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Ranbaxy expects $100 mn revenues from South Africa by 2010

Ranbaxy expects $100 mn revenues from South Africa by 2010
PTI
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First Published: Thu, Jun 03 2010. 05 58 PM IST
Updated: Thu, Jun 03 2010. 05 58 PM IST
Mumbai: Ranbaxy Laboratories, India’s largest drug firm by sales, on Thursday said it expects revenues of $100 million in 2010 from operations in South Africa, which is the largest pharma market in the African continent.
“With the commissioning of a new manufacturing facility, the company expects its revenues from South African operations to cross 100 million dollars in 2010,” Ranbaxy Laboratories managing director and CEO Atul Sobti said.
Ranbaxy, in which the majority stake is owned by Japan’s Daiichi Sankyo, had reported a revenue of about $75 million from its South African operations in 2009.
He said the company is setting up a new plant in the country with a capacity of 2 million doses per annum, which will be onstream this year.
“The new plant, which will be the largest liquid manufacturing facility in the country, is almost ready and we are waiting for the inspection and once inspection is done, it would start production,” Sobti said.
He said the total contribution from the African market is around $150 million, which is expected to go up to $200 million next year.
The company also said South Africa is one of its top five markets.
Ranbaxy had reported a $39 million revenue from the region for the quarter ended 31 March, 2010, with a growth of 30%.
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First Published: Thu, Jun 03 2010. 05 58 PM IST