Ranbaxy gets nod to buy 96.7% stake in Romanian co
Ranbaxy Laboratories said it has got approval from the Romanian Competition Council for acquiring 96.7% stake in Terapia.
By TNN |
Ranbaxy Laboratories said it has got approval from the Romanian Competition Council for acquiring 96.7% stake in Terapia. Ranbaxy last month announced acquisition of Terapia, a leading generics company in Romania, for $324m. Ranbaxy is acquiring Terapia through its holding company, Ranbaxy Netherlands BV.
“With the completion of the transaction, Romania now becomes the third largest market for us in terms of revenue. We are deeply committed to developing our operation here as a strategic hub for Europe and CIS,” Ranbaxy’s MD & CEO Malvinder Singh said.
This deal combines the strengths of the two leading generic companies and allows the Ranbaxy to leverage its expanded base in the rapidly growing Romanian pharmaceuticals market across the European Union and the CIS markets.
“With the completion of the transaction, Romania now becomes the third largest market for us in terms of revenue. We are deeply committed to developing our operation here as a strategic hub for Europe and CIS,” Ranbaxy’s MD & CEO Malvinder Singh said.
This deal combines the strengths of the two leading generic companies and allows the Ranbaxy to leverage its expanded base in the rapidly growing Romanian pharmaceuticals market across the European Union and the CIS markets.
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