Ranbaxy Laboratories, the second largest drug company in India in terms of market share after Cipla, has acquired the entire range of skin care and lifestyle products of Ochoa Laboratories, a small to medium sized manufacturer located onthe outskirts of New Delhi.
The company did not disclose the terms of the transaction. Sources said Ranbaxy acquired about 80 products of Ochoa Laboratories and many are established brands in the domestic market.
This is the first acquisition by Ranbaxy after it was acquired by Daiichi-Sankyo of Japan.
“The move strengthens Ranbaxy’s domestic presence and market share in dermatology, a high-growth therapeutic segment for the company. I believe the Indian pharmaceutical space is ripe for consolidation and Ranbaxy’s intent is to accelerate this trend with a view to reach commanding positions, especially in the high value chronic and acute therapy areas,” said Malvinder Mohan Singh, chairman and managing director of Ranbaxy Laboratories.
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