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Ranbaxy leads race for France`s RPG Aventis
New Delhi, Sept 03: Pharma major Ranbaxy is leading the race for acquiring RPG Aventis, the France-based generic drug major. Two European companies are also learnt to be in the race for RPG Aventis, which has a turnover of about $60m (about Rs 270 crore).
New Delhi, Sept 03: Pharma major Ranbaxy is leading the race for acquiring RPG Aventis, the France-based generic drug major. Two European companies are also learnt to be in the race for RPG Aventis, which has a turnover of about $60m (about Rs 270 crore).
New Delhi, Sept 03: Pharma major Ranbaxy is leading the race for acquiring RPG Aventis, the France-based generic drug major. Two European companies are also learnt to be in the race for RPG Aventis, which has a turnover of about $60m (about Rs 270 crore).
If successful, it will boost Ranbaxy’s chance of entering the top league of generic players in the European market. When contacted, a Ranbaxy official spokesperson refused to comment on the acquisition bid. “We do not wish to comment on speculations,” he said. Ranbaxy’s CEO and MD, DS Brar said that the company was looking for an acquisition in Europe as part of its second phase of global expansion, which would focus on Europe. Sources said Ranbaxy is keen on establishing itself in a big way in the French market and is, therefore, making an aggressive bid for the French drug major. Ranbaxy has also appointed a merchant banker for the acquisition bid. The merchant banker’s identity, however, is still not known.
RPG Aventis has a large number of generic products in most of the therapeutic segments, especially in antibiotics, anti-allergens, cardio-vascular drugs and drugs for the nervous system. It also enjoys a significant presence in the French market.
Ranbaxy’s France move comes close on the heels of Cadila Healthcare’s acquisition of Alpharma France for 5.5m euro (Rs 27.5 crore). Wockhardt also closed an acquisition deal in the UK this quarter when it bought CP Pharmaceuticals for Rs 83 crore. Sources said the proposed acquisition in France is expected to play a prominent part in Ranbaxy’s current plan to make Europe its second largest market in terms of revenues after the US. At present, the European market accounts for about 11% of the company’s global sales.
Interestingly, Ranbaxy has made five product filings in France, but is yet to get a single approval. Bureau Report
If successful, it will boost Ranbaxy’s chance of entering the top league of generic players in the European market. When contacted, a Ranbaxy official spokesperson refused to comment on the acquisition bid. “We do not wish to comment on speculations,” he said. Ranbaxy’s CEO and MD, DS Brar said that the company was looking for an acquisition in Europe as part of its second phase of global expansion, which would focus on Europe. Sources said Ranbaxy is keen on establishing itself in a big way in the French market and is, therefore, making an aggressive bid for the French drug major. Ranbaxy has also appointed a merchant banker for the acquisition bid. The merchant banker’s identity, however, is still not known.
RPG Aventis has a large number of generic products in most of the therapeutic segments, especially in antibiotics, anti-allergens, cardio-vascular drugs and drugs for the nervous system. It also enjoys a significant presence in the French market.
Ranbaxy’s France move comes close on the heels of Cadila Healthcare’s acquisition of Alpharma France for 5.5m euro (Rs 27.5 crore). Wockhardt also closed an acquisition deal in the UK this quarter when it bought CP Pharmaceuticals for Rs 83 crore. Sources said the proposed acquisition in France is expected to play a prominent part in Ranbaxy’s current plan to make Europe its second largest market in terms of revenues after the US. At present, the European market accounts for about 11% of the company’s global sales.
Interestingly, Ranbaxy has made five product filings in France, but is yet to get a single approval. Bureau Report