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Meera Mohanty

New Delhi April 20 Ranbaxy will be investing $20 million (Rs 83 crore) in its Romanian facility, Terapia in the next two years.

The Gurgaon-based pharma company, which acquired the facility last year for about $324 million, has since made it its strategic hub for European markets.

"A significant portion of the investment will go towards expansion of manufacturing capacity and R&D," said Mr Ramesh L. Adige, Executive Director, Ranbaxy.

Terapia received market authorisations for 20 new products last month mainly from the cardiovascular and antibiotics segment, and hopes to bring them to the market in the coming months. Terapia also has manufacturing and import authorisation, which as per EU norms and standards allows it to batch test and release products manufactured outside the European Union.

In India Ranbaxy has been looking to expand its portfolio through partnerships and strategic investments. The company picked up stake in Hyderabad-based Jupiter Bioscience recently.

More Stories on : Overseas Investments | Pharmaceuticals | Ranbaxy Laboratories Ltd

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