Ranbaxy under threat too?
Could there be another name change in the offing?
Speculation in business circles is now rife that Daiichi Sankyo will change Ranbaxy's name after the company accepted that it had misrepresented information to the United States Food and Drug Administration and paid a fine of $500 million.
Aspersions were also cast on the quality of its medicine.
After that, one pharmacy chain stopped procuring Ranbaxy products, though it subsequently revoked that decision.
The company has denied any move to rename Ranbaxy. But it is certain that repairing the company's image will be a long and arduous journey.
Perhaps Daiichi Sankyo feels that a name change at this juncture will send out the wrong signal - people might feel that the company is making cosmetic changes instead of addressing the core issues.
So, maybe it'll give the matter a serious thought once the dust has settled over the current controversy. Who knows?