Cadila pulls out of operations in Japan
One of India’s largest pharmaceutical companies, Cadila Healthcare (also operating as Zydus Cadila), has announced it will cease business in Japan.
A stock exchange statement said: “The company has recently completed portfolio and strategy review of its business and has decided to exit from its business in Japan, which is through 100 % subsidiary company.”
Zydus bought Nippon Pharmaceuticals in 2007 to strengthen its base in the country. Shares of Cadila Healthcare fell 2.24% yesterday and closed at 819 rupees a share.
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