Ranbaxy buys rights for 13 dermatology products
Ranbaxy Laboratories on Monday said it has acquired the US marketing rights for 13 dermatology products from Bristol-Myers Squibb Company (BMS).
By PTI |
MUMBAI: Ranbaxy Laboratories on Monday said it has acquired the US marketing rights for 13 dermatology products from Bristol-Myers Squibb Company (BMS).
The acquisition from BMS enables the company to establish an immediate presence in segments such as dermatitis, psoriasis, scabies and anti-fungals, in addition to acne, where the company already has a dominant brand, Vice President and Regional Director for Ranbaxy in North America Venkat Krishnan said.
The company's wholly-owned subsidiary, Ranbaxy Laboratories Inc has acquired the rights for a group of 13 dermatology products from US-based BMS, Ranbaxy Laboratories said in a communique to the Bombay Stock Exchange (BSE).
These brands would be sold in the US 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.
"These products collectively create opportunities that can be effectively leveraged through our current franchise established through Sotret," Krishnan said.
It also creates a broader platform for the introduction of value-added line extensions and additional brands as our involvement and commitment to dermatology expands, he added.
The 13 products, used in treatment of acne, dermatitis, psoriasis, fungal infections and scabies, were present in the US market for over 10 years.
Ranbaxy already has a strong presence in the acne segment with its product, Sotret Isotretinoin capsules which has a market-share of over 36 per cent (as per IMS MAT - December 2006).
The US dermatology market is estimated at 10 billion dollar and has experienced growth of 10 per cent per annum.
Ranbaxy Laboratories Inc is a wholly owned subsidiary Ranbaxy and is engaged in the sale and distribution of branded prescription products in the US healthcare system.
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