet its commitments under the WTO's agreement on Trade Related Intellectual Property Rights (TRIPS). In the post-2005 scenario, the pharmaceutical industry has undergone a significant change due to the TRIPS agreement. Though a number of reasons are attributed to these strategic alliances in literature, there is no particular pattern that can be observed in these alliances. Analyzing the Indian Pharmaceutical Industry and the strategic alliances in the recent past and what drives these alliances. A value chain framework has been proposed that analyses the critical capabilities needed along the value chain in the Pharmaceutical Industry, the existing capabilities of the firms and how these alliances are supposed to bridge the capability gap.

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Expansion towards Generic Drugs
The last three years has seen several major shifts in generics company strategies. From 2006 to 2008 a period of high M&A activity was seen as many companies sought to expand geographically and create the scale required to compete with large pharmaceutical companies. Since the global financial crisis the level of deals has declined due to the implications of restricted debt markets and the need to reduce company debt. The global financial crisis has also affected government debt and subsequently healthcare cost containment has become a prominent issue. Many nations and in particular the US is seeking to reduce healthcare costs through promotion of generics and creating better approval pathways for biogenerics.

WHILE MUCH PROGRESS has been made in transforming the health sector since 1994, we begin this first calendar year of the second decade of our freedom with the momentous task of sustaining efforts to improve access to affordable quality medicine. The transformation of the pharmaceutical industry, both in terms of ensuring the quality of medicine and reducing prices of drugs at manufacturing, distribution and retail industry levels has been the most challenging part of the transformation process in the health sector so far. Following broad and intensive consultation, government passed the Medicine and Related Substances Act in 1997 to provide a legislative framework for improving access to affordable medicine. This entails making the entire pricing system on medicine more transparent and capping the prices where necessary. While seeking to reduce the prices at manufacturing and distribution levels, the interventions also sought to remove any incentive that encouraged prescribers and dispensers of medicines to issue more expensive medicines to recoup a better percentage margin. The opponents of the transformation process within the retail pharmacy industry initially argued that the dispensing fee that can be charged by pharmacists was too
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low and would therefore undermine the viability of this industry. In subsequent arguments in court on this matter, they questioned not only the dispensing fee set by government but also the whole idea of regulating prices in order to improve accessibility to medicine. Highly priced medicine is preferred because of better returns when using a percentage mark-up system. The lowering of medicine prices to benefit the consumer is therefore bad news for those who have built their business models on this practice. When applying government pricing regulations on the same medicine quoted above, a pharmacist would simply add 26% on the manufacturer's price of R31.45. This means that a consumer would buy the medicine at R39.63 instead of an unjustifiable R55.43 set by MHS.

WHO guidelines for drug donations
Selection of drugs

Drugs should be based on expressed need, be relevant to disease pattern and be agreed with the recipient.

➢ Medicines should be listed on the country's essential ➢ No returned drugs from patients should be used.

All drugs should have a shelf life of at least 12 months after arrival in the recipient country.

Quality assurance (QA) and shelf life
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Drugs should be from a reliable source and WHO certification for quality of pharmaceuticals should be used.

➢ No returned drugs from patients should be used.

All drugs should have a shelf life of at least 12 months after arrival in the recipient country.

Presentation, packing and labeling

All drugs must be labeled in a language that is easily understood in the recipient country and contain details of generic name, batch number, dosage form, strength, quantity, name of manufacturer, storage conditions and expiry date.

➢ Drugs should be presented in reasonable pack sizes (e.g. no sample or patient starter packs).

Pharmacovigilance (PV) is the pharmacological science relating to the detection, assessment, understanding and prevention of adverse effects, particularly long term and short term side effects of medicines. Generally speaking, pharmacovigilance is the science of collecting, monitoring, researching, assessing and evaluating information from healthcare providers and patients on the adverse effects of medications, biological products, herbalism and traditional medicines with a view to: ➢ Identifying new information about hazards associated with medicines ➢ Preventing harm to patients.

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➢ Pharmacovigilance is particularly concerned with adverse drug reactions,

or ADRs, which are officially described as: "A response to a drug which is noxious and unintended, and which occurs at doses normally used for the prophylaxis, diagnosis or therapy of disease, or for the modification of physiological function."
➢ Pharmacovigilance is gaining importance for doctors and scientists as the

number of stories in the mass media of drug recalls increases. Information and management

Recipients should be informed of all drug donations that are being considered or under way. Declared value should be based on the wholesale price in the recipient country or on the wholesale world market price. Cost of international and local transport, warehousing, etc, should be paid by the donor agency unless otherwise agreed with the recipient in advance.

Risks of medical treatment
➢ While medicines have led to major improvement in the treatment and control of diseases, they also produce adverse effects on the human body from time to time ➢ While many drugs are precisely targeted to the causes and mechanisms of disease, they may also have minor or distressing effects on other parts of the body, or interact negatively with the systems of the particular individual or with other drugs or substances they are taking, or, not work well or at all for some, many or all of those who take them for illness ➢ There is no such thing as a safe drug. There are risks in any intrusion into the human body, whether chemical or surgical. Nothing in this field is
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entirely predictable as the interaction between chemicals and the human body may produce surprises.

Today's business environment is extremely competitive and in economics parlance where perfect competition exists, the profits of the firms operating in that industry will become zero. However, this is not possible because, firstly no company is a price taker (i.e. no company will operate where profits are zero). Secondly, they strive to create a competitive advantage to thrive in the competitive scenario. Michael Porter, considered to be one of the foremost gurus' of management, developed the famous five-force model, which influences an industry. Industry competition Pharma industry is one of the most competitive industries in the country with as many as 10,000 different players fighting for the same pie. The rivalry in the industry can be gauged from the fact that the top player in the country has only 6% market share, and the top five players together have about 18% market share. Thus, the concentration ratio for this industry is very low. High growth prospects make it attractive for new players to enter in the industry. Another major factor that adds to the industry rivalry is the fact that the entry barriers to pharma industry are very low. The fixed cost requirement is low but the need for working capital is high.

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Bargaining power of buyers Enhance over the long term, as product patents come into play from 2005. The unique feature of pharma industry is that the end user of the product is different from the influencer (read doctor). The consumer has no choice but to buy what doctor says. However, when we look at the buyer's power, we look at the influence they have on the prices of the product. In pharma industry, the buyers are scattered and they as such does not wield much power in the pricing of the products. However, government with its policies, plays an important role in regulating pricing through the NPPA (National Pharmaceutical Pricing Authority).

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Bargaining power of suppliers The pharma industry depends upon several organic chemicals. The chemical industry is again very competitive and fragmented. The chemicals used in the pharma industry are largely a commodity. The suppliers have very low bargaining power and the companies in the pharma industry can switch from their suppliers without incurring a very high cost. However, what can happen is that the supplier can go for forward integration to become a pharma company. Companies like Orchid Chemicals and Sashun Chemicals were basically chemical companies, who turned themselves into pharmaceutical companies. Barriers to entry Pharma industry is one of the most easily accessible industries for an entrepreneur in India. The capital requirement for the industry is very low, creating a regional distribution network is easy, since the point of sales is restricted in this industry in India. However, creating brand awareness and franchisee amongst doctors is the key for long-term survival. Also, quality regulations by the government may put some hindrance for establishing new manufacturing operations. Going forward, the impending new patent regime will raise the barriers to entry. But it is unlikely to discourage new entrants, as market for generics will be as huge. Threat of substitutes This is one of the great advantages of the pharma industry. Whatever happens, demand for pharma products continues and the industry thrives. One of the key reasons for high competitiveness in the industry is that as an on going concern, pharma industry seems to have an infinite future.
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However, in recent times, the advances made in the field of biotechnology, can prove to be a threat to the synthetic pharma industry.


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Ranbaxy Laboratories Limited, India's largest pharmaceutical company, is an integrated, research based, international pharmaceutical company, producing a wide range of quality, affordable generic medicines, trusted by healthcare professionals and patients across geographies. Ranked 8th amongst the global generic pharmaceutical companies, Ranbaxy today has a presence in 23 of the top 25 pharmaceutical markets of the world. The Company has a global footprint in 49 countries, world-class manufacturing facilities in 11 countries and serves customers in over 125 countries. In June 2008, Ranbaxy entered into an alliance with one of the largest Japanese innovator companies, Daiichi Sankyo Company Ltd., to create an innovator and generic pharmaceutical powerhouse. The combined entity now ranks among the top 15 pharmaceutical companies, globally. The transformational deal will place Ranbaxy in a higher growth trajectory and it will emerge stronger in terms of its global reach and in its capabilities in drug development and manufacturing.

Vision and Aspirations Ranbaxy is driven by its vision to achieve significant business in proprietary prescription products by2012 with a strong presence in developed market. The company aspires to be amount the top 5 global generic player and aims at achieving global sales of US$ 5bn by 2012. Financials Ranbaxy was incorporated in 1961 and went public in 1973. For the year 2008, the Company recorded Global Sales of US $ 1,682 Mn, reflecting a growth of 4%. The Company has a balanced mix of revenues from emerging and developed markets that contribute 54% and 39% respectively. In 2008, North America, the Company's largest market contributed sales of US $ 449 Mn, followed by Europe
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garnering US $ 330 Mn. Business in Asia is going strong with India clocking sales of around US $ 300 Mn with market leadership in several business segments, backed by strong brand-building skills. Strategy Ranbaxy is focused on increasing the momentum in the generics business in its key markets through organic and inorganic growth routes. Growth is well spread across geographies with focus on emerging markets The Company continues to evaluate acquisition opportunities in India, emerging and developed markets to strengthen its business and competitiveness. R&D Ranbaxy views its R&D capabilities as a vital component of its business strategy that will provide a sustainable, long-term competitive advantage. The Company has a pool of over 1,200 scientists engaged in path-breaking research. Ranbaxy is among the few Indian pharmaceutical companies in India to have started its research program in the late 70's, in support of its global ambitions. A first-of-its-kind world class R&D centre was commissioned in 1994. Today, the Company's multi-disciplinary R&D centre at Gurgaon, in India, houses dedicated facilities for generics research and innovative research. The robust R&D environment for both drug discovery and development reflects the Company's commitment to be a leader in the generics space offering value added formulations based on its New Chemical Entity (NCE) research capabilities. The new drug research areas at Ranbaxy include anti-infectives, inflammatory / respiratory, metabolic diseases, oncology, urology and anti-malaria therapies. The Company has signed collaborative research programs with GSK and Merck. People The Company’s business philosophy based on delivering value to its stakeholders constantly inspires its people to innovate, achieve excellence and set new global benchmarks. Driven by the passion of its over 12,000 strong multicultural workforce comprising over 50 nationalities, Ranbaxy continues to aggressively pursue its mission to become a Research-based International Pharmaceutical Company and attain a true global leadership position.

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Life at Ranbaxy
A career at Ranbaxy means an opportunity for ample learning & growth. It offers avenues to work across the globe along side the finest minds. The Company offers a challenging assignment, a world class working environment, professional management, competitive salaries, stock options along with exceptional rewards. If you have an appetite for challenges, we have an exciting career for you

Opportunities The global spread of Ranbaxy and the blazing growth in business provides ample opportunities for our employees to build careers in various fields. Opportunities have never been a constraint for the deserving. We believe in employee growth that goes beyond vertical movements and change in designations. Potential and performance are the pillars of career progression at Ranbaxy. A robust development process supports this. Our managers will generally have the opportunity to live and work in different countries; such international experience will help them better understand our complex business and grow both personally and professionally.

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Salary and Benefits Salaries and other benefits in Ranbaxy are comparable with the best in the industry and one can expect to be rewarded highly if the performance is consistently outstanding. Group Life Insurance, Medical Insurance and Pension plans are a few examples of the benefits we provide to our employees and their dependents with adequate financial protection on long term basis. Stock Ownership The ownership in business is fundamental to personal progression, we encourage you to take ownership of your investments. Stock ownership is a part of the compensation for our managers early in their career at Ranbaxy: you will see the business results straight in your pay slip!

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Board of Directors

Dr.Tsutomu Une Chairman Non Executive and Non independent Director Mr.Atul Sobti CEO and managing Director

Mr.Takashi Soda Non Executive Director

Mr.Rajesh V. Shah Independent Director

Executive Team Mr. Atul Sobti Chief Executive Officer & Managing Director

Mr. Ramesh L. Adige President, Corporate Affairs & Global Corporate Communications Mr. Dipak Chattaraj
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President, Corporate Development & Strategy

Dr. Sudarshan K. Arora President, R&D (Generics, NDDS & Drug Development)

Mr. Omesh Sethi Chief Financial Officer

Mr. Arun Sawhney President, API GBU, Global Manufacturing & Supply Chain Mr. Bhagwat Yagnik Head – Global Human Resources Mr. David Briskman Chief Information Officer

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Promotional mix
It is helpful to define the five main elements of the promotional mix before considering their strengths and weakness Advertising Advertising is any paid form of non personal communication of ideas and products in the ‘prime media’ i.e. television, newspaper, magazines, billboard posters, radio, cinema etc. Advertising is intended to persuade and to inform. Direct marketing Direct marketing creates direct relationship between customer and the business on an individual basis. Personal selling Personal selling refers to oral communication with potential buyers of a product with the intention of making of sale. Sales promotion Sales promotion refers to the provision of incentives to customer or the distribution channel to stimulate demand for a product. Public relation Public relation is the communication of brands , product or business by placing information about it in the media without paying for the time or media space directly.
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Pharmaceutical marketing is the business of advertising or otherwise promoting the sale of pharmaceuticals or drugs. Mass marketing of prescription medications was rare until recently, however. It was long believed that since doctors made the selection of drugs, mass marketing was a waste of resources; specific ads targeting the medical profession were thought to be cheaper and just as effective. This would involve ads in professional journals and visits by sales staff to doctor’s offices and hospitals. An important part of these efforts was marketing to medical students. The marketing of medication has a long history. The sale of miracle cures, many with little real potency, has always been common. Marketing of legitimate nonprescription medications, such as pain relievers or allergy medicine, has also long been practiced. Mass marketing of prescription medications was rare until recently, however. It was long believed that since doctors made the selection of drugs, mass marketing was a waste of resources; specific ads targeting the medical profession were thought to be cheaper and just as effective. This would involve ads in professional journals and visits by sales staff to doctor’s offices and hospitals. An important part of these efforts was marketing to medical students. Direct and indirect marketing to health care providers

Physicians are perhaps the most important component in pharmaceutical sales. They write the prescriptions that determine which drugs will be used by the
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patient. Influencing the physician is the key to pharmaceutical sales. Historically, this was done by a large pharmaceutical sales force. A medium-sized pharmaceutical company might have a sales force of 1000 representatives. The largest companies have tens of thousands of representatives around the world. Sales representatives called upon physicians regularly, providing information and free drug samples to the physicians. This is still the approach today; however, economic pressures on the industry are causing pharmaceutical companies to rethink the traditional sales process to physicians. More recently, the Partners Healthcare, Massachusetts' largest hospital and physician network, will adopt new guidelines prohibiting physicians and researchers from accepting gifts from pharmaceutical manufacturers. This will include meals or individual drug samples, and also drug samples left by companies will be distributed through a centralized system, while educational programs and fellowships will also be required to be centrally reviewed and approved. Pharmaceutical companies are developing processes to influence the people who influence the physicians. There are several channels by which a physician may be influenced, including self-influence through research, peer influence, direct interaction with pharmaceutical companies, patients, and public or private insurance companies. There are also web based instruments that can be used to determine the influencers and buying motives of physicians. There are a number of firms that specialize in data and analytics for pharmaceutical marketing.

Individual research Physicians discover pharmaceutical information from such sources as the Physician's Desk Reference and online sources such as PDR.net, as well as via PDAs with applications.

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They also rely upon pharmaceutical-branded e-detailing sites, pharmaceutical sales and non-sales representatives, and scholarly literature. Scholarly literature can be in the form of medical journal article reprints, often delivered by sales representatives at their place of employment or at conference exhibitions.

Peer influence  Key opinion leaders Key opinion leaders (KOL), or "thought leaders", are respected individuals, such as prominent medical school faculty, who influence physicians through their professional status. Pharmaceutical companies generally engage key opinion leaders early in the drug development process to provide advocacy and key marketing feedback.Some pharmaceutical companies identify key opinion leaders through direct inquiry of physicians (primary research).  Colleagues Physicians acquire information through informal contacts with their colleagues, including social events, professional affiliations, common hospital affiliations, and common medical school affiliations. Some pharmaceutical companies identify influential colleagues through commercially available prescription writing and patient level data.Doctor dinner meetings are an effective way for physicians to acquire educational information from respected peers. These meetings are sponsored by some pharmaceutical companies. Direct physician contact with pharmaceutical sales representatives A pharmaceutical representative will often try to see a given physician every few weeks. Representatives often have a call list of about 200 physicians with 120 targets that should be visited in 1-2 week cycles.
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Because of the large size of the pharmaceutical sales force, the organization, management, and measurement of effectiveness of the sales force are significant business challenges. Management tasks are usually broken down into the areas of physician targeting, sales force size and structure, sales force optimization, call planning, and sales forces effectiveness.

A few pharmaceutical companies have realized that training sales representatives on high science alone is not enough, especially when most products are similar in quality. Thus, training sales representatives on relationship selling techniques in addition to medical science and product knowledge, can make a difference in sales force effectiveness. Specialist physicians are relying more and more on specialty sales reps for product information, because they are more knowledgeable than primary care reps. Physician targeting Marketers attempt to identify the universe of physicians most likely to prescribe a given drug. Historically, this was done by measuring the number of total prescriptions (TRx) and new prescriptions (NRx) per week that each physician writes. This information is collected by commercial vendors. The physicians are then "deciled" into ten groups based on their writing patterns. Higher deciles are more aggressively targeted. Some pharmaceutical companies use additional information such as: profitability of a prescription (script),accessibility of the physician,

 tendency of the physician to use the pharmaceutical company's drugs,  effect of managed care formularies on the ability of the physician to prescribe a drug,
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the adoption sequence of the physician (that is, how readily the physician adopts new drugs in place of older, established treatments), and Influence that physicians have on their colleagues.

 the tendency of the physician to use a wide palette of drugs

Data for drugs prescribed in a hospital are not usually available at the physician level. Advanced analytic techniques are used to value physicians in a hospital setting

Opinion Leader Influence Mapping Alternatives to segmenting physicians purely on the basis of prescribing do exist, and marketers can call upon strategic partners who specialize in delineating which characteristics of true opinion leadership, a physician does or does not possess. Such analyses can help guide marketers in how to optimize KOL engagements as bona fide advisors to a brand, and can help shape clinical development and clinical data publication plans for instance, ultimately advancing patient care. Sales force size and structure Marketers must decide on the appropriate size of a sales force needed to sell a particular portfolio of drugs to the target universe. Design the optimal reach (how many physicians to see) and frequency (how often to see them) for each individual physician. Decide how many sales representatives to devote to office and group practice and how many to devote to hospital accounts. Additionally, customers are broken down into different classes, each class is differentiated by their prescription behaviour and of course, their business potential. Direct marketing to patients

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Recent years have seen an increase in mass media advertisements for pharmaceuticals. Expenditures on direct-to-consumer (DTC pharmaceutical advertising) have more than quintupled in the last seven years since the FDA changed the guidelines.

While many pharmaceutical companies have successfully deployed a plethora of strategies to target the various customer types, recent business and customer trends are creating new challenges and opportunities for increasing profitability. In the pharmaceutical and healthcare industries, a complex web of decision-makers determines the nature of the transaction (prescription) for which direct customer (doctor) of pharma industry is responsible . Essentially, the end-user (patient) consumes a product and pays the cost .

Use of medical representatives for marketing products to physicians and to exert some influence over others in the hierarchy of decision makers has been a timetested tradition. Typically, sales force expense comprises an estimated 15 percent to 20 percent of annual product revenues, the largest line item on the balance sheet. Despite this other expense, the industry is still plagued with some very serious strategic and operational level issues. From organizational perspective the most prominent performance related issues are Enlisted below:
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Increased competition and unethical practices adopted by some of the propaganda base companies.

➢ Low level of customer knowledge (Doctors, Retailers, Wholesalers).

Poor customer (both external & internal) acquisition, development and retention strategies

➢ Varying customer perception. ➢ The number and the quality of medical representatives ➢ Very high territory development costs. ➢ High training and re-training costs of sales personnel. ➢ Very high attrition rate of the sales personnel. ➢ Busy doctors giving less time for sales calls.

Poor territory knowledge in terms of business value at medical representative level .

➢ Unknown value of revenue from each retailer in the territory

Absence of ideal mechanism of sales forecasting from field sales level, leading to huge deviations

Patents Patents are a vital aspect of the global pharma industry. Patent protection is essential to spur basic R&D and make it commercially viable. But, only the developed nations endorse product patents. Most third world countries have patent laws but enforcement is totally lax.
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New Drug Approval (NDA) Prior to launching its products in any country, a pharma company undertakes patent registration to protect its own interests. To protect the interests of the consumers, it is necessary that the product be approved by the drug authorities in that country. Mostly the process for seeking approval is initiated alongside the patent registration process.

WTO Due to pressure from the developed countries, across the world uniformity in patent laws is being implemented under WTO (World Trade Organization - earlier GATT i.e. General Agreement on Tariffs & Trade). Presently, different countries have different patent types and life period. WTO has decided upon a product patent life of 20 years in all countries.

RESEARCH & DEVELOPMENT (R&D) The pharmaceutical industry is characterized by heavy R&D expenditure. It is only the large pharmaceutical companies who can allocate significant resources for R&D to introduce new products. As the products are an outcome of significant R&D expenditures incurred by these companies, they have their products patented. The patent allows the companies concerned to wield immense pricing power for their new products.


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The level of competition on day to day basis in very high in Acute segment however the degree of competition in not as much as high in Chronic therapy area. As doctor has to prescribe drug for a long time in chronic cases and patient is suppose to consume it without any change of brand. While in acute cases doctor is changing brands on day to day basis. In acute area however there is a large competition from local and propaganda companies.


What’s the secret behind successes? For one, the company operates in niche formulations (chronic) segments such as psychiatry, cardiovascular, gastroenterology and neurology. While most of the top Indian companies have focused on antibiotics and anti– invectives (acute), Pharma focused on therapeutic areas such as depression, hypertension and cancer. The company has introduced the entire range of products and has gained leadership position in each of these areas. Being a specialty company insulates Sun Pharma from the industry growth. The first quarter results for FY02 explain this to some extent. While the industry was affected to a large extent by a slowdown in the domestic formulations market, Pharma logged a growth of 26% in revenues.

The bases of marketing strategies can be best described in these two models in both acute and chronic segments:
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Super Core Model Involving the search for, and distribution of a small number of drugs from Therapy Chronic Area that achieve substantial global sales. The success of this model depends on achieving large returns from a small number of drugs in order to pay for the high cost of the drug discovery and development process for a large number of patients. Total revenues are highly dependant on sales from a small number of drugs. This model incorporates highly specialized approach in all the manner . Initially the competition is seems more at entry level but since growth is stable and more in this area; Every company is striving very hard to enter in this area. The major strategy in this model involves right focus to highly specialized customer by well trained team.

Core Model In which a larger number of drugs from Acute Threapy Area are marketed to big diversified markets. The advantage of this model is that its success is not dependant on sales of a small number of drugs. Here presenting a large number of product and taking the advantage of opportunity cost is one of the important strategy Other strategy includes daily reminders to cross the perceptual filter and get the brand name in to the sub-conscious state of mind.

Job description

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Medical sales representatives are a key link between medical and pharmaceutical companies and healthcare professionals. They work strategically to increase the awareness and use of a company’s pharmaceutical and medical products in settings such as general practices, primary care trusts and hospitals. Based in a specific geographical location, and usually specializing in a particular product or medical area, medical sales representatives try to ensure clients are aware of, buy and subsequently use their company's products. They may also make presentations and organize group events for healthcare professionals, as well as working with contacts on a one-to-one basis. Typical work activities In particular, typical work activities include:

Arranging appointments with doctors, pharmacists and hospital medical teams, which may include pre-arranged appointments or regular 'cold' calling; Making presentations to doctors, practice staff and nurses in GP surgeries, hospital doctors, and pharmacists in the retail sector. Presentations may take place in medical settings during the day or may be conducted in the evenings at a local hotel or conference venue; organizing conferences for doctors and other medical staff;

 building and maintaining positive working relationships with medical staff and supporting administration staff e.g. receptionists;  managing budgets (for catering, outside speakers, conferences, hospitality, etc);  keeping detailed records of all contacts and reaching (and if possible exceeding) annual sales targets;

Planning work schedules and weekly and monthly timetables. This may involve working with the area sales team or discussing future targets with the area sales manager. Generally, medical sales executives have their own
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regional area of responsibility and plan how and when to target health professions;  regularly attending company meetings, technical data presentations and briefings;  keeping up with the latest clinical data supplied by the company and interpreting, presenting and discussing this data with health professionals during presentations;  monitoring competitor activity and competitors' products;  developing strategies for increasing opportunities to meet and talk to contacts in the medical and healthcare sector  staying informed about the activities of health services in a particular area;

Working with team managers to plan how to approach contacts and creating effective business plans for making sales in a particular area.

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➢ ➢ ➢ ➢

Low cost of production. Large pool of installed capacities Efficient technologies for large number of Generics. Large pool of skilled technical manpower.

➢ Increasing liberalization of government policies.
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➢ ➢ ➢ ➢ ➢

Fragmentation of installed capacities. Low technology level of Capital Goods of this section. Non-availability of major intermediaries for bulk drugs. Lack of experience to exploit efficiently the new patent regime. Very low key R&D.

➢ Low share of India in World Pharmaceutical Production

Very low level of Biotechnology in India and also for New Drug Discovery Systems.

Lack of experience in International Trade.

➢ Low level of strategic planning for future and also for technology forecasting.


Aging of the world population.

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➢ ➢ ➢ ➢ ➢ ➢ ➢ ➢ ➢ ➢ ➢ ➢

Growing incomes. Growing attention for health. New diagnoses and new social diseases. Spreading prophylactic approaches. Saturation point of market is far away. New therapy approaches. New delivery systems. Spreading attitude for soft medication (OTC drugs). Spreading use of Generic Drugs. Globalization Easier international trading. New markets are opening.

➢ ➢ ➢ ➢ ➢

Containment of rising health-care cost. High Cost of discovering new products and fewer discoveries. Stricter registration procedures. High entry cost in newer markets. High cost of sales and marketing.

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➢ Competition, particularly from generic products.

More potential new drugs and more efficient therapies.

➢ Switching over form process patent to product patent.

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“To become a research based international pharmaceutical company”.


➢ Achieving customer satisfaction is fundamental to our business. ➢ Provide product and service of the highest quality.

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➢ Practice dignity and equity in relationship and provide opportunity for people to realize their potential. ➢ Foster mutually beneficial relation, with all our business partner. ➢ Manage our operation with high concern for strategy and environment. ➢ Be a responsible corporate citizen.


“Achieve significant business in proprietary prescription product by 2012 a strong presence in developed market”.


➢ Aspire to be a $5bn company. ➢ Become a top global generic player. ➢ Significant income from proprietary product.

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Structure of Ranitidine hydrochloride:

Ranitidine Hydrochloride- C13H22N4O3S.HCl

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RANITIDINE 150 mg: Each tablet contains ranitidine hydrochloride equivalent to 150 mg ranitidine.

Pharmacological Action:

Ranitidine hydrochloride is a histamine H2-receptor antagonist that inhibits stomach acid production. It is commonly used in treatment of peptic ulcer disease (PUD) and gastro esophageal reflux disease (GERD). Ranitidine is also used alongside antihistamines for the treatment of skin conditions such as hives.

Indications: Ranitidine is indicated for the treatment of duodenal ulcers, benign gastric ulcer including prevention of duodenal ulceration associated with non-steroidal antiinflammatory agents, reflux oesophagitis. To minimize the consequences of acids-aspiration syndrome during anesthesia, ranitidine is used as premedication to reduce volume and acid content of gastric secretion.

Doses and Direction for Use:

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Peptic ulceration: Usual dosage is 150 mg twice daily, taken in the morning and before retiring.

➢ Reflux-oesophagitis: Treatment for 8 up to 12 weeks with RANITIDINE 150 mg twice daily. ➢ Maintenance treatment: Patients, particularly those with a history of a recurrent ulcer, should be advised to take 150 mg at bedtime. ➢ Anesthesia: 300 mg RANITIDINE given 2 hours before induction, in order to reduce the volume and acid content of gastric secretion, will minimize the consequences of the acid aspiration syndrome. Side -Effects: Headache, lethargy, diarrhea, constipation, nausea, vomiting, and skin rash such kind of Side-effects arise.


‘HISTAC’ is a product name of Ranbaxy Brand which is made up from ‘Ranitidine-150mg’ molecule


 ZINETAC------------GSK
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          

ULTAC-------------- CIPLA ULFAST-------------SUN Pharma. INTAC---------------DWD PEPLOC-------------ZYDUS CADILA MANOTAC---------MANO R-LOC---------------ZYDUS ALIDAC RENITAB----------MAICROLAB ULCITAB----------THEMIS ZORAN------------DR.REDDY ZOMOTAC-------EMCURE RANTAC---------J.B.CHEMECALS

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Sample size: 20 Doctors of different age group situated in different parts of Nagpur city. Objective: major objective of the study was
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➢ To study the culture of Ranbaxy Lab. ➢ To study the competitors of ‘Histac’ in pharma market

Types of Research Data source: Primary data was used to for the analysis and drawing conclusion. Secondary data was used for the study of overall pharma market.

Research Instrument: A questionnaire containing a set of questions was presented to the Doctors for their answering.

Contact method: All the respondents were personally interviewed.

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Top 20 Molecules
➢ Simvastatin

➢ AmoxiClav Potassium ➢ Isotretinoin
➢ Amoxycillin and Combinations

➢ Ciprofloxacin and Combinations

➢ Ketorolac Tromethamine

➢ Omeprazole and Combinations

➢ Cefuroxime Axetil

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➢ Cephalexin

➢ Loratadine and Combinations

➢ Clarithromycin

➢ Ginseng+Vitamins

➢ Diclofenac and Combinations

➢ Ranitidine

➢ Cefaclor

➢ Cefpodoxime Proxetil

➢ Efavirenz

➢ Atorvastatin and Combinations

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➢ Fenofibrate

➢ Ofloxacin and Combinations

➢ Cipla Ltd. ➢ Dr. Reddy'S Laboratories Ltd ➢ Nicholas Piramal India Ltd. ➢ Glaxosmithkline Pharmaceuticals Ltd ➢ Cadila Healthcare Ltd. ➢ Pfizer Ltd. ➢ Sun Pharmaceutical Inds. Ltd ➢ Wockhardt Ltd ➢ Aventis Pharma Ltd

➢ Biocon Ltd

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➢ Indian companies are putting their act together to tap their retail generic

market in the regulated high margin markets of the developed countries.Due to size the US market will remain the most lucrative market for the Indian companies
➢ Indian drug market, with their chemistry skills and low cost manufacturing

have an edge in the business Indian firms are argually the worlds best in drug development with their superiority establishsed in the process development ,they are refining their legal skills to fight the innovator companies in patent challenges .The other important ingredients in marketing/ distribution. ➢ Ranbaxy holds its streingths in Active pharma Ingredients (API’s) and formulation development manufacturing in both the domestic and international market.Ranabaxy is also major exporter of technology which is presently sold companies in china, Canada ,germany, UK,USA ,many more

From above diagrammatic representation it is found that opinion of Doctors towards Ranbaxy, Good are 28% and Best is 72%

➢ Selection possibility of antiulcerant drug for acidity patients all about nearer to same

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Histac- 37% Zinetac- 35% Ranatac- 32% Ultac- 28% CONCLUSION
There can be various ways through which a business organization can achieve success in the market, but all those ways can be comprised into as above, then it can be rightly said that it revolves specifically around three parties or more; the triangular linkages or the relationship between these three parties (company, customers and competitors) determine the success and failure of business organization. In the medium to long run, the domestic pharmaceutical market will be largely driven by the increasing prevalence of chronic segment. The basis of success in any competitive context can be, at the most, elemental level commercial success; and commercial success can be derived either from a cost advantage or a value advantage or ideally from a combination of both. In other words, the organization with Competitive Advantage tends to be the cost leader in the industry or a seller of most differentiated products amongst all the players. At last the role of supply chain is very prominent in both the phases (in acute as well as in chronic). But the successes of any pharmaceutical industry; when a company changes its concentration from “Acute” to “Chronic” therapy market depend on competitiveness of supply chain. Supply Chain Managers can provide considerable value to their companies by understanding the customers' delivery requirements. A very powerful tool for understanding these requirements is account segmentation. A company can use account segmentation to identify market segments Such as Acute & Chronic therapy market. Which is well positioned to serve and then organize its product range and even SKU’s and service in a superior way.

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➢ A Textbook of Marketing management ➢ A Textbook of Marketing communication

www.ranbxy.com www.en.wikipedia.org/wiki/ranbaxy www.bharatbook.com/.detail.asp?=44690 www.news.pharma-mkting.com/ www.pharmabiz.com/article/detnews

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Q1-How many patients do you treat in a single day? 1) 1-10, 2) 11-20, 3) 21-30, 4) 31-40

Q2-What is your opinion about Ranbaxy Products quality? 1) Good 2) Best 3) Poor 4) Bad

Q3-How many Ulcer Disease patients do you treat in a single day? 1) 1-10, 2) 11-20, 3) 21-30, 4) 31-40

Q4-Mostly following which kind of drug does preferring for ulcer disease patient? 1) Histac 2) Zinetac 3)Rantac 4)Ultac

Q5-What is your view about effect of Histac Tab.? 1) Good 2) Best 3) Average 4) Poor
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6) Is Ranbaxy providing you free samples of new medicinal products? 1) Yes 2) No

7) Are there hazardous effects of Histac Tab.? 1) Yes 2) No


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Advertising. Any form of marketing communication in the paid media. Agent. A channel institution which represents one or more suppliers for a fee considerations. Budget. An amount of money set aside to cover the total cost of a communication campaign or other marketing activity. Comparative advantage. One country enjoying a lower production ratio (input to outputs) than another country under total specialization. Competition. A product, organization or individual, in either the same or another category which can be directly substituted one for the other in fulfilling the same needs or wants. Competitive strategy. The adoption of a specific target market and marketing mix stance in the market place. Cooperative. A collection of organizations or individuals, pooling their resources in order to gain commercial or non-commercial advantage in buying, selling or processing goods and/or services. Culture. The sum total of learned behavioral characteristics or traits which are manifest and shared by members of a particular society. Distribution channel. An institution through which goods or services are marketed giving time and place utilities to users. .Exporting. The marketing of surplus goods produced in one country into another country.

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General Agreement on Tariffs and Trade (GATT). An institutional framework producing a set of rules and principles with the intention of liberalizing trade Generic Drugs. A generic drug (generic drugs, short: generics) is a drug which is produced and distributed without patent protection. The generic drug may still have a patent on the formulation but not on the active ingredient. Global environment. All semi or uncontrollable factors which a marketer has to account for in carrying out global operations. Global marketing. Marketing on a worldwide scale reconciling or taking commercial advantage of global operational differences, similarities and opportunities in order to meet global objectives. .International products. Goods or services seen as having extended potential into other markets. Joint ventures. An enterprise in which two or more investors share ownership and control over property rights and operations. Licensing. A method of foreign operation cooperation whereby an organisation in one country agrees to permit a firm in another country to use the manufacturing, processing, trademark, know-how or some other skill provided by the licensor. Local products. Goods or services seen only suitable in one single market. Market entry. The way in which an organization enters foreign markets either by direct or indirect export or production in a foreign country. Market positioning. The adoption of a specific market stance, either leader, challenger, follower, flanker or adopter, vis a vis competition. Marketing. Planning, executing and controlling the conception, pricing, promotion and distribution of ideas, goods and services in order to build lasting, mutually profitable exchange relationships satisfying individual and organisational objectives. Media. Any paid for communication channel including television, radio, posters etc.. Multinational products. Goods or services adapted to the perceived unique characteristics of national markets. Over The Counter Drug. It is also known as medication drugs. These can be purchased without prescription.

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Physical distribution. The act and functions of physically distributing goods and services including the elements of transport, warehousing and order processing. Prescription Drugs. These have to be prescribed or administered by healthcare professionals Primary data. Unpublished data from individuals or organizations. Product organization. A form of international organizational structure whereby executives in functional areas are given global responsibility. Product strategy. A set of decisions regarding alternatives to the target market and the marketing mix given a set of market conditions. Product. A good or service offered by an organization which affords a bundle of benefits both objective (physical) and subjective (image) to a user. Promotion. The offer of an inducement to purchase, over and above the intrinsic value or price of a good service. Retailer. A channel institution which acts as an intermediary between other channel institutions and the end user and who usually breaks bulk, charging a margin for its services. Secondary data. Published accessible data from a variety of sources. Self reference criterion. Perceptual distortion brought about by an individual's own cultural experience. Tariff. An instrument of terms of access normally the imposition of a single or multiple excise rates on a imported good. Wholesaler. A channel institution which purchases and sells in bulk from either original suppliers and/or other channel intermediaries, charging a margin for its services.

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NCE- New Chemical Entities QA- Quality assurance PV- Pharmacovigilance PDR -Physician's Desk Reference KOL- Key opinion leaders DTC-direct-to-consumer PUD- peptic ulcer disease GERD-gastro esophagel reflux disease

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