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Razorguns
Well-known member
How do you think it would play out here if companies like thsi came aboard, and started offering cheaper drugs?
This is a first i've seen for Canada. Wonder if the US is next. Think the drug-pharmacetical lobbying powerhouse would allow it?
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http://www.cbc.ca/story/canada/national/2005/09/22/Ranbaxy_Canada20050922.html
India's largest drug company to enter Canadian market
Last Updated Thu, 22 Sep 2005 08:12:52 EDT
CBC News
India's largest drug company said Thursday that it will be entering the Canadian market. Ranbaxy Laboratories Ltd. will launch a subsidiary called Ranbaxy Pharmaceuticals Canada Inc. to sell and distribute "affordable medicines."
Malvinder Singh, president for pharmaceuticals and executive director of Ranbaxy Laboratories, said: "We are excited about the launch of our operations in Canada, the world's eighth-largest pharmaceutical market, and we anticipate making a meaningful contribution to the country's health care system. Our R&D efficiencies and globally integrated systems enable us to develop pharmaceuticals and bring them to market quickly and efficiently."
Singh predicted Canada's health care system would benefit from more competitive prices for medicines.
Ranbaxy, with global sales exceeding $1.1 billion US, has been conducting clinical trials in Canada for five years. It has received approvals to sell eight products in the country in the anti-infective, diabetes and cardiovascular fields.
The announcement came one day after Canadian Trade Minister Jim Peterson said Canada will spend $6.75 million during the next five years on collaborative research in India to boost joint research in biotechnology and nanotechnology.
This is a first i've seen for Canada. Wonder if the US is next. Think the drug-pharmacetical lobbying powerhouse would allow it?
---
http://www.cbc.ca/story/canada/national/2005/09/22/Ranbaxy_Canada20050922.html
India's largest drug company to enter Canadian market
Last Updated Thu, 22 Sep 2005 08:12:52 EDT
CBC News
India's largest drug company said Thursday that it will be entering the Canadian market. Ranbaxy Laboratories Ltd. will launch a subsidiary called Ranbaxy Pharmaceuticals Canada Inc. to sell and distribute "affordable medicines."
Malvinder Singh, president for pharmaceuticals and executive director of Ranbaxy Laboratories, said: "We are excited about the launch of our operations in Canada, the world's eighth-largest pharmaceutical market, and we anticipate making a meaningful contribution to the country's health care system. Our R&D efficiencies and globally integrated systems enable us to develop pharmaceuticals and bring them to market quickly and efficiently."
Singh predicted Canada's health care system would benefit from more competitive prices for medicines.
Ranbaxy, with global sales exceeding $1.1 billion US, has been conducting clinical trials in Canada for five years. It has received approvals to sell eight products in the country in the anti-infective, diabetes and cardiovascular fields.
The announcement came one day after Canadian Trade Minister Jim Peterson said Canada will spend $6.75 million during the next five years on collaborative research in India to boost joint research in biotechnology and nanotechnology.
