Ranbaxy Laboratories today said Arun Sawhney has taken over as the Managing Director of the company, replacing Atul Sobti, who resigned on August 12.

Sawhney, who was earlier President, global pharmaceutical business of the company, has been appointed as MD for a period of three years, Ranbaxy said.

BSE  |  NSE Price

Also Read   Related Stories News Now - Sun Pharma gets FDA nod for anti-depression drug - Reversing fortunes - Aventis Pharma to introduce drug for prostate cancer next yr - USFDA assures of assistance on training for medical devices - Ranbaxy net slumps 53% - Atul Sobti quits Ranbaxy, Sawhney takes over

Also Read   Related Stories News Now - Markets end flat - SAIL to add 5 mn tonne capacity in FY13 - NHPC FY12 net up 28% at Rs 2,772 cr - Aarti Industries Q4 up nearly 27% at Rs 28.24 crore - BPCL posts four-fold jump in Q4 net at Rs 3,963 cr More

Besides, he is one of the founder members of the Pharmaceuticals Export Promotion Council (Pharmexcil).

His appointment comes after Sobti, who joined the company in 2005 quit from his position as Managing Director and CEO in a surprise development, citing differences with the management of Japanese parent Daiichi Sankyo.

Sobti was brought in to replace Malvinder Mohan Singh, who also left the company prematurely despite agreeing to a term of five years as MD after selling off his family's stake in 2008 for over Rs 10,000 crore. Singh is also understood to have left Ranbaxy due to differences with the Japanese management.

Explaining reasons for his exit, Sobti had said: "There are opinions to run a company. When you believe you don't have a consensus, you move out. The differences were substantial and basic."

This is the second major change in top management in the Gurgaon-based company after Daiichi Sankyo bought a 63.92 per cent stake for about Rs 22,000 crore in Ranbaxy in 2008.

Sawhney takes over at a time when Ranbaxy is trying to sort out issues over banning of its two plants at Dewas (Madhya Pradesh) and Paonta Sahib (Himachal Pradesh) by the USFDA over for non-compliance of manufacturing norms.
   
Over 30 generics drugs produced at the two plants were banned from the US market in 2008.
   
Ranbaxy exports its products to 125 countries with ground operations in 46 and manufacturing facilities in seven countries.

The company's shares were trading at Rs 489.90 on Bombay Stock Exchange in the late afternoon trade, up 3.02 per cent from its previous close.

New Ipad Application :Business Standard's all new IPad App Click here to download for free Other Stories      - Markets end flat - SAIL to add 5 mn tonne capacity in FY13 - NHPC FY12 net up 28% at Rs 2,772 cr - Aarti Industries Q4 up nearly 27% at Rs 28.24 crore - BPCL posts four-fold jump in Q4 net at Rs 3,963 cr

Tags : Ranbaxy Laboratories | USFDA | Managing Director | Arun Sawhney | Atul Sobti | Pharmaceuticals Export Promotion Council | generic drugs | BSE   Read Business news in  Advertisements -  Journey on, We are by Your Side. Click here to know more -  2 Lac Apartments, 1 Lac House / Plots. Click here -  Benefits Upto Rs. 2.36 Lakhs on the Fully Loaded TJet Petrol. -  The Best Seller is Also the No. 1 in Mileage. Click here -  Watch The Film Here. Click here to know more.. -  Leader in Passenger Car & Automobile Tyres. Click here -  1 billion in saving for Unilever without any tangles. -  A Brand New Server at a Price That Fits Your Budget. Click here -  Learn How One City is Running on FOOD SCRAPS. -  One Partnership Endless Possibilities. Click here to know more -  Helping doctors detect diseases earlier, saving costs & extending lives. -  36 Lakhs can get you a pool of Luxuries. Click here -  Which is the best plan for your daughter -  Check out the TRUE COLOURS of your Stocks, Now for FREE! -  One of the leading business schools in the world.Know More