Ranbaxy looking for more acquisitions: Malvinder

Ranbaxy Laboratories has more acquisitions on the cards to expand its overseas presence and technology enhancement.

Malvinder Singh, managing director of Ranbaxy, said the company continued to scout for acquisition opportunities in India, US and Europe. "This is not the end. There is more to come," he said.

The company, which recently acquired a company, Terapia, in Romania, is also planning to strengthen its manufacturing and technology capabilities for the overseas generics market.

Singh denied recent reports in the media about a possible spin off of its R&D arm into a separate company. "The company has no plans to hive off its research and development business. R&D is critical to Ranbaxy, and it will continue to be the key driver," Malvinder said.

"We will continue to look out for alliances for our new chemical entities within R&D," he added.

Terpia's business is expected to contribute over $100 million to Ranbaxy's turnover in 2006, making it the third largest market for the group displacing France. Currently, US is the largest market for the company followed by India. "The Romanian market will serve as a hub for the company's European operations. Its operations will be integrated with Ranbaxy's subsidiary in Romania, and the closing of the deal will be done by the second quarter this year," Singh said.