The Hindu Business Line : Ranbaxy in jt. venture for marketing AIDS drugs in S. Africa

CIH will enable the joint venture to access the South African market as well as make available its expertise to gain entry into the new markets of Botswana and Namibia.

New Delhi , Feb. 6

RANBAXY Laboratories Ltd has entered into a 70:30 joint venture with Community Investment Holdings (CIH), South Africa, to market the former's range of anti-AIDS drugs in the African sub-continent.

Called Sonke Pharmaceuticals (Pty) Ltd, products will be sold under the Sonke brand name in South Africa, Namibia and Botswana. The product delivery mechanism to the patients will be through Government tenders, retail pharmacists, HIV/AIDS disease management companies, medical aids, non-Governmental organisations and independent community treatment organisations.

According to the Actuarial Society of South Africa, AIDS has been the cause of around 1.5 million deaths in South Africa and more than 5.2 million people or 11 per cent of the population are living with HIV.

Dr Anna Mokgokong, Executive Chairperson of CIH, said CIH will enable the joint venture to access the South African market as well as make available its expertise to gain entry into the new markets of Botswana and Namibia. She added, currently dossiers have been submitted to the regulatory authorities of South Africa, Botswana and Namibia and the company expects approvals soon.

Since 2001, Ranbaxy has been providing ARV medicines at affordable prices. The company has already filed a range of ARVs for US FDA approvals. The World Health Organisation has also included a number of Ranbaxy's ARVs in its pre-qualification list.

Shares of Ranbaxy today closed at Rs 414.2 on the Bombay Stock Exchange, up from a month ago's closing price of Rs 369.