RANBAXY TO ACQUIRE SOUTH AFRICAN FIRM FOR $70 MILLION

Generic drug firm Ranbaxy Laboratories plans to acquire Be-Tabs Pharmaceuticals for $70 million, the company announced Dec. 1.

Be-Tabs is the fifth-largest generic firm and the largest penicillin manufacturer in South Africa with a strong OTC portfolio and significant brand recognition, according to Ranbaxy.

Executives in the company's New Delhi headquarters did not respond to email inquiries on what prompted the decision, but a representative at the company's North American operations in New Jersey said the acquisition results in "considerable synergies and further strengthens the company's position in the South African region."

Final acquisition is subject to approval by the South African Competition Council Authority. It is expected to reach a decision in the first quarter of 2007, Ranbaxy said.

This is the latest purchase in Ranbaxy's acquisition blitz of generic firms throughout the year. Key acquisitions include Romania's Terapia, Belgium's Ethimed and GlaxoSmithKline's unnamed generic drug business.