After East Europe and Mexico, Daiichi Sankyo, which bought out Ranbaxy Labs Ltd last year, is all set to leverage the latter’s marketing and distribution strength in six countries of Africa. This is the third instance in the last four months where Ranbaxy is helping Daiichi create a presence and consolidate its position in new emerging markets.
Daiichi and Ranbaxy announced on Monday that Ranbaxy would launch Olmesartan Medoxomil, an anti-hypertensive originally discovered by Daiichi Sankyo, in six African countries that include Kenya, Mozambique, Nigeria, Tanzania, Uganda, and Zambia.
The companies will launch the products under the brand name Olvance soon. The same drug was launched in India earlier this year and is available in more than 50 countries worldwide.
Just two months back, the merged entity had said that Daiichi’s drug portfolio would be commercialised in Mexico through a newly-floated marketing division within Ranbaxy’s Mexican subsidiary, Ranbaxy Mexico SA de CV.
The company expects this hybrid model to capture the dominant prescription segment in the country.
With an estimated population of 107 million people, Mexico is Latin American region’s second largest market after Brazil, with annual pharma sales of about $10.4 billion. It is also the world’s eleventh largest pharma market.
Before that, in September, Daiichi and Ranbaxy said that Terapia SA, a subsidiary of Ranbaxy in Romania, would market the osteoporosis medication, Evista in Romania, East Europe. With a population of 22 million, Romania is Eastern Europe’s second biggest market after Poland. Annual turnover in the Romanian pharmaceutical market is around $2.5 billion and the market is estimated to be growing at around 20% a year, in local currency terms.
In 2006, Daiichi Sankyo acquired the marketing and distribution rights for Evista, an osteoporosis treatment, in six European countries from Eli Lilly and Company. Takashi Shoda, president, Daiichi Sankyo said, “This is the first time in Africa that Daiichi Sankyo and Ranbaxy are leveraging mutual synergies.”