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Ranbaxy to buy Allen's unbranded generics
NEW DELHI:
Ranbaxy Laboratories on Monday said it would acquire the unbranded generic business of Allen SpA, a division of GlaxoSmithKline (GSK), in Italy.
The acquisition, to be done through Ranbaxy's Italian subsidiary, Ranbaxy Italia SpA, will come into effect from April 1 this year, the company said in a statement.
Commenting on the acquisition, Ranbaxy CEO and Managing Director, Malvinder Mohan Singh, said, "This acquisition of the Allen generic business from GSK will fast track Ranbaxy's growth plans in Italy.
"This product portfolio complements Ranbaxy's own pipeline of products for the Italian market and will enable the company to utilise opportunities arising from future patent expiries." — PTI
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