Nippon Chemiphar to take full control of Japanese JV with Ranbaxy
India's largest drugmaker Ranbaxy Laboratories (which is 63.9%-owned by Japan's Daiichi Sankyo) and Nippon Chemiphar plan to dissolve their 50/50 joint venture, Nihon Pharmaceutical Industry, in Japan. This follows an agreement between the two companies that allows NC to purchase the entire shareholding of its partner. Following the transaction, NPI will become a wholly owned subsidiary of Nippon Chemiphar.
In recent years, the companies had discussed the evolving generic market scenario and the emerging opportunities, in Japan. It was amicably concluded, that it would be in the best interest of both companies to develop their generic businesses independently, for optimal value.
The existing generic products being manufactured and supplied from Ranbaxy's manufacturing plants, in India, will continue to be supplied to NC, for some time, to enable a smooth transition.
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