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Daiichi Sankyo Company Ltd and Ranbaxy Laboratories Ltd on Tuesday announced the expansion of business in Mexico to maximise their hybrid business model.
As part of the plan, the two companies will launch Daiichi Sankyo's Olmesartan Medoxomil, used to treat high blood pressure, in Mexico before the year-end.
Daiichi Sankyo Mexico S.A. de C.V, a newly established subsidiary of Japanese drug major Daiichi Sankyo, and Ranbaxy Mexico S.A de C.V. will leverage the hybrid business model in Mexico by utilising the business know-how and cost advantage of Ranbaxy, thereby offering affordable high quality generic medicines.
“We are pleased to announce the synergistic business development with Ranbaxy in Mexico,” said Mr Joji Nakayama, President & CEO of Daiichi Sankyo.
“We are determined to work with Ranbaxy to further serve diversifying medical needs in this strongly emerging market.”
The Japanese firm owns 64 per cent in Ranbaxy. The two had announced a joint go-to-market strategy in a number of countries earlier.
Mr Arun Sawhney, Managing Director of Ranbaxy, said, “Mexico is an important emerging market for us, and Ranbaxy and Daiichi Sankyo will work together in providing innovative options and solutions to customers through the Hybrid Business Model.”
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