Ranbaxy now Makes $100 Million Annually
Africa has been a hushed moneymaker for India’s major drug manufacturing company Ranbaxy making around $100 million annually.
Now the company plans to invest up more funds in infrastructure and will establish a novel manufacturing plant in the continent.
At present, the company’s income from the continent amount to 7% of the company’s worldwide income. But returns from the county is cross-filing double-digit development.
Malvinder Singh, Ranbaxy CEO and MD told, “Our investments in the region are giving good returns. The company plans to invest more in infrastructure and business and will set up a manufacturing unit in the region. Africa will be an important market for us the next 15-20 years.”
However, he didn’t identify inside information regarding the Africa’s investment as well as growth plans.
Right now, the company has two construction facilities in Nigeria and South Africa that supplies to the whole continent. It had recently adopted Be-Tabs for $70 million.
Ranbaxy executive director Ramesh Adige stated, “Today, Ranbaxy promotes its products in about 45 countries in the African continent with South Africa and Nigeria being the two biggest markets in this region.”
The arrival of Ranbaxy and generic drugs has led to lowering medicine costs in the continent. Whereas, other Indian pharmaceuticals as Cipla and Hetero drugs strong in the ARV drugs segment also accept outstanding presence in the continent.
At the moment, the Ranbaxy’s major focus is on anti infectives, ARVs, nutritional supplements, cardiovascular drugs, gastro intestinal products and nervous system products.
Ranbaxy’s other key markets in Africa are Kenya, Tanzania, Uganda, Zimbabwe, Zambia, Morocco and Cameroon.