Ranbaxy Laboratories Inc. (Ranbaxy), the wholly owned subsidiary of Ranbaxy Laboratories, has acquired the US rights to a group of 13 dermatology products from Bristol-Myers Squibb (BMS).
According to an official release issued by the company to the BSE today, these products have been present in the market for over 10 years and have been utilized in the treatment of Acne, Dermatitis, Psoriasis, fungal infections and Scabies.
The US dermatology market value is estimated at $10 billion and has been growning at 10% per annum. These brands will be sold in the US market under the Ranbaxy Laboratories Inc. label and offer significant potential for growth.
Commenting on the acquisition, Venkat Krishnan, VP & Regional Director, Ranbaxy (North America), said: "The acquisition strengthens and extends the Ranbaxy franchise in the dermatology arena. It enables Ranbaxy to establish an immediate presence in high value segments, in addition to Acne, where we already have a dominant brand, Sotret®...This business opportunity also creates a broader platform for the introduction of value added line extensions and additional brands as our involvement and commitment to dermatology expands. It underscores our strategy of pursuing inorganic growth opportunities to complement internal growth."
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