India's Dr Reddy's seeks partners to enter Japan's generics sector; posts weak 1st-qtr results

Dr Reddy's Laboratories, India's number two drug company, is planning to enter the Japanese generic drugs market and is looking for partners, to explore the $80-billion generic drug market in Japan, reports the Indian newspaper Financial Express.

Quoting GV Prasad, vice chairman and chief executive of Dr Reddy's Laboratories, the newspaper said the Indian firm 'is in the process of identifying partners in the generic segment in Japan, which is a tough market.'' The company has short-listed three players and is expected to sign an agreement by the year end. Analysts say global companies are now increasingly establishing a presence in Japan for both R&D and marketing.

Currently, two Indian drug companies - Ranbaxy Laboratories (through Daiichi Sankyo, which owns 64% of the firm) and Lupin (via its partner Kyowa) - are tapping the generic drug opportunities in Japan.