Drug firm Ranbaxy Laboratories and its parent Daiichi Sankyo Thursday said they will launch Sevikar, a hypertension drug, in Romania under their collaborative business strategy.
New Delhi: Drug firm Ranbaxy Laboratories and its parent Daiichi Sankyo Thursday said they will launch Sevikar, a hypertension drug, in Romania under their collaborative business strategy.
Terapia Ranbaxy, a subsidiary of Ranbaxy in Romania, will launch Sevikar, a fixed dose combination of olmesartan medoxomil and amlodipine besylate tablets, Daiichi Sankyo and Ranbaxy Laboratories said in a joint statement.
".. Leveraging synergies with Daiichi Sankyo is part of our business strategy and this will be our third product introduction as part of the hybrid business model," Ranbaxy Managing Director and CEO Arun Sawhney said.
Sevikar, a product from the stable of Daiichi Sankyo, will be available in three different strengths in Romania.
The product is expected to be included on the national lists of compensated drugs benefiting patients as it will be made available at an affordable price, the statement added.
According to the company, the pharmaceutical market in Romania is valued at about USD 3.3 billion, with the cardiovascular segment being a major contributor with sales of USD 271 million in 2011.
In 2009, Terapia Ranbaxy launched Daiichi's first product an osteoporosis medication, in the Romanian market followed by the launch of anti bacterial drug in 2010.
Under the hybrid business model, Daiichi Sankyo and Ranbaxy had agreed to exploit synergies in operations to enhance their generic as well as branded business across the globe.
The two companies had entered into an arrangement under which Ranbaxy would market branded products from Daiichi's portfolio in markets where the Japanese firm does not have a presence.
Daiichi had acquired majority stake Ranbaxy in 2008 for Rs 22,000 crore.
Shares of Ranbaxy Laboratories were trading at Rs 517 on the BSE in late afternnon trade, up 1.67 percent from its previous close.