Ranbaxy to acquire unbranded generic business of GlaxoSmithKline in Italy

By Elaine Rigoli

Tampa, Fla., March 28 - Ranbaxy Laboratories Ltd. said it will acquire the unbranded generic business of Allen, SpA, a division of GlaxoSmithKline, through the company's Italian subsidiary Ranbaxy Italia SpA.

The deal will be effective April 1, according to a news release.

"This acquisition of the Allen Generic business from [GlaxoSmithKline] will fast-track Ranbaxy's growth plans in Italy. This product portfolio complements Ranbaxy's own pipeline of products for the Italian market and will enable the company to utilize opportunities arising from future patent expiries," Ranbaxy chief executive officer Malvinder Mohan Singh said in the release.

Ranbaxy Italia was incorporated in September 2005. It is engaged in filing the company's portfolio of generic products with the Italian Health Authorities and plans to launch this portfolio over the coming years.

Ranbaxy said it plans to launch its first product, Sertralina Ranbaxy, in May.

The Italian generic market is one of the fastest-growing markets in Europe, the release said.

The value of the Italian generic market was about €350 million with an annual growth rate of 49%, the release said.

Ranbaxy, based in New Delhi, India, is a research-based, international pharmaceutical company.

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