Five senior executives from Ranbaxy Laboratories' U.S. location resigned last month and have launched Bion Pharma in order to offer an array of services ranging from securing regulatory permissions to navigating distribution tie-ups for Indian and European drug makers seeking to enter the U.S. market.
Bion Pharma, based in NJ, will include former Ranbaxy U.S. unit CEO Venkat Krishnan, its ex-CFO Gaurav Mehrotra, sales head Bill Winter, legal head Lavesh Samtani and supply chain head Phanindranath Punji.
India pharma has been plagued by a series of regulatory setbacks in America, leaving the industry and public apprehensive about India-based companies. The goal of the new venture will be to assuage these apprehensions and enable overseas drug makers to safely and succesfully bring products to the U.S. market.
Read the ET press release