Ranbaxy acquires generics maker Ethimed

By Lisa Kerner

Erie, Pa., March 30 - Ranbaxy Laboratories Ltd. said it has acquired Belgium generic pharmaceutical company, Ethimed NV. Financial terms were not disclosed.

This acquisition follows similar strategic moves by the company in the larger European markets, according to a company news release.

"Ethimed offers Ranbaxy a ready and robust distribution network to exploit new product opportunities in the future," Ranbaxy's president for Europe, CIS, Africa & Latin, America, Peter Burema, said in the release.

"It also provides the company a strong base from where we can manage and expand our operations in the Benelux countries. We see this acquisition as strategic to our business in Europe."

Ranbaxy is a generic pharmaceutical company based in Gurgaon, India

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