Ranbaxy Laboratories on Monday said it would market products from Daiichi Sankyo's portfolio in Mexico through its Latin America-based subsidiary, Ranbaxy Mexico SA de CV.
"This is the first time that Daiichi Sankyo and Ranbaxy are leveraging mutual synergies generated through the Hybrid Business Model in Latin America," the Gurgaon-based company said in a statement.
With an estimated population of 107 million people, Mexico is Latin America’s second biggest market after Brazil. The total pharmaceutical market in Mexico is valued at around USD 10.4 billion and is ranked as the 11th largest market globally.
"Our understanding of the Latin American markets and local presence pave the way for an efficient and immediate market entry for Daiichi Sankyo, while priming the channel for the launch of Ranbaxy specialty products in future," Ranbaxy CEO and Managing Director Atul Sobti said.
This hybrid model will enable the two companies to leverage their respective strengths in the dominant prescription segment through the newly created Division, while continuing expansion in the rapidly evolving Generics market, Sobti said.
The Japanese drug maker, Daiichi Sankyo, had acquired Gurgaon-based Ranbaxy Laboratories last year and currently has around 64 per cent stake in it.