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September, 2006 Pragati Maidan, New Delhi, India |
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Ranbaxy Charts Expansion Route
Ranbaxy Laboratories Limited, the domestic pharmaceutical major, is charting business expansion plans that traverse three continents.
A Ranbaxy spokesperson said, ``the company is looking for different kinds of acquisition across the world. It plans to buy a company, a brand and production facility.``
``Ranbaxy is planning to buy a company in Germany. In the US market, the company is looking forward to the acquisition of a brand and in Brazil, it will set up a manufacturing facility,`` he added. However, the spokesperson said these plans, which usually take long to materialise, are part of the overall overseas business expansion proposal of the company, which includes other countries as well.
The US has, for long, been one of the growth engines for Ranbaxy. The European business contributes close to 50 percent of the company`s sales turnover.
After the US, it is the European market, which is becoming important for Ranbaxy. The Indian market accounts for 18-20 percent of the homespun pharma major`s business. Ranbaxy acquired French generic firm RPG Aventis, for which it had signed the agreement two years back.
Ranbaxy is also gung-ho about it growth prospects in the BRIC (Brazil, Rassia, India and China) market. The drug major thinks the BRIC market will help the company in achieving a 15-20 percent growth that it has ear marked for it for 2004.
Last year the company had reported a turnover of Rs. 3,743.78 crore.
Date: 17-Dec-2004
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