Ranbaxy In USA By 1998?

Indian pharmaceutical company Ranbaxy hopes to begin marketing itsproducts in the USA by 1998, chairman Parvinder Singh told Reuters in a visit to the firm's R&D center outside New Delhi.

Mr Singh said the firm is hoping that pending US approvals will come through in 1997 so that they will be on the market by 1998. Ranbaxy, which already exports to 45 countries, has recently signed deals to export products to Egypt, Poland, South Africa and the UK, and is looking at Australia, he said.

While the Indian drug industry is growing at an annual rate of 15%-16%, Mr Singh said that his company is growing at a rate of 20% annually. Ranbaxy now has a 4% share of the domestic market.