Terapia Ranbaxy general manager Dragos Damian expects the Romanian pharmaceutical market will stagnate in the second half of the year. In a worst-case scenario, Damian sees the local market falling about 2%.
The company’s plant in Cluj-Napoca produces 200 types of medicines. Terapia launched 15 new products last year and plans 12 more launches this year.
The company employed 850 people at the end of 2012 and plans to hire new staff this year.
According to market research company Cegedim Romania, Terapia Ranbaxy is ranked ninth on the local pharmaceutical market with a 3.7% market share.
“Terapia Ranbaxy is the only generic drug producer among the ten largest local pharmaceutical companies, which is a singular case in Central and Eastern Europe, where there are at least three generic drug producers among the top-ten medicine producers,” Damian said.
Ranbaxy Laboratories, the largest drug maker in India, bought 96.7% of Terapia Cluj-Napoca in March 2006 from investment fund Advent International for $324 million. In 2008, Japanese pharmaceutical group Daiichi Sankyo became the majority shareholder of Ranbaxy Laboratories.
According Cegedim Romania, the Romanian pharmaceutical market rose 3.5% in the first half of 2013 to EUR1.34 billion. The company expects the local medicine market will rise 0.7% this year.