Ranbaxy eyes more buys
Ranbaxy Laboratories Ltd. is eager to expand aggressively and expects business in Romania, where it bought a firm this year, to be a key driver of profit growth next year, its top official said on Friday.
"We are a very growth-hungry company and we always endeavour to grow more and more, organically and inorganically," Chief Executive Malvinder Singh told Reuters in a telephone interview after announcing the $70 million acquisition of South Africa’s Be-Tabs Pharmaceuticals.
Ranbaxy, which has been on an acquisition spree this year, paid $324 million for Romania’s Terapia in March. Singh said business in the country was doing ‘exceedingly well’.
"I see Romania as a very strong growth driver in the profits for 2007. Romania is a very good story for us."
Singh said its business in the key US market would continue to grow despite tough competition.
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