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Business
Ranbaxy Selling Noncore Units
Divestments are part of push into R&D-based pharma
by Jean-François Tremblay
September 8, 2005
India’s Ranbaxy Laboratories will sell businesses in animal health, fine chemicals, and diagnostics to ICICI Venture Funds Private, an Indian private equity investor.
Clinical diagnostics supplier Dade Behring Holdings, meanwhile, will acquire India’s Dade Behring, a Ranbaxy unit that has been distributing Dade Behring’s products and services in India. Ranbaxy expects to complete the deals by the end of the year.
In the Ranbaxy’s latest fiscal year, the businesses involved accounted for about 2.5% of its $1.3 billion in sales, a spokesman says. Ranbaxy CEO Brian W. Tempest says the sales are in line with the firm’s goal of becoming a research-based international pharmaceutical company.
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