Navigation Links
Ranbaxy Acquires Glaxosmithkline's Generic Unit in Spain

Looking to expand its presence and product portfolio in the Spanish market, pharma major Ranbaxy Laboratories Ltd today said it has acquired GlaxoSmithKline's Mundogen generic business in Spain. //

Ranbaxy's CEO and MD Malvinder Mohan Singh said that the acquisition was in line with the company's M&A strategy to focus on the EU markets.

The company said in a filing with the Bombay Stock Exchange that it continued to see growth opportunities in the EU market and the acquisition would further consolidate its presence in the rapidly growing Spanish generic market and strengthen its product portfolio.

Ranbaxy acquired GSK's Mundogen unit through its Spanish subsidiary Laboratorios Ranbaxy SL, which was incorporated in February 2004.

The company is currently marketing over 40 products in the Spanish market, including the recently launched Simvastatine and Ticlopidine in June 2006 and plans to rapidly expand its product portfolio through the launch of the product In its pipeline and through the Mundogen acquisition.

As per IMS, March 2006, the value of the Spanish generic market was approximately 750 million dollars, with an annual growth rate of 25 per cent while the total pharmaceutical market is worth approximately 12.5 billion dollars.

Ranbaxy is currently present in 21 of the 25 European Union countries and is rapidly consolidating its presence in Europe, it added.

The company's shares moved up 1.12 per cent to close at Rs 324 on the BSE.

Source:PTI News

Page: 1

Related medicine news :

1. Ranbaxy joins hand with Cipla to co-market ciprofloxacin
2. Ranbaxy gets US FDA approval for Lisinopril
3. Ranbaxy Labs Entry Into Anti-Acne Market
4. Ranbaxy trying to make inroads in herbal drugs market
5. Lamivudine Manufactured By Ranbaxy gets the nod from the US FDA
6. Ranbaxy Pharmaceuticals Inc awarded the prestigious outstanding supplier award received from Wal-Mart
7. Ranbaxy opens Drug discovery centre in Gurgaon
8. Ranbaxy Laboratories All Set To Export Bird Flu Vaccines
9. SRL Ranbaxy offers quicker bird flu diagnostic test
10. Diagnostic Test Launched by Ranbaxy for En Masse Screening of Bird Flu
11. Ranbaxy Launches Once-a-day Inhaler For Asthma Patients
Post Your Comments:

(Date:11/25/2015)... ... November 25, 2015 , ... As part of ... Empowerment ™ attracts volunteers together who want to combine talents and resources to ... stakeholders in the process. The non-profit launched its first major fundraiser on November ...
(Date:11/25/2015)... , ... November 25, 2015 , ... Finnleo, a leader ... Eve on several models of traditional and far-infrared saunas. , For traditional ... is the most traditional Finnish sauna wood, and Finnleo uses only European Grade A ...
(Date:11/25/2015)... (PRWEB) , ... November 25, 2015 , ... ... offering factory direct sauna parts and accessories. , Sauna accessories help improve ... the bather’s style and personality. From basic styles for the purist looking for ...
(Date:11/25/2015)... ... November 26, 2015 , ... Ministers, ... Union (EU), ANDI Pan African Centres of Excellence, and public R&D institutions, civil ... for the opening of the 5th African Network for Drugs and Diagnostics Innovation, ...
(Date:11/25/2015)... ... 25, 2015 , ... For the first time, Vitalalert is donating half of ... campaign. The partnership between the two groups began in 2014 with Vitalalert pledging a ... MAP International was founded in 1954 and is an international Christian-based health organization whose ...
Breaking Medicine News(10 mins):
(Date:11/26/2015)... , November 26, 2015 /PRNewswire/ ... announced the addition of the  "2016 ... the European Therapeutic Drug Monitoring (TDM) ... Competitive Intelligence, Emerging Opportunities"  report to ... ) has announced the addition of ...
(Date:11/26/2015)... -- ) has announced the ... Viscosity Drugs" report to their offering. ... of the "Self Administration of High Viscosity ... Research and Markets ( ) has ... of High Viscosity Drugs" report to their ...
(Date:11/26/2015)... , November 26, 2015 ... addition of the "Radioimmunoassay Market by ... (Hospital, Pharmaceutical Industry, Academics, Clinical Diagnostic Labs), ... Global Forecast to 2020" report to ... has announced the addition of the ...
Breaking Medicine Technology: