Ranbaxy has opened a new unit in Morocco, making it the third on the continent and giving it direct access to a $1 billion pharmaceuticals market. According to Reuter’s report, Ranbaxy’s Africa sales rose 23% to $189 million in 2011.

The drugmaker, majority owned by Japan’s Daiichi Sankyo, has sales staff of about 1,000 in 44 African countries and makes drugs in Nigeria and South Africa.

The new unit will help the company, which is India’s top drugmaker by sales, supply products to other North African countries in future.

“The African market is not saturated and hence, generic drugmakers have good business opportunity there,” said a Mumbai-based analyst.

Source: Reuters