Next month Peter Burema will become the new chief executive of the drug manufacturer Terapia, according to the decision of the Board of Directors of Terapia-Ranbaxy. He replaces Stephen Stead in this position and will retain his position as president of Ranbaxy Laboratories Limited for Europe, The Commonwealth of Independent States (CIS), Africa and Latin America, a position he took over last year. "This position indicates the strong commitment that Ranbaxy has made to the Romanian market and the role we see appropriate for the combined operations as part of the growth strategy of Ranbaxy for Europe and the CIS," stated Peter Burema. Burema has been working for Ranbaxy since 2000. Last week, the Indian company Ranbaxy announced that the acquisition process of 96.7% of Terapia''s shares, the biggest generic products company in Romania was completed. The Indians paid 324 million dollars (some 270 million euros) after having received the approval of the Competition Council. The Board of Directors of Terapia - Ranbaxy also has four new directors appointed by Ranbaxy - Ram S. Ramasundar, Peter Burema, Pushpinder Bindra and Vasi Irimia. ZF
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