Healthcare Industry News: Ranbaxy
News Release - May 29, 2007
Ranbaxy Expands its Presence in the U.S. Dermatology Market Through the Acquisition of 13 Brands from Bristol Myers SquibbPRINCETON, N.J., May 29 (HSMN NewsFeed) -- Ranbaxy Laboratories Inc. (Ranbaxy), a wholly owned subsidiary of Ranbaxy Laboratories Limited (RLL), announced today that it has acquired from Bristol-Myers Squibb Company (BMS) the U.S. rights to a group of 13 dermatology products.
These highly regarded products have been present in the market for over 10 years and have been utilized in the treatment of Acne, Dermatitis, Psoriasis, Fungal infections and Scabies. The U.S. dermatology market value is estimated at $10 billion and has experienced growth of 10% per annum.
Ranbaxy already has a strong presence in the acne segment of the dermatology market with its best-selling product, "Sotret® Isotretinoin Capsules USP" for the treatment of severe recalcitrant nodular acne. Sotret® is the largest selling brand among the isotretinoin brands with a market-share in excess of 36% (Source: IMS: MAT - December 2006).
Commenting on the acquisition, Venkat Krishnan, Vice President and Regional Director for Ranbaxy in North America, said, "The acquisition from BMS of the U.S. rights to 13 dermatology products strengthens and extends the Ranbaxy franchise in the dermatology arena. It enables Ranbaxy to establish an immediate presence in the high value segments of Dermatitis, Psoriasis, Anti- fungals and Scabies, in addition to Acne, where the Company already has a dominant brand."
The 13 acquired products have significant synergy and represent an opportunity towards building a "dermatology business" with a predictable revenue stream.
These brands will be sold in the U.S. market under the Ranbaxy Laboratories Inc. label and offer significant potential for growth. Ranbaxy believes that incremental sales from the 13 products can be generated through active promotion.
Venkat Krishnan added, "These products collectively create opportunities that can be effectively leveraged through our current franchise established through Sotret®. This business opportunity also creates a broader platform for the introduction of value added line extensions and additional brands as our involvement and commitment to dermatology expands. It underscores our strategy of pursuing inorganic growth opportunities to complement internal growth."
Ranbaxy Laboratories Inc. (RLI) based in Princeton, New Jersey, is a wholly owned subsidiary of Ranbaxy Laboratories Limited (RLL), India's largest pharmaceutical company. RLI is engaged in the sale and distribution of branded prescription products in the U.S. healthcare system.
Ranbaxy Laboratories Limited, headquartered in India, is an integrated, research based, international pharmaceutical company producing a wide range of quality, affordable generic medicines, trusted by healthcare professionals and patients across geographies. Ranbaxy's continued focus on R&D has resulted in several approvals in developed markets and significant progress in New Drug Discovery Research. The Company's foray into Novel Drug Delivery Systems has led to proprietary "platform technologies," resulting in a number of products under development. The Company is serving its customers in over 125 countries and has an expanding international portfolio of affiliates, joint ventures and alliances, ground operations in 49 countries and manufacturing operations in 11 countries.
Source: Ranbaxy Pharmaceuticals
Issuer of this News Release is solely responsible for its
Please address inquiries directly to the issuing company.