Eli Lilly And Ranbaxy Form Alliance
US company Eli Lilly and the Indian pharmaceutical company Ranbaxy are setting up two joint ventures, one in India and one in the USA.
The Indian joint venture will focus on research, development and manufacturing of generic products, extension of current products and new product development. And in the USA, the jv will market products resulting from the Indian unit and certain Ranbaxy and Lilly products. It is also understood that the Indian venture will help Lilly reduce R&D costs.
Ranbaxy has the second-highest share in its domestic market and distributes its products in more than 50 countries worldwide. Almost 40% of Ranbaxy's revenues are generated overseas. Eli Lily and Ranbaxy first set up a company in 1992 in New Delhi to market Lilly products.
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