Management rejig at Ranbaxy; Arno Gessner replaces Dale Adkisson
Zee Media Bureau
New Delhi: Pharma major Ranbaxy has elevated Arno Gessner to the position of global quality and compliance head after Dale Adkisson has stepped down from the post, a business newspaper has reported.
Meanwhile the company has made Alexander Gebauer as its new head of global research and development, the paper added.
The management rejig at Ranbaxy assumes significance ahead of the $4-billion merger of Ranbaxy Laboratories Ltd with Sun Pharmaceutical Industries Ltd.
The combination of Sun Pharma and Ranbaxy creates the fifth-largest speciality generics company in the world and the largest pharmaceutical company in India.
Sun Pharma, in April, had announced its plan to acquire rival Ranbaxy from its Japanese parent, Daiichi Sankyo, in an all-stock deal valued at $3.2 billion. Besides, the deal also involves a debt component of $800 million.
The transaction valued Ranbaxy at 2.2 times its $1.8-billion revenue for 2013, or about Rs 457 per share.
The combined entity will have operations in 65 countries, 47 manufacturing facilities across five continents, and a significant platform of speciality and generic products marketed globally.
With PTI Inputs