Tokyo, Sept 2, 2009 (JCN) - Ranbaxy Laboratories, India's largest pharmaceutical, and parent Daiichi Sankyo have announced that Terapia S.A., a subsidiary of Ranbaxy in Romania, will market the osteoporosis medication Evista in Romania. This is the first time that Daiichi Sankyo and Ranbaxy are leveraging synergies generated through the Hybrid Business Model in Europe.
With a population of 22 million people, Romania is Eastern Europe's second biggest market after Poland. Annual turnover in the Romanian pharmaceutical market totals about $2.5 billion, and the market is growing at around 20 percent a year, in local currency terms.
Established in 1921, Terapia, now Terapia Ranbaxy, has a strong brand name and a consistent track record of growth and profitability. It is the largest generic pharmaceutical company and is one of the seven largest pharmaceutical companies in Romania.
In 2006, Daiichi Sankyo acquired the marketing and distribution rights for Evista, an osteoporosis treatment, in six European countries from Eli Lilly and Company. In 2008, Daiichi Sankyo acquired additional rights for the drug covering all remaining countries in Europe, with the exception of Greece.
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