MUMBAI: Drug maker Ranbaxy Laboratories Ltd said on 7 March that its Romanian unit, Terapia, recorded a 50% sales growth in 2006, and has received approvals to sell 20 new products.
Ranbaxy, which completed the $324 million (Rs1,443 crore) acquisition of Terapia last June, said it had a market share of 5.6% in Romania and was well placed to gain from the expected strong growth in the country.
“The company is undergoing a successful integration process including re-branding, and training of the commercial force and has registered a 50% growth,” it said.
The products to be launched included new molecules and modern formulations in diverse segments ranging from antibiotics to drugs for cardiovascular diseases, it said in a statement.
Ranbaxy Chief Executive Malvinder Singh said in an interview that he saw Romania as a key driver of profit growth in 2007.
Ranbaxy, which aims to be one of the top five generic players with $5 billion in annual sales by 2012, has bought several firms. It continues to scout for new acquisitions, and said in January that it was interested in the generic drug business of Germany’s Merck KGaA.
Other parties that have said or seem to be interested include Iceland’s Actavis, Israel’s Teva Pharmaceutical Industries Ltd, Dr Reddy’s Laboratories Ltd and US-based Mylan Laboratories Inc.