Daiichi Sankyo Company and Ranbaxy Laboratories have decided to market the osteoporosis medication, Evista in Romania through Terapia S.A., a subsidiary of Ranbaxy in Romania. This is the first time in Europe that Daiichi Sankyo and Ranbaxy are leveraging synergies generated through the Hybrid Business Model.

Takashi Shoda, president & CEO of Daiichi Sankyo, said, "We are delighted to announce this latest of the many synergies we will realize through our cooperation with Ranbaxy. We continue to explore other collaborations with Ranbaxy that will help optimize our growth."

Commenting on the occasion, Atul Sobti, CEO and managing director of Ranbaxy, said, "The launch of Evista by Terapia Ranbaxy in Romania marks our first international endeavour as a global partnership. Terapia Ranbaxy is a strong player in Europe, and we will provide a unique platform to Daiichi Sankyo for the launch of Evista, and many more new products in the future."

With a population of 22 million people, Romania is Eastern Europe's second biggest market after Poland. Annual turnover in the Romanian pharmaceutical market totals about US$ 2.5 billion, and the market is growing at around 20 per cent a year, in local currency terms.

Established in 1921, Terapia, now Terapia Ranbaxy, has a strong brand name and a consistent track record of growth and profitability. It is the largest generic pharmaceutical company and is one of the seven largest pharmaceutical companies in Romania.

In 2006, Daiichi Sankyo acquired the marketing and distribution rights for Evista, an osteoporosis treatment, in six European countries from Eli Lilly and Company. In 2008, Daiichi Sankyo acquired additional rights for the drug covering all remaining countries in Europe, with the exception of Greece.