Lilly/Ranbaxy Review JV Investments
Ranbaxy Laboratories of India and US firm Eli Lilly are consideringscaling down the investment and size of their joint ventures in India and the USA (Marketletters passim), which the two firms decided to establish in 1995. The Indian venture was set up as an R&D and manufacturing JV, while the US unit is involved in marketing, notably products (essentially generics) developed by the Indian JV as well as certain Lilly and Ranbaxy products.
Total investment originally envisaged was $90 million. However, senior Ranbaxy managers say a reduction is under consideration because the US generics market is not now as lucrative as it was thought to be two years ago. A Ranbaxy source said that the Clinton health care program has not taken off, and conditions are seen to be "not very favorable."
The original product portfolio is also being reviewed and the number of products to be manufactured and launched is to be reduced.
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