1. India – The Pharma Advantage Dr. Brian W Tempest Chief Mentor & Executive Vice Chairman of the Board Ranbaxy Laboratories Limited, Delhi, India Tokyo – 14 th June’06

2. Except for the historical information contained herein, statements in this presentation and the subsequent discussions, which include words or phrases such as “will”, “aim”, “will likely result”, “would”, “believe”, “may”, “expect”, “will continue”, “anticipate”, “estimate”, “intend”, “plan”, “contemplate”, “seek to”, “future”, “objective”, “goal”, “likely”, “project”, “should”, “potential”, “will pursue” and similar expressions or variations of such expressions may constitute "forward-looking statements". These forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those suggested by the forward-looking statements. These risks and uncertainties include, but are not limited to our ability to successfully implement our strategy, our growth and expansion plans, obtain regulatory approvals, our provisioning policies, technological changes, investment and business income, cash flow projections, our exposure to market risks as well as other risks. Ranbaxy does not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date thereof. Disclaimer

3. Davos 2006 Source – FT

4. The Productivity Advantage India a usa Pharma view USA 1 chemist 1 chemist 70 h/week 50 h/week $ 800 monthly $ 12,000 monthly Better education x 1,3 Longer working time x 1,3 Lower cost x 20 Sources: IPHMR Conferences, New Delhi August 2004

5. The R&D Investment Advantage Most attractive R&D Investment locations: 1. China 2. USA 3. India 4. Japan 5. UK Source – UNCTAD 2005

6.  Qualified Scientists & Engineers  Global India players with Alliances  English speaking  TRIPs compliant – first patent March 2006  IIT, IIM & other scientific institutions Source – UNCTAD 2005 The R&D Investment Advantage -reasons why India

7. $m 2000 110 2001 160 2002 200 2003 250 2004 400 2005 450 - Leading to even more Pharma R&D facilities and factories Source – Citigroup Investment by top 15 Indian Domestic Pharmaceutical Companies

8. Investment by foreign Pharma companies

9. $b 2004 2009 USA 15 27 W Europe 9 14 Japan 3 4 Rest of America 6 9 ROW 25 40 Total 58 94 Source: Frost & Sullivan “India could soon dominate the entire production chain for generics” IMS prediction No 4 Scrip April 5 2006 The Global Generic Market – growing everywhere

10. The Pharma Advantage Competitive Advantage – Aggressive Home Market

11. The Pharma Advantage Competitive Advantage - Cost of Manufacture Active Pharmaceuticals Facility, MohaliDosage Forms Facility, Paonta Sahib Highest number of FDA approved plants outside the US Exports ($m): 1990 15% 2005 45% 2010E 70% Source: IPA No. of FDA approved plants: 1990 1 1995 10 2000 44 2004 105 Source: Crisil / IPA

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13. The Pharma Advantage R&D I R&D III R&D II R&D IV Competitive Advantage - Cost of Innovation

14. 1999 13% 2000 17% 2001 20% 2002 30% 2003 35% 2004 40% Source: Citigroup *DMF – Drug Master Files Q1 2006 India alone 43% The Pharma Advantage – API’s Chindia filings USA DMF filings by India 1990 1 1995 4 2000 36 2004 162 Source: Crisil

15. Annual USA ANDA Filings Ranbaxy29 Sun22 Orchid18 Lupin14 DRL13 Cadilla12 Source: Pharmabiz 8 th Sept’ 2005 - One in every four ANDAs filed by Indian Companies - Source: KPMG - - 29 ANDAs p.a ranks in top 3 filers The Pharma Advantage - ANDAs

16. Leading Generic Companies Source : Company /Financial reports & presentations Annual Sales (US$ Millions)

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