Ranbaxy in South African JV for generic AIDS drug

The joint venture will sell the generic sonke in South Africa, Namibia and Botswana.

Ranbaxy Laboratories Ltd said on Monday that it had entered into a joint venture with a South African firm to sell the Indian drug maker's generic AIDS medicines in Africa.

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Ranbaxy will hold 70 per cent in the venture and Community Investment Holdings the remainder, the Indian firm said in a statement.

It did not give financial details.

The joint venture will sell the generic sonke in South Africa, Namibia and Botswana through government tenders, retail pharmacists, HIV/AIDS disease management companies, medical aids, non-governmental organisations and independent community treatment organisations.

Shares in Ranbaxy were 4.4 per cent higher at Rs 407 in a firm Mumbai market.