Ranbaxy to acquire Aventis drug unit

Ranbaxy to acquire Aventis drug unit

NEW DELHI: India's largest drug company, Ranbaxy Laboratories, is
to acquire part of the Franco-German pharmaceutical group
Aventis' generic drugs business in France for an undisclosed
amount, Indian and French sources said Sunday.

Ranbaxy has already signed the agreement, which would boost
its expansion plans in Europe, a statement from the New Delhi-
based Ranbaxy said.

"The sale is subject to the legal process of consultation with
employee representatives. The transaction is expected to be
completed in the first quarter of 2004, subject to requisite
approvals," the statement said.

Negotiations for the acquisition started six months ago.

RPG Aventis -- which Ranbaxy is acquiring -- is the generic
business of Aventis and was ranked fifth in the French generic
market with sales of 44 million euros for the year ended December
2002, the statement said. -- AFP