Wednesday, May 22, 2013

Ranbaxy and Gupta

Read two negative pieces of India/Indians this past weekend! Long and interesting reads.

1. Rajat Gupta's fall from grace:
The 64-year-old Gupta, who remains free on appeal, has vigorously maintained his innocence. But even as his appeal is heard this week, the fundamental question behind his case remains a mystery. Why would one of the most revered C.E.O.’s of his generation, who retired with a fortune worth some $100 million, show such bad judgment?
2. The unsettling fraud at Ranbaxy: Parts of this story made the hair on my neck stand up!
Thakur left Kumar's office stunned. He returned home that evening to find his 3-year-old son playing on the front lawn. The previous year in India, the boy had developed a serious ear infection. A pediatrician prescribed Ranbaxy's version of amoxiclav, a powerful antibiotic. For three scary days, his son's 102° fever persisted, despite the medicine. Finally, the pediatrician changed the prescription to the brand-name antibiotic made by GlaxoSmithKline (GSK). Within a day, his fever disappeared. Thakur hadn't thought about it much before. Now he took the boy in his arms and resolved not to give his family any more Ranbaxy drugs until he knew the truth.

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