Ranbaxy buys new European manufacturing hub

Continuing its invasion of the European market, Ranbaxy has agreed to buy Romania's Terapia for $324 million. Terapia is Romania's largest generic drug maker. Ranbaxy plans to designate Terapia as its central manufacturing operation in Europe once the deal is complete. Ranbaxy's expansionist program has been driven by falling margins in the U.S., where the pressure on generic drug prices is intense.

- read the report from Rediff