Ranbaxy buys leading Romanian pharma company
Indian multinational Ranbaxy has purchased 96.7% of Terapia from Advent International for US $324m. The combination of Terapia with Ranbaxy's existing Romanian activities creates the number one generics company in the Romanian market.
Indian multinational Ranbaxy has purchased 96.7% of Terapia from Advent International for US $324m. The combination of Terapia with Ranbaxy's existing Romanian activities creates the number one generics company in the Romanian market.
Terapia is the largest independent generic company in Romania, which had pro forma 2005 sales of around US $80m. It has a broad portfolio, r&d and bioequivalence facilities, low cost manufacturing, and a strong distribution network. Ranbaxy says it will provide Terapia with additional products to launch in the domestic market at very cost-competitive levels.
Ranbaxy, meanwhile, gains access to Terapia's product basket of 157 MAs with a strong focus on the fast growing segments of CVS, CNS and musculoskeletal therapeutic segments.
Romania is the fastest growing pharmaceutical market in the Central & Eastern European region with an approximate annual growth of 34% from 2002 to 2005 versus the growth of 24% for the region.
Terapia also has a presence outside of Romania with 30% of its product portfolio registered in over 15 countries including the high growth generic markets of Russia, Ukraine and Poland.
"Further investment into Terapia's r&d capabilities and manufacturing facilities will create a major regional hub for the Ranbaxy business," said Stephen Stead, ceo of Terapia.