Following last year's acquisition of Ranbaxy, Sun Pharma has released 18 top execs previously employed by its former rival.
The cuts included the Ranbaxy President and CFO, country head, V-P marketing, global head of sourcing and director of finance. Most senior execs who were asked to leave were brought in after Japanese drugmaker Daiichi bought Ranbaxy in 2008.
A confidential source told the Economic Times that close to 150 Ranbaxy senior management staff will be asked to leave over the coming months.
The merger of the two companies has been complex due to the large size of both drugmakers and their similarities in organizational structure has inevitably lead to overlaps in staff.
Read the Economic Times article