Daiichi Sankyo and Ranbaxy Laboratories today announced that Terapia S.A, a subsidiary of Ranbaxy (Q,N,C,F)* in Romania, will market the osteoporosis medication, Evista in Romania. This is the first time in Europe that Daiichi Sankyo and Ranbaxy  are leveraging synergies generated through the hybrid business model.

Takashi Shoda, president and chief executive officer (CEO) of Daiichi Sankyo, said, ``We are delighted to announce this latest of the many synergies we will realize through our cooperation with Ranbaxy. We continue to explore other collaborations with Ranbaxy that will help optimize our growth.``

Atul Sobti, chief executive officer (CEO) and managing director (MD) of Ranbaxy said, ``The launch of Evista by Terapia Ranbaxy in Romania marks our first international endeavor as a global partnership.``   

Shares of Ranbaxy Laboratories gained Rs 5.05, or 1.54%, to trade at Rs 332.65. The total volume of shares traded was 221,466 at the BSE (12.33 p.m., Tuesday).