Ranbaxy to market four drugs for Daiichi Sankyo in Singapore
Japan’s second largest drugmaker, Daiichi Sankyo TYO: 4568), has announced the start of synergistic initiative to leverage the presence of its majority owned Indian subsidiary Ranbaxy Laboratories (RANB: BO) in Singapore to market innovative products originally discovered by Daiichi Sankyo.
Effective March 1, 2011, Ranbaxy will market four products of Daiichi Sankyo origin, including the antibacterial agents Cravit (levofloxacin) tablets and Cravit IV in Singapore. The products were previously commercialized by Kyowa Hakko Bio Singapore in the country. Early this year, Daiichi Sankyo and Kyowa Hakko Bio had agreed to transfer the marketing rights of the products from Kyowa Hakko Bio to Ranbaxy.
Ranbaxy has already made a contribution of 134.0 billion yen ($1.61 billion) in the first three quarters if the parent company’s 2010/11 fiscal year sales (The Pharma Letter February 11).
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