Ranbaxy completes Terapia SA acquisition

Mumbai, Jun 8: Ranbaxy Laboratories Ltd has acquired 96.7 per cent stake in the leading Romanian pharmaceutical company Terapia SA (Terapia), following approvals from the Romanian Competition Council (RCC).

Informing BSE, the company said the deal has been routed through Ranbaxy Netherlands BV. It had announced the acquisition of the equity stake in Terapia from Terapia Holding BV for a sum of USD 324 million.

The deal benefits Ranbaxy in terms of leveraging strengths of two premier generic companies. The transaction shall provide further impetus to the company to ease its access in the Romanian market and facilitate its growth in the CIS countries.

''With the completion of the transaction Romania now becomes the third largest market for us in terms of revenue'' said Mr Malvinder Singh, CEO and Managing Director, Ranbaxy Laboratories.

UNI