New Delhi: The country’s largest drug maker by sales, Ranbaxy Laboratories on Monday said it would launch Olmesartan Medoxomil, an anti-hypertensive drug from parent company Daiichi Sankyo’s portfolio, in six African countries.
“The companies will launch the products under the brand name Olvance, as soon as the necessary measures have been completed in each country,” Ranbaxy Laboratories said in a statement.
The six African countries are Kenya, Mozambique, Nigeria, Tanzania, Uganda, and Zambia.
“This is the first time in Africa that Daiichi Sankyo and Ranbaxy are leveraging mutual synergies generated through the Hybrid Business Model, and we will continue to explore other collaborations with Ranbaxy...,” Daiichi Sankyo President and CEO Takashi Shoda said.
The Gurgaon-based company said it would use its strong business network in Africa to bring the innovative medicines of Daiichi Sankyo to people there.
Ranbaxy had launched Olmesartan Medoxomil as Olvance in India in April this year. Olmesartan Medoxomil is available in more than 50 countries worldwide.
Earlier, Ranbaxy Laboratories and Daiichi Sankyo had said they were working on a three-year plan to exploit synergies in operations to enhance their generic as well as branded business across the globe.
According to market analysts, the synergy plan between the two companies could address issues such as accessing the Japanese market and leveraging on Ranbaxy’s distribution network to launch its products in other markets.
Both companies have entered into an arrangement under which Ranbaxy would market the branded products from Daiichi Sankyo’s portfolio in markets where the Japanese firm does not have presence.
Ranbaxy recently launched Evista, a drug used for treating osteoporosis, through its subsidiary in Romania from Daiichi Sankyo’s portfolio.
In Mexico, it has set-up a new marketing division to focus on Daiichi Sankyo’s products and has reported a 38 per cent increase in sales in the third quarter of the current year.
Ranbaxy has also introduced some of Daiichi Sankyo’s products in India. Daiichi Sankyo acquired majority stake in Ranbaxy Laboratories last year for about Rs22,000 crore.