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INDIA
BUSINESS WORLD -
OCTOBER 2005
THE MONTH THAT WAS
RANBAXY UPS JAPAN
JV STAKE TO 50%
As part of its
expansion plans in Japan, Ranbaxy has increased the stake
in its JV with Nippon Chemiphar Co Ltd, Nihon Pharmaceutical
Industry Co, to 50% from 10%. The deal on the additional stake
acquisition was struck today.
Commenting on the development, Brian Tempest, CEO and MD of
Ranbaxy said, "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 $65 billion-in '02 through a strategic alliance with the
mid-sized research pharmaceutical company, Nippon Chemiphar
Co, and subsequently acquired a 10% equity stake in its generic
subsidiary Nihon Pharmaceutical Industry Co. 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
in Japan in July'05.
The Vogseal brand
of generic Voglibose tablets launched by the JV has already
emerged as a brand leader amid stiff generic competition.
Ranbaxy has now stepped up the momentum of its product filings
in Japan through the joint venture to capitalise on the emerging
opportunities in the Japanese generic space.
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