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Ranbaxy keen to sell Indian rivals' drugs in US
By siliconindia staff writer
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Wednesday, 06 October 2004, 19:30 IST
MUMBAI: India's largest drug maker by sales, Ranbaxy Laboratories Ltd, is in talks with a number of Indian companies to license their drugs for overseas sales, its chief executive officer said on Tuesday.
"We are very keen on doing licensing deals with Indian companies," Brian Tempest, who is also Ranbaxy's managing director, told Reuters in an interview. "We think that is an area of incremental growth."
"There are a number of Indian companies that have good products that are FDA approved, or FDA approvable, in areas that we are not in, and we say to them rather than go and cut a deal with an American company, come and cut a deal with Ranbaxy because we are one of the top 10 generic players in the US."
Many Indian firms are targeting the overseas generics market and upgrading their facilities to meet the quality standards of the US Food and Drug Administration (FDA) as well as drug regulators in other parts of the world. But most rely on a partner to sell their drugs overseas.
Tempest said Ranbaxy was scouting for suitable products from other Indian companies to sell in countries apart from the United States, and thereby enhance its portfolio.
"We are pretty advanced on a number of fronts."
Tempest also said Ranbaxy was on track to achieve global sales growth of more than 20 per cent for 2004. The firm reports third-quarter results on October 15.