Ranbaxy Laboratories acquires Be-Tabs Pharmaceuticals

Ranbaxy Laboratories acquires Be-Tabs Pharmaceuticals

Ranbaxy Laboratories has announced that they are acquiring Be-Tabs Pharmaceuticals (Pty) Ltd. With this acquisition, Ranbaxy has strengthened its position in the South African pharmaceutical market.

The deal is worth around USD 70 million and Ranbaxy would now have a 1.6 per cent market share in that country. This happens to be their fourth major acquisition this year.

Ranbaxy’s acquisition would require approval from the South Africa’s Competition Council Authority. They are hoping to complete the formalities by the first quarter of next year.

Malvinder Mohan Singh, CEO & managing director, Ranbaxy spoke on this deal: “Except amoxycilin none of the products currently marketed by Ranbaxy and Be-Tabs overlap. This results in considerable synergies and further strengthens Ranbaxy’s foothold in South Africa. It reinforces our position by expanding our portfolio in a key market that is exhibiting strong growth potential.”