Ranbaxy could sell Terapia's facilities in Bucharest

Indian-based Ranbaxy intends to sell Terapia’s oral liquid business in Bucharest, according to the Indian Economic Times. Ranbaxy has already been in talks with a number of global companies and the estimated value of this division stands at 15-20 million dollars, the same source reveals. Although Ranbaxy Laboratories has not initiated talks with any Indian companies, pharmaceutical experts believe a few domestic companies that intend to market oral drugs or syrups in Romania or Europe will look at the asset. The sale of the unit is not likely to have any impact on the Indian company’s sales in the region, says the Economic Times. The decision to sell this division is part of Ranbaxy’s strategy to expand the operations of the production facility in Cluj, while the production of liquid drugs is not part of Ranbaxy’s core business. The deal could be completed by the end of this quarter. However, Terapia Ranbaxy officials refused to comment on the speculations. Terapia bought its facilities in Bucharest, Pharmaplant and Promedic in 2005, when it was held by Advent International investment fund.