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 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
