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news.India's Ranbaxy Laboratories has acquired GlaxoSmithKline's Spanish generics business, Mundogen. Financial terms of the deal were not disclosed.
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“The Mundogen generic business acquisition from GSK is in line with our M&A strategy to focus on the EU markets where we continue to see growth opportunities. The acquisition will further consolidate our presence in the rapidly growing Spanish generic market and strengthen our product portfolio,” said Dr Mohan Singh, CEO of Ranbaxy Laboratories.
The acquisition will add to the activities of Ranbaxy’s Spanish operation, Laboratorios Ranbaxy SL which currently markets over 40 products in the market. Ranbaxy said that it has plans to rapidly expand its product portfolio through the launch of the products in its pipeline and through the Mundogen acquisition.
Ranbaxy has a presence in 21 of the 25 EU countries and is in the process of consolidating its presence in Europe. The company already has significant operations in the UK, France, Germany, Spain, Italy and Romania.