Another buy for Ranbaxy: Ethimed
Continuing its recent spending spree, Ranbaxy Laboratories, India's largest pharmaceutical company and among the top 10 global generic pharmaceutical players, says that it has bought another firm, this time the Belgian generics company Ethimed NV.
Financial terms of the transaction were not disclosed, but this was the third acquisition announced by Ranbaxy within just one week. Days earlier it had revealed the takeover of Romania's Terapia and GlaxoSmithKline's Italian branded generics operations (Marketletter April 3). The acquisitions are being funded by the proceeds of a $400.0 million overseas bond issue by Ranbaxy.
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