New Delhi: Ranbaxy has acquired Ethimed in Belgium. Ranbaxy has termed the Ethimed acquisition as modest compared with the Terapia deal. This acquisition is a part of Ranbaxy's Europe expansion plan.
The Belgium market is largely a branded, high priced market with increasing generic penetration. Ethimed has significant customer network, over 20 product registrations and is ranked number 10 among generic companies in Belgium.
Ranbaxy also said that they were looking at raising more money for expansion plans.
The company has also bought Allen SpA-GlaxoSmithKline Plc's generic business in Italy-on Tuesday for an undisclosed amount.
The move will allow the Company to anticipate local market dynamics and capitalise on the changing business landscape in the Benelux countries.
A large number of Indian companies are making a beeline for the European market, where drugs worth billions of dollars are expected to go off patent in the next few years.
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