The Hindu Business Line : Ranbaxy to pick up 10% stake in Japanese co

RANBAXY Laboratories Ltd (RLL) has officially forayed into Japan, touted to be the second largest global pharma market after the US. The Indian pharma major today announced a business tie-up with Tokyo-based Nippon Chemiphar Co Ltd (NC) and its subsidiary Nihon Pharmaceutical Industry Co Ltd (NPI).

Meanwhile, RLL through its wholly owned subsidiary Ranbaxy (Netherlands) B.V. (RNBV) will also pick up 10 per cent equity stake in NPI, according to a company communiqué here today. The business alliance targets the $50-billion (JPY 600 billion) pharmaceuticals market in Japan. Earlier, Ranbaxy had a minimal presence in this Asian market.

The RLL-NC and NPI alliance would together launch Ranbaxy's ethical and drug delivery system based products, besides generics. Having marked its footprints in the US market, RLL has been steadily enhancing its presence in other global markets and the recent acquisition would provide Ranbaxy the platform to understand the Japanese regulatory framework and market environment.

NC and its subsidiary have a presence in the Japanese market in the ethical and branded generic pharma business. Its strengths are the central nervous system, cardiovascular and gastro intestinal segments. While NC, the parent company is engaged in active R&D, manufacture and sale of ethical drugs, NPI focuses on generic drugs business under support from its parent, the note said.

NC group businesses include pharmaceutical, diagnostic, hospital service, healthcare business and its subsidiary NPI had reported sales of JPY 1.58 billion ($13 million) for the year 2001.

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