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Ranbaxy to acquire the unbranded generic business of GlaxSmithKline in Italy

29 Mar 2006 - Ranbaxy Laboratories Limited announced that the Company will acquire the unbranded generic business of Allen S.p.A, a division of GlaxoSmithKline (GSK), in Italy, through Ranbaxy's Italian subsidiary, Ranbaxy Italia S.p.A.. The deal will come into effect from April 01, 2006.
 
Commenting on the acquisition, Malvinder Mohan Singh, CEO and MD, Ranbaxy Laboratories Ltd., 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."
 
Ranbaxy's Italian operation, Ranbaxy Italia S.p.A., was incorporated in September 2005. It is currently engaged in filing Ranbaxy's portfolio of generic products with the Italian Health Authorities and plans to launch this portfolio over the coming years. Ranbaxy plans to launch its first product, 'Sertralina Ranbaxy', in May, 2006.