Daiichi Sankyo Company, (Daiichi) and Ranbaxy Laboratories announced the expansion of business in Mexico to maximize their Hybrid Business Model, encompassing both innovative and affordable, high quality, generic medicines.
Daiichi Sankyo and Ranbaxy (collectively “the Group”) have agreed to expand the Group's business in Mexico with the launch of Olmesartan medoxomil. The product is expected to be introduced to the market before the end of 2011. Daiichi Sankyo Mexico S A de C V (DSMX), a newly established subsidiary of Daiichi Sankyo, and Ranbaxy Mexico S A de C V (RMEX) will leverage the Group's Hybrid Business Model in Mexico by utilizing the business know-how and cost advantage of Ranbaxy, thereby offering both innovative and affordable, high quality generic medicines.
“We are pleased to announce the synergistic business development with Ranbaxy in Mexico,” said Joji Nakayama, president and CEO of Daiichi Sankyo. “We are determined to work with Ranbaxy to further serve diversifying medical needs in this strongly emerging market.”
Commenting on the development, Arun Sawhney, managing director of Ranbaxy, said, “Mexico is an important emerging market for us, and Ranbaxy and Daiichi Sankyo will work together in providing innovative options and solutions to customers through the Hybrid Business Model.”
Daiichi Sankyo and Ranbaxy will continue to reinforce their respective and consolidated business platforms over the longer term by further accelerating their global business coordination.
Olmesartan medoxomil is a member of the Angiotensin Receptor Blocker (ARB) class of anti-hypertensive medications that help lower blood pressure by blocking the angiotensin II receptor on the blood vessels and antagonizing the release of the hormone which causes salt retention and increased blood volume. Olmesartan medoxomil is available in more than 60 countries worldwide.
RMEX, a subsidiary of Ranbaxy, has already been delivering a strong portfolio of generic medicines for a wide range of therapeutic segments in Mexico. In October 2009, RMEX created a division for the future introduction of Daiichi Sankyo's innovator products into the Mexican market. With an estimated population of 107 million people, Mexico is the 14th largest pharmaceutical market in the world, and is the second largest in Latin America. The size of the pharmaceutical market in Mexico is approximately US$ 11.4 billion (2010).