Ranbaxy laboratories has added another feather to its cap.It confirmed the acquisition of Be-Tabs the South African pharma major for a whooping $70 million.This will make the company the fifth largest generic pharmaceutical company in South Africa.
The deal is expected to give Ranbaxy local manufacturing capability.As part of this acquisition, Ranbaxy has concluded a Black Empowerment transaction with a Community Investment Holding(CIH) group company.Ranbaxy has also planned a major upgrade of the Be-Tabs manufacturing facility to bring its factories in resonance with new standards.The comapny expects to cash in on the brand equity of the South african firm and expects to appease the local markets.
This would lead to the further enhancement of the products portfolio of Ranbaxy especially in the acute and over the counter products stream.Ranbaxy has operations in South Africa since 1996.
Source:
www.moneycontrol.com
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