Ranbaxy's president and managing director-designate, DS Brar told The Financial Express that the company is looking for "more networking" in the domestic market but said he would not like to elaborate further. He did not disclose the names of the companies with which negotiations are on.

Brar said Ranbaxy would be setting up a 100 per cent owned subsidiary in Brazil. The subsidiary would act both as a holding company and manufacture and market high technology, R&D intensive products and drug delivery system products. Ranbaxy would also set up a joint venture in Brazil for generic products.

Brar said the joint venture partner in Brazil has been identified and business would commence in the next six months. Ranbaxy is eyeing branded business in the UK. "We are looking at acquisition of brands in the UK or launch our own brands", Brarsaid.

The China operations are also being expanded. Since local brands cannot be purchased under Chinese laws, Ranbaxy is looking at other options to expand its presence in other areas in China. It could be by way of buying equity in local Chinese companies.

Brar said the company would launch new products in the US market through the new drug application route.

On Ranbaxy's foray into France, Brar said it could take two to three years since the generic drugs market in France was not very conducive. Brar said the company's focus would remain at becoming a major player in the international market while consolidating its market presence within the country. Over 50 per cent of Ranbaxy's turnover comes from international business.

Ranbaxy had a turnover of Rs 1,064 crore during nine-month period ended December 1998 with a profit after tax of Rs 117 crore. Turnover during April December 1997 was lower at Rs 945.90 crore but profit after tax was higher at Rs 128.90 crore.

Ranbaxy had a turnover of $51million (including those from subsidiaries) from the Europe, CIS and African markets during April-December 1998. Ranbaxy Pharmaceuticals Inc of USA, a wholly-owned subsidiary, achieves sales of 415.37 million during the period.