Malvinder Mohan Singh

Malvinder Mohan Singh is an Indian businessmen with the Fortis health care , Ranbaxy and Religare business.^[1] 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.^[2]

Malvinder Mohan Singh is one of the son of Dr. Parvinder Singh and the grandson of Bhai Mohan Singh, the founder of Ranbaxy.^[3] 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.^[4]

Singh attended The Doon School, Dehradun^[5] and graduated in Economics from St. Stephens College, Delhi. He also received an MBA from Duke University's Fuqua School of Business.^[6]

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.^[7]

Malvinder Singh is part owner of Fortis Healthcare and Religare Wellness^[8]

References

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