India's largest pharmaceutical company, Ranbaxy Laboratories Ltd (Ranbaxy) announced that the company has completed 20 successful years in Russia. The Russian pharmaceutical market is estimated at around US $20 billion (IMS MAy 2013) growing at a CAGR of around 11%
On the successful completion of 20 years, Mr. HeArun Sawhney, CEO and MD, Ranbaxy said, "Ranbaxy was one of the first pharmaceutical companies from India to set up operations in Russia. We have been providing high quality, affordable generic medicines to the citizens of Russia for the last two decades, there by supporting the government to bring down healthcare costs. We remain committed to the Russian market and will continue to operate from the paradigm of quality and patients first."
With a well-established distribution network and skilled field force, ranbaxy today has operations in 56 regions in Russia and has built strong equity with its customers. The company has a portfolio of products covering anti-infective, cold, pain management, cardiovascular, diabetology, central nervous sysytem, urology and dermatology segments. So far, the company has registered 51 drugs in the Russian Federation commercialised 72 SKU's. Ranbaxy's leading brands in Russia includes Ketanov, Coldact, Faringosept, Cifran, Pylobact and Fenules. Last year, the company's popular brand, Faringosept was selected as the people's brand of choice.
Aman Khanna, Country Head of Russia, commented "Over the year Ranbaxy has established itself a preferred generic pharmaceutical company in Russia. In the coming years, we look at further expanding our product portfolio to include value added and innovator products from our parent company, Daiichi Sankyo. We are working closely in partnership with regional Governments in Line with the Russia Pharma, 2020 Healthcare Plan."
Earlier in 2011, Ranbaxy and the government of Yaroslavl signed a Memorandum of Understanding for cooperation in the field of healthcare and medical science, which was a major milestone. As part of the program, most clinical pharmacologists and senior medical students of Yaroslavl region have been trained in Pharmacovigilance.