Indian
generic drug maker hikes stake in Japan JV to 50%
12 November, 2005
Ranbaxy Laboratories Ltd, India’s
biggest drugmaker, hiked its stake in a Japanese joint
venture to 50% to expand sales in the world’s
second-largest pharmaceutical market. The company acquired
an additional 40% stake in Nihon Pharmaceutical Industry
Co, which was created three years ago by Nippon Chemiphar
Co and the Gurgaon, India-based company to make generic
drugs for erectile
dysfunction (ED) and various other ailments. Its
generic drug Caverta meant
for treating ED is very popular amongst its users.
Ranbaxy is trying to offset declining sales in the US
by expanding in Japan where the government encourages
the use of less-expensive copies of medicines whose
patents have expired to reduce medical costs as people
live longer. Generic drugs account for about 6% of the
$65 billion pharmaceutical market in Japan, which is
second in size to the US.
To read more visit:
http://www.financialexpress.com/fe_full_story.php?content_id=108385
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