Business Daily from THE HINDU group of publications
Tuesday, May 29, 2007
ePaper
Business Daily from THE HINDU group of publications Tuesday, May 29, 2007 ePaper |
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Corporate
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Announcements
Our Bureau
New Delhi May 28 Ranbaxy Laboratories Inc, the wholly owned US subsidiary of the Indian pharma major, has acquired the rights to 13 dermatology products from Bristol-Myers Squibb (BMS) for a value of $26 million or Rs 105 crore. "The acquisition from BMS of the US rights to 13 dermatology products strengthens and extends the Ranbaxy franchise in the dermatology arena," said Mr Venkat Krishnan, Vice-President and Regional Director for Ranbaxy in North America, in a company communiqué. According to Ranbaxy, the products which totalled sales of $15 million or more than Rs 60 crore for 2006, have been in the market for 10 years and are used in the treatment of dermatitis, psoriasis, fungal infections, scabies and acne. RLI already sells the registered acne capsules Sotret and claims the drug is the largest selling brand among the Isotretinoin brands and enjoys a 36 per cent market-share in its category. The products will be sold in the US market under the Ranbaxy Laboratories Inc label. And the company believes that incremental sales from the 13 products can be generated through active promotion. The US dermatology market is estimated at $10 billion and is reported to be growing annually at 10 per cent.
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