Gurgaon-based Ranbaxy Laboratories today said it will continue to pursue acquisitions for growth, despite the change in ownership of the company.
"We will look at good growth organically in India and overseas, and also at acquisitions in both these markets. As the industry continues to consolidate, it will provide us opportunity for acquisitions, we keep evaluating opportunities," Ranbaxy CEO and MD Malvinder Mohan Singh told PTI on the sidelines of World Economic Forum here.
He said the company's growth strategy remained the same despite Japanese drug firm Daiichi Sankyo acquiring majority stake in it last year for over Rs 21,000 crore. The Singh family had exited Ranbaxy by selling off their 34.8 per cent stake.
"There is a change in shareholding but management team is the same. Our strategy as we go forward would be to continue to grow the domestic business strongly and also focus on strengthening our international business not only through organic growth," he said.
"We will keep looking at acquisitions in both India as well as overseas market," Singh said.
Speaking over the issue of impact of economic slowdown on the sector, he said, pharma is also a "recession prone sector" and is comparatively in a better position as medicines are a necessity rather than a luxury.
He, however, made it clear that it would be wrong to say that there is absolutely no impact of slowdown. There is going to be some sort of slowdown but as compared to other industries it is at much comfortable position.