Daiichi Sankyo to sell Ranbaxy's drugs in Venezuela

Japanese pharma major Daiichi Sankyo would sell Ranbaxy Laboratories’ products in Venezuela under their hybrid business model, the two companies said on Wednesday. Daiichi Sankyo’s subsidiary — Daiichi Sankyo Venezuela SA — would begin marketing products of Ranbaxy, which has been marketing its drugs in Venezuela through a local distributor, the two firms said. The Venezuelan drug market is the third largest in Latin America, it said.