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| Ranbaxy And Nippon Chemiphar Dissolve Their Joint Venture 'Nihon Pharmaceutical Industry Co.Ltd', In Japan | |||
| 12 Dec 2009
, Gurgaon, India
: Ranbaxy Laboratories Limited (Ranbaxy) and Nippon Chemiphar (NC) today announced the dissolution of their joint venture 'Nihon Pharmaceutical Industry Co. Ltd' (NPI), in Japan. This follows an agreement between the two companies that allows NC to purchase the entire shareholding of its erstwhile partner. Both companies held equal shares in the JV. Following the transaction, NPI will become a wholly owned subsidiary of Nippon Chemiphar. In recent years, the Companies had discussed the evolving generic market scenario and the emerging opportunities, in Japan. It was amicably concluded, that it would be in the best interest of both companies to develop their generic businesses independently, for optimal value. The existing generic products being manufactured and supplied from Ranbaxy's manufacturing plants, in India, will continue to be supplied to NC, for some time, to enable a smooth transition. Japan is the second largest Pharma market in the world and is gradually opening up to generic drugs. This provides ample opportunity for both companies to build and consolidate their presence in Japan. Nippon Chemiphar Co., Ltd., founded in 1950 (President and CEO, Kazushiro Yamaguchi; consolidated net sales, Ą22,307 million as of March 2009) is a medium-sized Japanese pharmaceutical company, headquartered in Tokyo. Since setting generics-related business as one of its pillars in 2000, Chemiphar has been developing, manufacturing and selling generics, in addition to proprietary products. Today, Chemiphar’s generics lineup and sales, compare most favorably with those of companies that sell both proprietary products and generics. Chemiphar is one of the few proprietary pharmaceutical makers developing in-house generics. Its goal is to develop more than 15 new generics per year. Ranbaxy Laboratories Limited, India's largest pharmaceutical company, is an integrated, research based, international pharmaceutical company producing a wide range of quality, affordable generic medicines, trusted by healthcare professionals and patients across geographies. Ranbaxy’s continued focus on R&D has resulted in several approvals in developed markets and significant progress in New Drug Discovery Research. The Company’s foray into Novel Drug Delivery Systems has led to proprietary "platform technologies," resulting in a number of products under development. The Company is serving its customers in over 125 countries and has an expanding international portfolio of affiliates, joint ventures and alliances, ground operations in 48 countries and manufacturing operations in 10 countries. |
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