Malvinder Mohan Singh
Malvinder Mohan Singh is an Indian businessman with the Fortis health care , Ranbaxy and Religare business. He is a former chairman and CEO of Ranbaxy Laboratories, an Indian unit of Japanese drugmaker Daiichi Sankyo, who resigned in 2009 after Ranbaxy posted losses and after Daiichi Sankyo decided to get more actively involved in the newly acquired Indian unit.
Malvinder Mohan Singh is one of the son of Dr. Parvinder Singh and the grandson of Bhai Mohan Singh, the founder of Ranbaxy. He and his brother Shivinder Singh, who in 1999 upon the death of their father inherited their family's 33.5% stake in Ranbaxy, are among the twenty richest Indians.
Malvinder Singh's tenure as CEO of Ranbaxy starting in 2006 is controversial. Corporate culture of fraud continued unchecked under his tenure. In November 2006, Malvinder Singh led a delegation to FDA headquarters to try to reverse the decision to accept new drug applications from Ranbaxy. This attempt failed as FDA asked Ranbaxy to turn over audits done by its outside consultant, Parexel, which the company was claiming were confidential. The meeting ended in a standoff. Soon thereafter Mr. Singh decided to cash in. On 11 June 2008, Singh stunned the Indian business world by announcing that he and his brother were selling their 34% stake in Ranbaxy to the Japanese drugmaker Daiichi Sankyo for $2 billion.
|Wikimedia Commons has media related to Malvinder Mohan Singh.|
- "Will The Singh Billionaire Brothers Make It?". Forbes. Retrieved 16 December 2014.
- "UPDATE1-Daiichi Sankyo replaces head of its Ranbaxy unit". Reuters. 24 May 2009. Retrieved 6 April 2013.
- "40 Years Ago... And now: Ranbaxy grew with liberal regimes, moving out of family control". Business Standard. Retrieved 16 December 2014.
- Forbes.com: India's Richest 2004
- "Class Up at Doon | Anjali Puri". Outlookindia.com. Retrieved 6 April 2013.
- "List of Public Companies Worldwide, Letter – Businessweek – Businessweek". Investing.businessweek.com. Retrieved 6 April 2013.
- http://www.forbes.com/profile/malvinder-shivinder-singh/ Forbes Profile of Malvinder and Shivinder Singh
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