Ranbaxy Laboratories Limited has entered into the Italian Pharmaceutical market with the launch of Ranbaxy Italia S.P.A., in Milan, Italy, a wholly owned subsidiary of Ranbaxy.
According to a company release, the company is charting an organic growth route for itself and will be introducing high quality generic medicines from its extensive international product portfolio by early 2006.
Commenting on the launch of its Italian operations, Malvinder Mohan Singh, president, Pharmaceuticals and Executive Director, RLL, said, "We are delighted at the launch of our new subsidiary here. I strongly believe that Generic medicines have an important role to play in serving the priorities of the Government to make healthcare more affordable and accessible to all. We are deeply committed to this task and will soon be introducing a number of products in Italy for the benefit of all patients."
Ranbaxy's move helps it to consolidate its presence in the top 5 European pharmaceutical markets while recording its presence in 21 of the 25 EU countries. Italy is ranked as the fourth largest pharmaceuticals market in Europe after Germany, UK and France. The total size of the pharmaceutical market in Italy was at US$ 16.5 bn (Source IMS Dec 2003), added the release.