Dr Reddy’s, Fuji Corp terminate Japan partnership deal
03 Jun 2013
Indian generic drug maker Dr Reddy's Laboratories and Japan's Fujifilm Corp have terminated their plan for a generic drugs joint venture in Japan, the companies said on Monday.
The two companies will continue to explore partnership and alliance opportunities in other areas such as active pharmaceutical ingredients and contract research & development and marketing of super-generics, the companies said in a statement from Hyderabad today.
Fujifilm is re-aligning its long-term growth strategy for pharmaceuticals business, following which the decision was taken, it said.
The memorandum of understanding for the partnership had been signed on 28 July 2011 and the two companies had conducted detailed studies on the establishment of a JV for developing and manufacturing generic drugs in Japan.
G V Prasad, chairman and chief executive of Dr Reddy's, "reinforced" the company's commitment to a planned entry into Japan.
