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September, 2006 Pragati Maidan, New Delhi, India |
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Ranbaxy on the prowl
Co plans another acquisition soon
Action in the Indian pharmaceutical industry seems to be revving up again. If insiders are to be believed, the sector may soon witness another big-ticket acquisition by Ranbaxy Laboratories. Coming closely on the heels of its $324-m acquisition of Romania’s largest generic drug company, Terapia, Ranbaxy’s latest move is likely to make industry observers sit up.
According to the grapevine, Ranbaxy is planning a high-profile buy in the US. While the name of the company hasn’t been learnt yet, sources have said that it is another generic drug producer. Ranbaxy executive director Ramesh Adige said in a newspaper interview.
“We cannot comment on speculations, but are actively looking at acquisitions opportunities in the US, Europe, emerging markets and India.” It may be mentioned that a few months back, Dr Reddy’s Laboratories had acquired Betapharm for $570m.
Date: 07-Aug-2006
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