| Daiichi Sankyo to Leverage Ranbaxy's Presence in Mexico for Marketing and Distribution |
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05/10/2009 13:14 (860 Day 04:06 minutes ago) | |||||
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The FINANCIAL -- Daiichi Sankyo Company Limited ("Daiichi Sankyo") and Ranbaxy Laboratories Limited ("Ranbaxy") announced on October 5 that the portfolio of Daiichi Sankyo would be commercialized in Mexico through a recently created marketing Division within Ranbaxy Mexico S.A. de C.V., a subsidiary of Ranbaxy.
This is the first time in Latin America that Daiichi Sankyo and Ranbaxy are leveraging mutual synergies generated through the Hybrid Business Model.
Remarking on the development, Mr. Takashi Shoda, President & CEO of Daiichi Sankyo, said, "We are dedicated to realize various synergies through our hybrid business model which enables both companies to fully realize their strengths. I am pleased to announce one of such synergy, our commitment to directly introduce Daiichi Sankyo products in Mexico leveraging Ranbaxy's strong platform. I believe our products will offer an excellent therapy option to the doctors and patients in Mexico."
Commenting on the occasion, Mr. Atul Sobti, CEO and Managing Director of Ranbaxy, said, "The creation of a Daiichi Sankyo Division within Ranbaxy - Mexico marks our first endeavour in creating a dedicated marketing arm for Daiichi Sankyo's portfolio of innovator products. Our understanding of Latin American markets and local presence pave the way for an efficient and immediate market entry for Daiichi Sankyo, while priming the channel for the launch of Ranbaxy speciality products in the future."
This hybrid model will enable the two companies to leverage their respective strengths in the dominant prescription segment, through the newly created Division, while continuing expansion in the rapidly evolving Generics market.
With an estimated population of 107 million people, Mexico is Latin America's second biggest market after Brazil. The annual pharmaceutical market in Mexico is about USD 10.4 billion and is ranked the 11th largest in the World.
Ranbaxy Mexico S.A de C.V. has a strong portfolio of generics and its products are available at leading generic customers and large Pharmacy chains. Additionally, it has licensing arrangements with leading Multinational companies.
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