In line with Ranbaxy Laboratories aggressive international expansion strategy, the approval from South Africa's Competition Commission has solidified the acquisition of Be-Tabs Pharmaceuticals (Pty) Limited ("Be-Tabs") by Ranbaxy Laboratories. (RNBV).
The deal is valued at R500 million (USD 70 Million) and will make Ranbaxy the fifth largest generic pharmaceutical company in South Africa.
Ranbaxy Laboratories Limited, headquartered in India, is an integrated, research based, international pharmaceutical company producing a wide range of quality, affordable generic medicines, trusted by healthcare professionals and patients across geographies. Ranbaxy's continued focus on R&D has resulted in several approvals in developed markets and significant progress in New Drug Discovery Research. The Company's foray into Novel Drug Delivery Systems has led to proprietary "platform technologies", resulting in a number of products under development. The Company is serving its customers in over 125 countries and has an expanding international portfolio of affiliates, joint ventures and alliances, ground operations in 49 countries and manufacturing operations in 9 countries.
As part of this acquisition, Ranbaxy has concluded a Black Empowerment transaction with a Community Investment Holding(CIH) group company.
Peter Burema, President of Ranbaxy's global pharmaceutical division, who signed the deal on Friday 4th May said," the acquisition of Be-Tabs will ensure that Ranbaxy develops deeper roots in SA and with a strong local flavor."
A key element of the Be-Tabs deal is that it gives Ranbaxy local manufacturing capability - making the company one of the few generics pharmaceutical companies to invest in and develop local manufacturing functionality.
Desmond Brothers, CEO of Ranbaxy South Africa, says: "the company's decision to manufacture locally will not only help to provide quality medicine at aPage: 1 2 3 Related medicine news :1
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