2004 Frost & Sullivan Award for Entrepreneurial Company of the Year Goes to Ranbaxy Laboratories.

PALO ALTO, Calif. -- Frost & Sullivan's recent analysis, Strategic Analysis of the Brazilian Pharmaceuticals Markets, selected Ranbaxy Laboratories for the 2004 Entrepreneurial Company of the Year Award in recognition of its rapid rise to the top of the Brazilian generic drugs market despite its relatively recent entry into the country in the year 2000.

Every year, Frost & Sullivan presents this Award to the company whose outstanding entrepreneurial initiatives, combined with its sound marketing strategy, have propelled it to the forefront of its particular industry.

"Despite being a foreign company, Ranbaxy successfully joined the ranks of the top five generic companies in Brazil within a short span of four years," says Frost & Sullivan Research Analyst Barath Shankar. "Today, Ranbaxy is the fifth-largest company in the generic drugs segment, and the first among foreign companies, with a market share of about 5 per cent in terms of sales."

Ranbaxy has been able to reach this position by adopting a robust strategy of introducing a large number of generic products focused mainly on the CVS and CNS therapy areas. In Brazil, Ranbaxy has a number of exclusive generic products. Ranbaxy also has a growing portfolio of branded products.

"These entrepreneurial initiatives are likely to continue in the future," says Barath Shankar. "With a large number of drugs in the pipeline and a projected increase in market share, Ranbaxy is set to continue growing in the Brazilian generic drugs market."

Ranbaxy is one of the largest R&D spenders amongst Indian pharma industry with over 7% of its global revenues being invested during 2004 and is committed to raise it to 10% of its sales by 2007, much ahead of the industry average. The Company is committed to be a research-based international pharmaceutical Company. Its success in various markets of USA and Europe has helped it to attain a position amongst the top ten global generic drug companies.

Ranbaxy is currently engaged in augmenting its manufacturing locations spread across 7 nations across the globe. The most relevant is a new manufacturing facility being set up at Campo Grande near Rio de Janeiro, in Brazil. Ranbaxy has the distinction of being the first Indian company to get its world class manufacturing plants approved by the Brazilian regulatory authorities.

Globally, it is Ranbaxy's carefully planned acquisition of local companies, combined with its aggressive outlook in the risk-intensive R&D segment, which has been primarily responsible for its success.

About Ranbaxy Laboratories

Ranbaxy Laboratories Limited, India's largest pharmaceutical company, manufactures and markets brand and generic pharmaceuticals and Active Pharmaceutical Ingredients. Ranbaxy's continued focus on R&D has resulted in several approvals in developed markets and significant progress in New Drug Discovery Research. Ranbaxy's foray into Novel Drug Delivery Systems has led to proprietary "platform technologies" resulting in a number of products under development. The Company is selling its products in over 100 countries and has an expanding international portfolio of affiliates, joint ventures and alliances, ground operations in 44 countries and manufacturing operations in 7 countries.

About Frost & Sullivan

Frost & Sullivan, a global growth consulting company, has been partnering with clients to support the development of innovative strategies for more than 40 years. The company's industry expertise integrates growth consulting, growth partnership services and corporate management training to identify and develop opportunities. Frost & Sullivan serves an extensive clientele that includes Global 1000 companies, emerging companies, and the investment community, by providing comprehensive industry coverage that reflects a unique global perspective and combines ongoing analysis of markets, technologies, econometrics, and demographics. For more information, visit www.frost.com.