Indian pharmaceutical company Ranbaxy saw its sales in Romania grow by 12.5 percent ​​in the first quarter of 2011, from USD 24 million in the first three months of last year, to USD 27 million, according to the company.

In the first quarter, Ranbaxy had sales of USD 74 million in Europe, 10 percent higher than between January-March last year. At a group level, consolidated net sales decreased by 12.4 percent from USD 541 million to USD 474 million, while the group's profit after tax fell three times during the analyzed period, from USD 209 million to USD 67 million.

Ranbaxy Laboratories, the largest drugmaker in India, took over Terapia Cluj-Napoca in Romania in March 2006 from Advent International investment fund, for USD 324 million. Japanese Pharmaceutical Group Daiichi Sankyo became the majority shareholder of Ranbaxy Laboratories after the acquisition of 64 percent of the shares, in early October 2008.

Irina Popescu, irina.popescu@romania-insider.com