Ranbaxy's Romania unit to market osteoporosis drug
Pharma firm Ranbaxy Laboratories today said its Romanian arm will market Evista, a drug used for treating osteoporosis.
Terapia SA (Terapia Ranbaxy), a subsidiary of the company would market the osteoporosis medication drug in Romania, Ranbaxy Laboratories, which was acquired by Daiichi Sankyo last year, said in a filing to the Bombay Stock Exchange.
"The launch of Evista by Terapia Ranbaxy in Romania marks our first international endeavour as a global partnership. Terapia Ranbaxy is a strong player in Europe, and we will provide a unique platform to Daiichi Sankyo for the launch of Evista, and many more new products in the future," Ranbaxy CEO and Managing Director Atul Sobti said.
Terapia Ranbaxy is the largest generic pharmaceutical company.
"We continue to explore other collaborations with Ranbaxy that will help optimise our growth," Daiichi Sankyo President and CEO Takashi Shoda said.
In 2006, Daiichi Sankyo acquired the marketing and distribution rights for Evista, an osteoporosis treatment, in six European countries from Eli Lilly and Company, it said.
In 2008, Daiichi Sankyo acquired additional rights for the drug covering all remaining countries in Europe, with the exception of Greece, the filing said.
Shares of Ranbaxy Laboratories were trading at Rs 332 on the BSE, up 1.34 per cent from previous close.
September 08, 2009