|
 |
| 1-4
September, 2006 Pragati Maidan, New Delhi, India |
 |
|
|
Ranbaxy goes long on Japan, hikes stake in JV to 50%
As part of its expansion plans in Japan, Ranbaxy has increased the stake in its JV with Nippon Chemiphar, Nihon Pharmaceutical Industry to 50% from the existing 10%. The deal on the additional stake acquisition was struck today.
Commenting on the development, Brian Tempest, CEO and MD of Ranbaxy said to a leading newspaper , “the company’s increase in the shareholding of the JV, reinforces its strong commitment to the Japanese market. Further, the new structure recognises the equal commitment of both partners and their intent to grow the generics business in Japan, in a collaborative manner.”
Ranbaxy entered the Japanese market the world’s second-largest pharma market at $65bn in ‘02 through a strategic alliance with the mid-sized research pharmaceutical company, Nippon Chemiphar and subsequently acquired a 10% equity stake in its generic subsidiary Nihon Pharmaceutical Industry.
In the last three years, the techno-commercial teams of Ranbaxy, NPI & NC have worked closely, leading to the successful launch of their first co-developed product, Vogseal 0.2mg and 0.3mg tablets (Generic Voglibose, used for the treatment of diabetes) in Japan in July ‘05.
The Vogseal brand of generic Voglibose tablets launched by the JV, has already emerged as a brand leader amidst stiff generic competition. Ranbaxy has now stepped up the momentum of its product filings in Japan through the joint venture (NPI), to capitalise on the emerging opportunities in the Japanese generics space.
Malvinder Singh, president and ED of Ranbaxy, said, Ranbaxy’s decision to increase its stake in the Japanese JV follows the increased comfort level of both partners and their resolve to take the business to higher levels of performance.
Kazushiro Yamaguchi, president and CEO of NC said NC intends to be a leading company in Japan’s generics market.
Both partners play a complementary role: NC provides the regulatory know how and in-depth knowledge of the Japanese market, while Ranbaxy brings to the table, its diversified and rich generics product pipeline along with its astute understanding of the global generics business.
Date: 22-Nov-2005
Back
|
|
 |
|
|
|
 |
