Ranbaxy 1Q Sales In Romania Up 12.5% YY, To $27M

05.10.2011 By Andrei Circhelan

Indian pharmaceutical group Ranbaxy posted a 12.5% increase in its first-quarter sales in Romania, to $27 million from $24 million, according to the company's quarterly financial report released Tuesday.

First quarter sales in Europe cumulated $74 million, up 10% on the same interval of the previous year, while on a group level sales dropped 12.4% to $474 million.

Ranbaxy Laboratories, India's largest medicine maker, bought Romanian drug maker Terapia Cluj-Napoca for $324 million in 2006.

Japanese pharmaceutical group Daiichi Sankyo holds 64% in Ranbaxy.

Terapia Ranbaxy expects sales to reach 450-500 million lei (EUR116 million) by 2015, from RON350 million in 2010, following the launch of new products and higher consumption of generic medicine, company general manager Dragos Damian told MEDIAFAX in January.