BANGALORE: Ranbaxy Laboratories Limited, India has entered into an in-licensing agreement with J. B. Chemicals & Pharmaceuticals Limited (JBCPL), India. As per the arrangement, Ranbaxy will market JBCPL’s key herbal range brand, Doktor Mom, in the Romanian market.
The Doktor Mom herbal range includes the syrup, lozenges and rub variants for the cough and cold segment. While Ranbaxy will market these products in Romania, JBCPL will continue to manufacture them and will also provide promotional input for the brand, stated an official release.
Ranbaxy president, Pharmaceuticals, Malvinder Mohan Singh said, “We welcome the opportunity to join hands with JBCPL towards creating a productive relationship that will leverage each others capabilities. The agreement reinforces our strategy to utilize licensing opportunities to further our growth in the overseas markets.”
Doktor Mom is the brand leader amongst cough and cold segment in Russia, Ukraine and CIS countries. This is the first time JBCPL has out-licensed its Doktor Mom brand. Continued focus of JBCPL on consistent world class quality and effective marketing have helped Doktor Mom herbal brand to be voted as Europe’s Most Trusted Brand for the last five consecutive years by the Readers Digest Magazine on Brand Recall in Russia. More recently, Superbrands Russia Council has also voted Doktor Mom as Superbrand 2005 in Russia, the release added.
“We are excited about forming this partnership with a strong marketing company like Ranbaxy to help our objective of taking Doktor Mom to new markets. Ranbaxy has demonstrated its skill in effectively marketing pharmaceutical products in Romania through its strong sales force. This gives us an entry into the European markets with our biggest brand. Having a partner like Ranbaxy with a good understanding of the market in Romania should both accelerate and maximize our opportunities,” said J. B. Mody, the chairman of JBCPL.
Romania is one of the fastest growing markets for Ranbaxy in Europe. Some of the key Ranbaxy brands in this market include Zanocin (Ofloxacin), Simvor (Simvastatin) and Serlift (Sertraline), which are among the top selling brands.