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Company : Ranbaxy Laboratories Limited 
Monday, October 27, 2003 4:48PM IST (11:18AM GMT)
 
(NSE:RANBAXY)
Ranbaxy Joins Hands with Clinton Foundation on Drugs for HIV/AIDS
New Delhi, Delhi, India

Ranbaxy Laboratories Limited (Ranbaxy), announced the signing of an agreement with The William Jefferson Clinton Foundation that will lead to a significant reduction in the price of HIV/AIDS drugs. This initiative will bring Anti Retroviral drugs (ARVs), now regarded as life-saving and essential drugs in many countries, within easy access to millions of people suffering from HIV and AIDS in developing countries.

The agreement covers countries in Africa and the Caribbean regions like, South Africa, Mozambique, Rwanda, Tanzania, Haiti, The Bahamas, Dominican Republic, and The Organization of Eastern Caribbean States. Around 1.5 to 2.0 million patients are estimated to benefit from this programme by 2008.

Presently, the agreement covers fixed dose combination of Triviro-LNS Lamivudine+Stavudine+ Nevirapine), Aviro-LZN (Lamivudine+Zidovudine+Nevirapine), Coviro (Lamivudine+ Stavudine), and Efavirenz. These drugs are already available in several countries.

Price reductions achieved through this landmark deal are due to consolidation and predictability of demand that has been facilitated by the Clinton Foundation. As a result, all those in the value chain were able to pass on benefits of economies of scale to the Clinton project. For instance, under the Clinton Foundation agreement, the price of one of the commonly used triple drug therapy combination will be substantially reduced, available for less than $140 per person per year. That translates into a cost of just 36-to-38 cents per person per day. This used to be around 80 cents per person per day earlier. Overall, the Clinton Foundation agreement will be reducing the cost of ARVs by one-third to one-half in the countries covered in the agreement.

The Clinton Foundation and Ranbaxy have been working towards this agreement for the past several months, focusing on ways to reduce costs and scale up production of the "triple drug cocktails," which can substantially extend the lives of people suffering from AIDS and also help prevent mother-to-child transmission of HIV.

Commenting on the development, Mr. D.S Brar, CEO & MD, Ranbaxy Laboratories Limited,said " We are priveliged to join hands with the Clinton Foundation and glad to have been given the opportunity to serve this largely neglected segment. This is yet another step by Ranbaxy towards its social responsibilities " .

Ranbaxy entered the anti-HIV segment just over two years back. Ranbaxy today has one of the most extensive anti-HIV portfolio comprising, Anti Retroviral drugs with maximum number of WHO approved products for HIV/AIDS. The Company has over 150 registrations of ARVs already across 57 countries with over 100 in the pipeline.

Earlier this year Ranbaxy entered into an agreement with 'Medicines for Malaria Venture ' (MMV), Geneva, for the development of Anti-Malarial Drug to provide better health care options in this vastly ignored segment.

Ranbaxy Laboratories Limited, India's largest pharmaceutical company, manufactures and markets branded generic pharmaceuticals and Active Pharmaceutical Ingredients. Ranbaxy's continued focus on R&D has resulted in several approvals in developed markets and significant progress in New Drug Discovery Research. Ranbaxy's foray into Novel Drug Delivery Systems has led to proprietary "platform technologies" resulting in a number of products under development. The Company is selling its products in over 70 countries and has an expanding international portfolio of affiliates, joint ventures and alliances, ground operations in 25 countries and manufacturing operations in 7 countries

 
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