RANBAXY BUYS TERAPIA
Indian drugmaker Ranbaxy has acquired Terapia, the largest independent generic drug company in Romania, for $324 million. Ranbaxy will buy 96.7 percent of Terapia from Advent International, an international private equity firm.
With the Terapia acquisition, Ranbaxy joins a growing list of Indian companies hoping to expand within the European drug market, which is expected to grow exponentially in the coming years. In 2005, Ranbaxy posted European sales of $202 million, while Terapia posted a sales totaling $80 million.
Terapia currently has 150 registered products in its portfolio, and is expected to release 60 new products during the next three years, the company said.