Cluj-based drug maker Terapia Ranbaxy, fully-owned subsidiary of the India’s Ranbaxy held by Daiichi Sankyo will start marketing Evista, the first drug launched in Europe after the Daiichi Sankyo’s buyout of the Singh family’s stake in Ranbaxy.
“The launch of Evista by Terapia Ranbaxy in Romania marks our first international endeavour as a global partnership. Terapia Ranbaxy is a strong player in Europe, and we will provide a unique platform to Daiichi Sankyo for the launch of Evista, and many more new products in the future,” said Atul Sobti (photo), CEO and Managing Director of Ranbaxy.
Romania is Eastern Europe’s second biggest market after Poland, the pharmaceutical market being estimated at 2.5 billion and is expected to grow at an annual 20%, the drug giant said in an official statement.
“This is the first time in Europe that Daiichi Sankyo and Ranbaxy are leveraging synergies generated through the Hybrid Business Model”, reads a press release remitted by the Cluj-based company.
Terapia reported first-half sales of 40 million dollars, down 11% year-on-year. In April-June, sales fell 7% from second quarter last year, down to 21 million dollars, according to the company’s financial report.
Ranbaxy Laboratories is a research based, international pharmaceutical company producing a wide range of generic medicines that has an international portfolio of affiliates, joint ventures and alliances, ground operations in 49 countries and manufacturing operations in 11 countries, Romania included – Terapia Ranbaxy. Terapia was established in the 20’s and for the time being, it is Romania’s largest generic drug manufacturer. In spring 2006, the Indian-based company bought local producer Terapia from Advent International in a 324million dollar deal.
