Ranbaxy acquires Mundogen generic business of GlaxoSmithKline in Spain

By Lisa Kerner

Charlotte, N.C., July 18 - Ranbaxy Laboratories Ltd., through its Spanish subsidiary, Laboratorios Ranbaxy SL, has acquired the Mundogen generic business of GlaxoSmithKline in Spain, according to a company news release.

Financial details of the transaction were not disclosed.

Ranbaxy said it plans to rapidly expand its product portfolio through the launch of the products in its pipeline and through the Mundogen acquisition.

According to March 2006 IMS data, the value of the Spanish generic market was about $750 million, with an annual growth rate of 25%.

Ranbaxy is an international pharmaceutical company based in Haryana, India.

GlaxoSmithKline is a London-based pharmaceutical company.

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