Daiichi Sankyo to expand scope in Japan, setting up new generics unit with affiliate Ranbaxy

Japanese drug major Daiichi Sankyo and its 64%-owned Indian subsidiary Ranbaxy Laboratories plan to establish Daiichi Sankyo Espha on April 1, 2010, in Tokyo, which will market generic drugs, as well as Daiichi Sankyo's products which have gained a well-established reputation in the market.

'Daiichi Sankyo is dedicated to meeting the universal desire of patients to improve their health and better balance their lives,' said Takashi Shoda, president and chief executive of Daiichi Sankyo. 'We believe that our understanding of the Japanese market and local presence united with the global expertise of Ranbaxy in the generic arena will enable us to achieve efficient and immediate entry into the generic market,' he added.

Aiming for 40-50 billion yen generics sales