Ranbaxy buys Glaxo Italy armOur Corporate Bureau / New Delhi March 28, 2006Ranbaxy Laboratories today announced the acquisition of the unbranded generics business of Allen SpA, a division of GlaxoSmithKline (GSK) in Italy, for an undisclosed sum.With Allen SpA, Ranbaxy has acquired a workforce of more than 3,000, a research and development centre for drug discovery, two state-of-the-art certified manufacturing plants and a sales force of medical representatives spread across the country.The acquisition, through Ranbaxy Italia SpA, a subsidiary, will come into effect on April 1, this year. The $420 million Italian generics market is one of the fastest growing markets in Europe, with an annual growth rate of 49 per cent. The total pharmaceutical market in Italy is worth about $14 billion, according to IMS figures.
