Daiichi eyes Ranbaxy for expanding in Africa, Latin America
March 12th, 2010 - 2:30 pm ICT by IANSMumbai , March 12 (IANS) Japanese pharma major Daiichi Sankyo has drawn up a major business plan for the next two years under which it intends to better synergise its operations with its Indian arm Ranbaxy Laboratories and expand in Africa and Latin America.
Targeting a turnover of $3 billion for Ranbaxy Laboratories by December 2012, Daiici Sankyo said Friday the Indian arm will also establish its presence as the number one player in the country’s prescription drugs and pharmaceuticals market.
“Daiichi Sankyo and Ranbaxy will collaborate in fast-growing emerging markets and fully deploy the hybrid business model,” the company said, adding: “It will also expand its presence in African and Latin American markets.”
Daiichi Sankyo feels better synergies with Ranbaxy will help the group grow at a faster rate than counterparts in Japan, Europe and the US.
Majority stake in Ranbaxy was acquired by Daiichi Sankyo in 2008 for little under $5 billion, including the entire 34.8-percent shares held in the company by the family of the Delhi-based brothers, Malvinder and Shivinder Mohan Singh.
The Indian company produces a wide range of generic medicines, has manufacturing units in seven countries, apart from undertaking research on several original molecules and novel drug discoveries.
- Ranbaxy settles issue with US health regulator - Dec 21, 2011
- Ranbaxy, Russian region sign healthcare pact - Jan 31, 2011
- Ranbaxy to launch anti-diabetic drug Actos by 2012 - Mar 15, 2010
- Competition check for FDI in pharma will help consumers: CUTS - Oct 11, 2011
- Ranbaxy boosts presence in Africa with malaria drug - May 11, 2012
- Ranbaxy ordered to improve India, US plants - Jan 26, 2012
- Fortis offers to buy Parkway, deal size at $2.3 bn - Jul 01, 2010
- India's Fortis Healthcare exits race for Singapore's Parkway - Jul 26, 2010
- Parkway stake makes Fortis largest Asian hospital chain - Mar 12, 2010
- Ranbaxy posts $210 mn net profit - May 11, 2010
- Foreign investment in pharma to face competition check - Oct 11, 2011
- Japan's Daiichi to buy majority stake in India's Ranbaxy for $4.6 bn (Second Lead) - Jun 12, 2008
- Ranbaxy's South African arm bags $133 million order - Dec 20, 2010
- Dr.Reddy's acquires JB Chemicals business in Russia - Jul 23, 2011
- Ranbaxy promoters to sell stake to Japan's Daiichi - Jun 11, 2008
Tags: business plan, counterparts, daiichi sankyo, drug discoveries, emerging markets, generic medicines, hybrid business model, indian arm, latin america, latin american markets, majority stake, mohan singh, molecules, mumbai, novel drug, pharmaceuticals, prescription drugs, ranbaxy laboratories, synergies, undertaking research