Ranbaxy Laboratories has bought a generic product portfolio containing eighteen products of Spanish Pharma Company, according to a company press release. The products belong to the cardio vascular system, central nervous system and pain management segments. Ranbaxy already has a presence in 21 of the 25 European Union countries and is further consolidating its presence now. Through the Efarmes tie-up, there will be a stronger focus on Spain as a key market within the region, the release said. With a prescription medicine market, valued at around US$ 10 billion and growing at approximately 10% per year, Spain ranks ninth in the world. The generic market, which Ranbaxy shall be targeting, is valued at US$ 700 million and is estimated to grow at 30% per annum.