Ranbaxy Laboratories on Monday acquired GlaxoSmithKlines (GSK) unbranded generic drug business in Italy for an undisclosed sum. Ranbaxy, which is in the league of the worlds top-10 drug makers, said acquisition of GSK division, Allen Spa, made through its Italian arm Ranbaxy Italia Spa, will come into force on April 1.
According to a company statement quoting Ranbaxy CEO & MD Malvinder Mohan Singh, this acquisition will put the Pharma companys growth plans for italy on the fast track.
Itally is the fastest growing pharmaceutical market in Europe euro350m ($ 420m) Italian generic drug market is growing at 49% a year, according to market research agency IMS. This will enable the company to use opportunities arising from future patent expires, the release furthur stated.
It plans to launch them in the coming years , with the first product-Sertralina Ranbaxy-expected to hit the market in May this year.
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| Posted : 3/28/2006 |
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