Ranbaxy to market Daiichi's products in Mexico

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New Delhi: Ranbaxy Laboratories Ltd is going to market products from the portfolio of Japanese pharma firm Daiichi Sankyo in Mexico. The Gurgaon-based drug firm would market the products through its Latin America-based subsidiary, Ranbaxy Mexico SA de CV Mexico. Daiichi Sankyo holds around 64% stake in Ranbaxy.

With an estimated population of 107 million people, Mexico is Latin America's second-biggest market after Brazil. "This is the first time that Daiichi Sankyo and Ranbaxy are leveraging mutual synergies generated through the hybrid business model in Latin America," Ranbaxy said in a statement.

"Our understanding of the Latin American markets and local presence pave the way for an efficient and immediate market entry for Daiichi Sankyo, while priming the channel for the launch of Ranbaxy specialty products in future," Ranbaxy CEO and MD Atul Sobti said.

Takashi Shoda, president and CEO of Daiichi Sankyo, said, "We are dedicated to realise various synergies through our hybrid business model, which enables both companies to fully realise their strengths".