Eli Lilly in India: Rethinking the Joint Venture Strategy
India , most of the products of Eli Lilly were being manufactured and sold illegally . It required strategic thinking to come up with a new product which can grasp the attention of the majority of the population . Furthermore most of the specialists and experts were unaware of the name therefore management decided to name the JV as Eli Lilly Ranbaxy JV which reflects the foreign taste . Most interesting fact revealed that both the businesses started from the scratch and worked for improving the infrastructure of the business where Ranbaxy helped the business
whenever they were faced with some sort of issues . The group worked 24 /7 and expanded the workforce with key professionals . It had a very limited budget therefore Eli Lilly excellently operated on economies of scale and made the most from Ranbaxy distribution system . In the 1993 , the business had more than 200 people working on systematically performing and expanding its real essence in India . It took assistance from one its office located in Geneva and established a creative recruiting theme in to ascertain long-term employment relationship . Furthermore the business assured new sales graduates that they will be going to be promoted in the company and customized training programs were formulated in accordance with India . The business also developed a `Red Book ' and put up with its values of ethical code of conduct . They communicated both the positive and negative aspects of specific drugs and later on it helped them in building trust , faith and confidence of doctors in the company . Both the firms strictly focused on the JV and on building personal relationships with each other rather than indulging in conflicts or politics . Both the businesses specialized in their core business with an upward moving learning curve . Ranbaxy gained expertise in generic products and meanwhile Eli Lilly focused...
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