Dr Reddy’s Labs may seal pact with Fujifilm Japanese JV by June

Dr Reddy’s Labs may seal pact with Fujifilm for Japanese JV by June

11:26 AM, 12th April 2012
Dr Reddy’s Labs may seal pact with Fujifilm for Japanese JV by June

HYDERABAD, INDIA: Dr Reddy’s Laboratories, the country second largest pharma company, expects to sign a definitive agreement by June with Japan-based Fujifilm for a joint venture (JV) that will develop and produce generic drugs for the Japanese market. “A definitive agreement is expected to be signed by June. After that it will take 2-3 years before we come out with products. We will have to get product approvals form Japanese authorities before the launch,” said Umang Vohra, Chief Financial Officer, Dr Reddy’s Laboratories (DRL).

DRL had announced the partnership in July, 2011. The new joint venture is said to have 51 per cent stake owned by Fujifilm and 49 per cent stake owned by Dr Reddy’s. The company may set up a manufacturing facility there as part of the JV agreement. “We cannot share the finer details as of now. If required we will set up a facility. It depends on the terms of the agreement,” said Vohra.

According to IMS data, Japan is the world’s second largest pharmaceutical market, estimated to be $97 billion. Low penetration with only about 23 per cent of Japanese prescription drug sales (by volume) contributed by generics as compared to 70 per cent by volume in the US. The Japanese government is actively promoting use of generics to alleviate patients’ expense and reduce national medical expenditure under the goal of “Increasing the market share of generic drugs by sales volume to at least 30 per cent by 2012,” Fujifilm had said when it signed the MoU with DRL.

© PTI News

0 Comments

Login

Your Comments (Up to 2000 characters)
Please respect our community and the integrity of its participants. WOC reserves the right to moderate and approve your comment.

Related News


HPCL-Mittal Energy JV commissions $4 billion Bathinda refinery

NEW DELHI, INDIA: HPCL-Mittal Energy (HMEL), a joint venture of state-owned Hindustan Petroleum Corporation and steel czar Lakshmi Mittal, recently an ...

Read more
Chemetall opens new surface treatment plant in India

CHENNAI, INDIA: Chemetall, the global metal surface treatment company, has invested in a new production plant in Chennai, India. The new facility will ...

Read more
Cytec to acquire Umeco for $439 million

WOODLAND PARK, US: Cytec Industries has firm intention to acquire all of the outstanding shares of Umeco plc, an international provider of advanced co ...

Read more
ONGC, ConocoPhillips tie up for shale gas exploration

MUMBAI, INDIA: Oil and Natural Gas Corporation (ONGC) Limited, India and ConocoPhillips, US, have signed a Memorandum of Understanding (MoU) for coope ...

Read more
Ranbaxy starts Atorvastatin calcium tablets export to US

GURGAON, INDIA: Ranbaxy Laboratories has commenced exports of Atorvastatin calcium oral tablets to the US market, from its Mohali SEZ manufacturing fa ...

Read more
BASF to build new chemical facility in India, for €150 million

MUMBAI, INDIA: BASF India Limited will invest €150 million to set up a new chemical production site at the Dahej Petroleum, Chemicals and Petroch ...

Read more