Ranbaxy Laboratories Limited (Ranbaxy) has announced the completion of all necessary formalities and consents required for the conclusion of the acquisition transaction of RPG (Aventis) SA. With this, RPG (Aventis) SA, France, has now become a wholly owned subsidiary of Ranbaxy.

The company will continue to retain the name RPG, to leverage its strong brand equity and visibility in the French generic market. Ranbaxy will be investing additional resources on the ground and will further strengthen and grow this business in the French market, stated a company release.

On December 13, 2003, Ranbaxy had announced the signing of an agreement to buy RPG (Aventis) SA in France, subject to requisite approvals.

RPG (Aventis) was ranked fifth in the French generic market with sales of EUR 52 Mn (IMS-MAT Nov. 2003) and a market share of over 6 per cent. A wide range of 52 molecules with 18 out of the 20 best selling molecules represents the company's strong product portfolio. The company is acknowledged as a reputed high quality and reliable generic player and develops products strictly comparable to the original drugs (an important factor for pharmacists to convince patients to switch). The major therapeutic areas of the company include cardiovasculars, anti-infectives, gastro-intestinals, rheumatoid/non-steroidal anti inflammatory drugs, neurology and analgesics. The company is supported by a strong field force, business development and regulatory team.

France is the 4th largest pharmaceutical market globally with sales of US$ 19.2 Bn (MAT Dec. 02), growing at 4 per cent annually and constituting 4.8 per cent of the world pharmaceutical market. The generics market in France is about > EUR> 652 Mn and is the 5th largest after US, Japan, Germany and UK. The market has an excellent growth potential.

Commenting on the completion of the acquisition transactions, Dr Brian W Tempest, joint managing director and CEO designate, Ranbaxy, said, "This completes a further step in the expansion plans we have for Ranbaxy in Europe."

Ranbaxy Laboratories Limited, India's largest pharmaceutical company, manufactures and markets branded generic pharmaceuticals and Active Pharmaceutical Ingredients.