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20 June, 2005: Ranbaxy Laboratories Ltd has acquired a generic product portfolio accounting for 18 products from Spanish pharmaceutical company Efarmes SA. The products, belonging to cardio vascular system, central nervous system and pain management segments, are being bought for sales in the Spanish market.
The company, through its Barcelona-based subsidiary Laboratorios Ranbaxy SL has signed the deal for acquiring the products, Ranbaxy said in a release.
“The acquisition fortifies our presence in Spain while augmenting our existing drug product portfolio. With this strategic development, we will be able to provide a wide range of quality generic drugs to meet the growing needs of patients in this part of the world,” Ranbaxy Regional Director Europe, CIS & Africa Peter Burema said.
Spain ranks ninth in the world for prescription pharmaceuticals, which is valued at around $10 billion and growing at around 10 per cent per annum, and fifth among the European Union countries.
The current generic market is valued at $700 million and is estimated to be growing at 30 per cent per annum.
Ranbaxy, as part of its product sourcing arrangement for atrovastatin intermediate with Delhi-based Ind-Swift, is also planning to set up a dedicated facility in the country. The facility would be set up at Ind-Swift’s existing premises.
The companies would be investing around Rs 20 crore for the new facility, which is coming up at Derabassy near Chandigarh. Atrovastatin, a cardiovascular drug, is currently a crucial product for Ranbaxy as the company has a Para 4 filing in the US for the generic drug.
BY OUR PHARMA CORRESPONDENT
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