Fujifilm and Dr Reddy's abandon plans for generics JV in Japan

Japan’s Fujifilm Corp and Indian drugmaker Dr Reddy's Laboratories (NYSE: RDY) have decided to terminate the Memorandum of Understanding to enter into an exclusive partnership in the generic drugs business for the Japanese market and to establish a joint venture in Japan.

Based on the MoU signed on July 28, 2011, the two companies had conducted detailed studies on the establishment of a joint venture for developing and manufacturing generic drugs in Japan. However, as Fujifilm realigns its long-term growth strategy for the pharmaceutical business, both companies have led to a mutual agreement to terminate the MoU.

Will continue to explore other joint opportunities

The two companies will continue to explore partnership/alliance opportunities in other pharmaceutical businesses such as API (active pharmaceutical ingredient) development and manufacturing, contract research and development and manufacturing, and the development and marketing of super-generics.