Ranbaxy Laboratories Limited, a major player in the Indian pharmaceutical industry, is one of the few Indian multinational corporations. The case describes the evolution of the company from a small beginning in the 1950s to a leadership position in the Indian pharmaceutical industry. The case describes the strategies pursued by the company at different points in time and some of the challenges faced by it. The case provides information on the company's products and markets served by it, government policies affecting the industry, industry structure and dynamics, the company's overall strategy and policies related to products and markets, manufacturing and quality, research and development, internationalization, joint ventures and organization and management process. Several exhibits have been included which provide financial information for the last four years, domestic and international sales, the government's drug policy, etc.