Friday October 30, 01:20 PM

Ranbaxy plans acquisitions in India - paper

MUMBAI (Reuters) - Ranbaxy Laboratories, India's top drug maker by sales, plans acquisitions in India as it turns aggressive in the country to consolidate its leadership, the Mint paper reported on Friday citing a top official.

"I think for a leading company it's very important to be a leader at home," CEO Atul Sobti was quoted as saying in the paper.

"So to that extent, resource-wise, marketing wise, manpower-wise, whatever it takes, we have taken a conscious decision to do that and part of that answer could be inorganic growth."

Ranbaxy, 64 percent owned by Japan's Daiichi Sankyo, need to scale up inputs, research and go to smaller towns, he said in the paper without elaborating on likely investments.

A Ranbaxy spokesman when asked by Reuters about acquisitions said he could not share more details.

(Reporting by Narayanan Somasundaram; Editing by Jarshad Kakkrakandy)

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