Indian pharmaceuticals producer Ranbaxy Laboratories, which acquired the domestic producer Terapia last year, could see its business on the domestic market double between 2010 and 2012, encouraged by the positive annual rate at which new generic drugs are being released.
"We will probably see a doubling of our business between 2011 and 2012, maybe even in 2010. Each year, we aim to launch around 40 new drugs and plan our growth rate based on these launches. The products scheduled for launch within the next few years have a very big growth potential," stated Dragos Damian, CEO at Terapia Ranbaxy.
According to the latest available data, the consolidated turnover of Terapia and Ranbaxy, including exports, stood at 110 million dollars (approximately 88 million euros) last year. Therefore, a doubling could result in a 220 million-dollar turnover for 2010 (176 million euros, calculated at last year's exchange rate).
Last year, Ranbaxy acquired the domestic producer Terapia Cluj in Romania, for 324 million dollars (270 million euros), in the biggest ever transaction on the Romanian pharmaceuticals market.
Before the acquisition, Ranbaxy only had a representative office on the domestic market.
"The drug market is growing at an annual rate of at least 15%, which will bring the market to a value of 4 billion euros by 2012," explained Damian, adding that generic drugs should account for 40% of the market, excluding non-prescription drugs.
The domestic pharmaceuticals market increased by around 20% last year, to over 1.5 billion euros (drugstore prices).
Terapia saw the fastest business growth among the top 20 players in the pharmaceutical industry, of approximately 50%, according to ZF calculations.
Terapia Ranbaxy has recently decided to auction off a nine-hectare plot of land in Cluj-Napoca. "The land is valued at 15-20 million euros. We will sell to the buyer who convinces us that they have the best business. If we have ten similar offers, we will consult with the local authorities to see which of the business offers is the best for Cluj," said Damian.
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