The acquisition follows similar, recent strategic moves by Ranbaxy in Romania and Italy, and will allow Ranbaxy to anticipate local market dynamics and capitalize on the changing business landscape in Europe. It is the intention of Ranbaxy to manage operations throughout the Benelux countries from Ethimed in Belgium.
“Ethimed offers Ranbaxy a ready and robust distribution network to exploit new product opportunities in the future. It also provides the company, a strong base from where we can manage and expand our operations in the Benelux countries. We see this acquisition as strategic to our business in Europe,” said Peter Burema, president of Ranbaxy’s operations in Europe, CIS, Africa and Latin America.
The Belgium market is largely a branded, high priced market with increasing generic penetration. The acquisition positions Ranbaxy favorably to capture a significant portion of this expanding market.
Ethimed is an established generics company in Belgium with a significant customer network, especially among pharmacies. It has over 20 product registrations and is ranked number 10 among generic companies in Belgium.