Indian drug maker Ranbaxy Laboratories in the first quarter of this year derived sales worth 37 million dollars (28.3 million euros) on the Romanian market, 50% more than in the similar period of last year, according to the group's quarterly report.
Thus, Ranbaxy keeps up the same growth rate domestically as last year, double the pace witnessed by the market. In Romania, Ranbaxy last year acquired Terapia Cluj domestic drug maker, for 324 million dollars (270 million euros), in the biggest deal on the pharmaceutical market.
"With the integration of Terapia into the Ranbaxy fold having been completed, the combined Terapia Ranbaxy in the quarter received marketing authorisation for 20 new products to be launched in the coming months," reads Ranbaxy report. Terapia last year boasted the fastest growth among the top 20 players in the pharmaceutical industry, by around 50%, according to ZF calculations. In the first quarter of 2006, Terapia sales topped 25 million dollars, 30% higher than in the first quarter of 2005.
"With a 5.2% market share, Terapia Ranbaxy is ranked sixth in the marketplace. It has the largest field force, of 350 people, and is the biggest generics producer in Romania," Ranbaxy report also shows.
The Indian group's European sales (including Romania) totalled 93 million (71 million euros) in this year's first quarter, 78% higher than the corresponding previous period, as a result of robust sales growth in most key European countries.
"Subsequent to Romania joining the EU effective January 1, 2007, it becomes the company's third largest market globally and the largest in Europe," Ranbaxy report also reads.
Investments Ranbaxy budgeted for Terapia last year and this year go beyond 20 million dollars and are aimed at the reorganisation and modernisation of Terapia's production facilities.
The integration of Terapia was the most difficult process for Ranbaxy's management of the three acquisitions the group sealed in just one week of 2006.
Terapia Ranbaxy plans to launch more than 40 new products this year. Last November, Terapia Ranbaxy announced it finalised investments in a new logistic centre in Otopeni. Investments were meant to boost the company's warehousing capacities for all the products included in Terapia Ranbaxy's portfolio and to allow the company to provide warehousing services for Ranbaxy products imported from Italy. Terapia Ranbaxy has a commercial department including six business units and 1,200 employees, of whom 350 in the commercial team.
This year, Terapia has been the driver of Ranbaxy profit growth, according to some previous statements by the representatives of the Indian giant.
The domestic pharmaceutical market last year expanded by some 20%, to more than 1.5 billion euros (drugstore prices).
Ranbaxy in Romania
In the first quarter of this year posted sales worth $37m (28.3m euros), up 50% against the same period of last year
Last year acquired Terapia Cluj for $324m (270m euros) in the biggest deal domestically
This quarter received marketing authorisation for 20 products to be launched in the coming months
Ranks sixth in Romania, has the biggest field force, of 350 people, and is the biggest generics producer in Romania
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