( Indian pharmaceutical company Ranbaxy L...)Ranbaxy Expands By Acquiring A Generic Company In Belgium,Health

Indian pharmaceutical company Ranbaxy Laboratories Ltd., announced on Thursday about its overseas expansion of acquiring a generics company, Ethimed NV of Belgium. //

This is the fourth acquisition announced by the company in a week. The earlier ones included the takeover of Romania's Terapia for $324 million, GlaxoSmithKline Plc's Italian generic business and the purchase of the rights and assets to Senetek Plc's auto-injector device by the US based wholly owned subsidiary of Ranbaxy.

'The acquisition (of Ethimed) follows similar strategic moves by Ranbaxy previously in the larger European markets,' the company said in a statement.

The move will allow 'Ranbaxy to anticipate local market dynamics and capitalise on the changing business landscape, in the Benelux countries'.

Belgium is the seventh largest pharmaceutical market in Europe.

Ranbaxy plans to manage operations in the Benelux territories, including Belgium, the Netherlands and Luxembourg, out of Ethimed's present location.

'Ethimed offers Ranbaxy a ready and robust distribution network to exploit new product opportunities in the future. It also provides the company, a strong base from where we can manage and expand our operations in the Benelux countries,' said Peter Burema, president of Ranbaxy for Europe, CIS, Africa and Latin America.

‘We see this acquisition as strategic to our business in Europe.'

Ethimed is an established generics company in Belgium with a significant customer network, especially among pharmacies. It has over 20 product registrations and is ranked 10th among generic companies in Belgium.

--Edited IANS
'"/>




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