Ranbaxy to acquire part of Glaxosmithkline in Italy
Mumbai, Mar 28: Ranbaxy Laboratories today announced that it will acquire the unbranded generic business of Allen, a division of GlaxoSmithKline (GSK), in Italy, through its Italian subsidiary Ranbaxy Italia.
The company, which did not disclose the amount involved, said the deal will come into effect from April one.
Company's CEO and MD Malvinder Mohan Singh said, the acquisition of the Allen generic business from GSK would fast track Ranbaxy's growth plans in Italy.
This product portfolio compliments Ranbaxy's own pipeline of products for the Italian market and will enable the company to utilise opportunities arising from future patent expiries, he said.
The company's Italian operation - Ranbaxy Italia was incorporated in September last year. It is presently engaged in filing the company's portfolio of generic products with the Italian health authorities and plans to launch this portfolio over the coming years.
The company also plans to launch its first product - Sertralina Ranbaxy in May this year.