Ranbaxy, Daiichi Sankyo to collaborate in Brazil to expand business

 NEW DELHI: Drug major Ranbaxy LaboratoriesBSE 2.37 % and its Japanese parent Daiichi Sankyo on Wednesday announced synergies in Brazil to expand their business in the Latin American nation.

As part of the collaboration, Ranbaxy will support Daiichi Sankyo's Brazilian subsidiary,
Daiichi Sankyo Brasil Farmaceutica Ltda to enter the branded generics market, in addition to its established business of providing innovative products, Ranbaxy said in a statement.

"With the announced synergistic collaboration, the
Daiichi Sankyo Group will expand its presence in Brazil through its hybrid business model promoting innovative, branded generic and generic pharmaceuticals," it added.

In Brazil, Daiichi Sankyo has built up its market presence with innovative pharmaceuticals through Daiichi Sankyo Brazil.

On the other hand, Ranbaxy markets its generic products in Brazil through its subsidiary,
Ranbaxy Farmaceutica.

The pharmaceutical market in Brazil is the biggest in
Latin America, and it is expected to become the fourth biggest in the world in 2016. Earlier, this year Ranbaxy and Daiichi Sankyo integrated their business operations in Thailand as part of strategy to maximise synergies.