Financial Daily from THE HINDU group of publications
Wednesday, Dec 08, 2004
Financial Daily from THE HINDU group of publications Wednesday, Dec 08, 2004 |
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Corporate
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Mergers & Acquisitions Ranbaxy in talks for German buy Our Bureau
New Delhi , Dec. 7 AFTER acquiring the French company RPG (Aventis), Ranbaxy Laboratories is in talks to buy out a company in Germany. Dr Brian Tempest, CEO and Managing Director, Ranbaxy, was however not willing to give a time frame by when the acquisition would be complete. "When we bought a French company, it took about two to three years," he said, declining to give any financial details. The company is expected to see a 15-20 per cent increase in turnover in 2004 compared with Rs 3,743.78 crore registered in 2003. This is mainly on account of a growth in Brazil, Russia, India and China. On the impact of the new patent regime on the company, Dr Tempest said, "It is not going to matter much. We will be affected by what happens in the US generic market." The US business contributes close to 50 per cent of Ranbaxy's topline, while Europe contributes about 20 per cent. The Indian market accounts for 18-20 per cent of its business.
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