Ranbaxy & Orchid announce strategic Business Alliance
Ranbaxy Laboratories Ltd has informed BSE that the Company and Orchid Chemicals & Pharmaceuticals Ltd (Orchid) on April 22, 2008 has announced that they have entered into a Business Alliance Agreement involving multiple geographies and therapies for both finished dosage formulations and active pharmaceutical ingredients. Additionally, this agreement would establish a framework for enhanced future co-operation between the two Companies.
Speaking on the development, Mr. Malvinder Mohan Singh, CEO & MD, Ranbaxy, said, “Orchid is a niche player in the global pharmaceutical industry with an impressive track record, particularly in sterile products. We are pleased to enter into this long term strategic alliance with Orchid. The agreement will be mutually beneficial and synergistic, allowing both organisations to leverage each others inherent strengths”.
Commenting on the alliance, Mr. K Raghavendra Rao, Managing Director, Orchid, said, “We are happy to join hands with Ranbaxy, India’s largest pharmaceutical Company. Ranbaxy’s global scale and market reach and Orchids state-of-the-art development and manufacturing capabilities would expand the business of both Companies. We believe that this will be a win-win arrangement for both Companies”.
Tags: Ranbaxy