RANBAXY AIMS FOR $150-M US BUSINESS BY 2002

Article Abstract:

Ranbaxy Laboratories has set a revenue target of $150 million in the US market by the year 2002. It has launched 13 products in the US with eight products pending approval. Recently, Ranbaxy unveiled its first new chemical entity, Rbx 2258, a molecule for the treatment of benign prostatic hyperplasia (BPH). Ranbaxy will go for an Investigational New Drug application in India by October and enter clinical trials in the first quarter of 1999. If the product reaches the market, it will compete with Boehringer Mannheim's temsulocin (Flomax) and finasteride. The world market for BPH product is estimated at $1.2 billion and the Indian market is Rs40 crore. (gsh)

Comment:

Sets revenue target of $150 mil in US market by year 2002

United States, Sales & consumption

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RANBAXY TO HOP ONTO BUYBACK BANDWAGON

Article Abstract:

Ranbaxy Laboratories has decided to take permission from its shareholders in order to buyback its own shares as and when the law permits. It can finance the buyback through its own free resources or by sources approved by the law. The company has decided to increase its Return on Capital Employment by one percent every year and take it up to 21-23 percent in the next 3- 5 years. (khr)

Comment:

Seeks permission from shareholders to buyback its own shares

Acquisitions & mergers

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RANBAXY WANTS INDIAN DRUGS OFF PRICE CONTROL

Article Abstract:

Ranbaxy Laboratories has asked the government of India to remove all Indian drugs from price control based on the condition that the drug is produced by about two producers. It has asked the government to put the imported bulk drugs and formulations under price control. Ranbaxy has also sought the exemption for a foreign patented product if it is produced in India by an Indian company. (ag)

Comment:

Asks govt of India to remove all Indian drugs from price control based on condition that drug is produced by about 2 makers

Public affairs

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