Due to declining sales in the US, Ranbaxy Laboratories has reduced its staff in the country and cut back on sales-related expenses. They have even stopped promoting some branded products and the savings from these are quite outstanding. Cost reduction forms an important part of Ranbaxys strategy as it seeks to combat the 47% decline in net profit in the second quarter of 2005. The companys new plans include launching new products and increase its volume sales in the US market, as well as growing its business in other parts of the world.
Posted On : 8/2/2005 2:20:23 PM