Ranbaxy rejigs Terapia plant's operations

India's Ranbaxy has started reorganizing Terapia, the Romanian drugmaker it recently acquired for $324.0 million (Marketletter April 3). For this year, Ranbaxy has set an ambitious sales target of $100.0 million and a domestic market share of 6.2% for the company, the Economic Times of India said, quoting a section of the Bucharest, Romania, media.

The acquired firm itself has been renamed as Terapia Ranbaxy and is viewed by the Indian pharmaceutical giant as its spearhead into Europe. The Economic Times said Peter Burema has been appointed as the company's new chairman. Mr Burema is at present serving as president, Ranbaxy (Europe, Commonwealth of Independent States, Africa and Latin America). Terapia Ranbaxy will see four representatives from the parent company joining the new firm. The sales force will be expanded from 250 staff to 350. The Times quoted Ranbaxy's chief executive Malvinder Mohan Singh as saying that Terapia Ranbaxy would be transformed into the parent company's hub for European operations.

On Terapia's background, the Times said founded that, in 1921, the firm is the largest generic player in Romania. The company, with a 150-plus product portfolio and 2005 revenue of $80.0 million, is the number eight player in the overall Romanian pharmaceutical market.