Ranbaxy Laboratories Limited will market JB Chemicals & Pharmaceuticals’ key herbal range brand, Doktor Mom, in the Romanian market.
JBCPL’s The Doktor Mom herbal range includes the syrup, lozenges and rub variants for the cough and cold segment. While Ranbaxy will market these products in Romania, JBCPL will continue to manufacture them and will also provide promotional input for the brand.
Commenting on the development, Malvinder Mohan Singh, President, Pharmaceuticals, Ranbaxy, said, “We welcome the opportunity to join hands with JBCPL towards creating a productive relationship that will leverage each others capabilities. The agreement reinforces our strategy to utilize licensing opportunities to further our growth in the overseas markets.”
According to a Ranbaxy release, Doktor Mom is the brand leader amongst cough and cold segment in Russia, Ukraine and CIS countries. This is the first time JBCPL has out-licensed its Doktor Mom brand.
“This gives us an entry into the European markets with our biggest brand. Having a partner like Ranbaxy with a good understanding of the market in Romania should both accelerate and maximize our opportunities,” said J B Mody, chairman of JBCPL.
Romania is one of the fastest growing markets for Ranbaxy in Europe with sales of USD 6.4 Mn in 2004, achieving a growth of 127%. Some of the key Ranbaxy brands in this market include Zanocin (Ofloxacin), Simvor (Simvastatin) and Serlift (Sertraline) which are among the top selling brands.