Intelligent Indians

  • 18/06/2008

  • Indian Express (New Delhi)

In sharp contrast to Europe, India takes the Ranbaxy sale in its stride: maturely and realistically Enough time has passed, sufficient dust has settled, since last Wednesday's announcement of Ranbaxy's sale of control to Daiichi Sankyo, to conclude that Indian reactions to the deal have been in marked and welcome contrast to reactions to similar sales elsewhere in the world: few nationalistic tears have been shed, even as an industry-leader is sold. And not just the leader of any industry, but of a sector which has been cited as exemplary in its ability to withstand global competition, handle an intellectual property rights regime, transit successfully to a knowledge-based economy and factor in mergers and acquisitions abroad. Instead, the reaction has focused on the unquestionable positives rather than on intangible negatives. Given the conservative attitudes of Japanese industry, this deal indirectly vindicates Indian pharmaceutical industry's coming-of-age and global recognition