Indian company moves in on US dermatology brands

By staff writer

- Last updated on GMT

Related tags: Brands, Value added, Us

Ranbaxy Laboratories Inc, the US subsidiary of Indian-owned Ranbaxy
Laboratories, has acquired the US rights to 13 dermatology brands
from Bristol-Myers Squibb, in a move that aims to develop the
company's inorganic growth in the United States.

The move taps into brands that cover the dermatitis, psoriasis, fungal infections, and most importantly an acne brand, all of which have been available on the US market for ten years and more. The company says it is particularly focused on the newly acquired acne brand because it already owns the branding rights to Sotret Capsules, a prescription drug used to treat acne and currently the largest selling product amongst the Isotretinoin family. Neither company has yet revealed the brands involved in the transaction or the exact terms. In focusing on the dermatology market Ranbaxy is targeting a branch of the skin care market that is currently experiencing market-leading growth. Currently, industry experts believe that the market is valued at $10bn and experiencing annual growth of 10 per cent. This compares to annual growth in the US personal care market of approximately 2 per cent, reflecting the highly developed nature of the market and the strength of the competition. Venkat Krishnan, vice president of Ranbaxy's North American operations, said that the acquisition of the brands would help to strengthen the company's franchise in the US dermatology arena. "It enables Ranbaxy to establish an immediate presence in the high value segments,"​ he said, adding that the brands were expected to have significant synergy, helping to create a dermatology business with a reliable revenue. The company added that the brands would be sold in the US market under the Ranbaxy name and stated that it plans to significantly develop the revenue income from all 13 brands through active promotion. "This business opportunity also creates a broader platform for the introduction of value added line extensions and additional brands as our involvement and commitment to dermatology expands. It underscores our strategy of pursuing inorganic growth opportunities to complement internal growth,"​ added Krishnan. New York-based Bristol-Myters Squibb markets a number of topical dermatology products, including Ultravate cream and ointment, a corticosteroid, and Westcort hydrocortisone cream and ointment, both for dermatoses-related outbreaks.

Related topics: Business & Financial, Skin Care

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