To expand business of both companies
Ranbaxy Laboratories and Daiichi Sankyo Company today announced synergy in Brazil to expand the business of both companies in the country. As part of this synergy, Ranbaxy will support Daiichi Sankyo's Brazilian subsidiary, Daiichi Sankyo Brasil Farmaceutica (Daiichi Sankyo Brazil), to enter the branded generics market, in addition to its established business of providing innovative products. Ranbaxy's Brazilian subsidiary, Ranbaxy Farmaceutica would continue to independently promote Ranbaxy's generic products and also enter into branded generics in Brazil.The pharmaceutical market in Brazil is the biggest in Latin America, and it is expected to become the fourth biggest in the world in 2016. In Brazil, Daiichi Sankyo has built up its market presence with innovative pharmaceuticals through Daiichi Sankyo Brazil. On the other hand, Ranbaxy markets its generic products in Brazil through its subsidiary, Ranbaxy Farmaceutica.
With the announced synergistic collaboration, the Daiichi Sankyo Group will expand its presence in Brazil through its hybrid business model promoting innovative, branded generic and generic pharmaceuticals.
The company made this announcement during the trading hours today, 17 April 2013.
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