Ranbaxy expands in U.S Market through acquisition of 13 Brands

Mumbai, May 28 (UNI) Ranbaxy Laboratories Ltd has announced that its wholly owned subsidiary, Ranbaxy Laboratories Inc. (Ranbaxy), has acquired from Bristol-Myers Squibb Company (BMS) the U.S. rights of a group of 13 dermatology products.

These highly regarded products have been present in the market for over 10 years and have been utilized in the treatment of Acne, Dermatitis, Psoriasis, Fungal infections and Scabies. The U.S.

dermatology market value is estimated at USD 10 billion and has experienced growth of 10 per cent per annum, the Company informed BSE.

Commenting on the acquisition, Vice President and Regional Director for Ranbaxy in North America, Mr Venkat Krishnan said, ''The acquisition from BMS of the U.S. rights to 13 dermatology products strengthens and extends the Ranbaxy franchise in the dermatology arena. It enables Ranbaxy to establish an immediate presence in the high value segments of Dermatitis, Psoriasis, Anti-fungals and Scabies, in addition to Acne, where the Company already has a dominant brand.'' The 13 acquired products have significant synergy and represent an opportunity towards building a ''dermatology business'' with a predictable revenue stream.

These brands will be sold in the U.S. market under the Ranbaxy Laboratories Inc. label and offer significant potential for growth.

Ranbaxy believes that incremental sales from the 13 products can be generated through active promotion.

Ranbaxy Laboratories Inc. (RLI) based in Princeton, New Jersey, USA, is a wholly owned subsidiary of the Company. RLI is engaged in the sale and distribution of branded prescription products in the U.S. healthcare system.

UNI