Fujifilm, Dr. Reddy's call off joint venture for generic drugs in Japan
Healthcare company Fujifilm and India-based global pharmaceutical company Dr. Reddy's Laboratories have decided to terminate the Memorandum of Understanding (MoU) 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 in 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 agreed to terminate the MoU.
The two companies will explore partnership opportunities in other pharmaceutical businesses such as active pharmaceutical ingredient development and manufacturing, contract research and development and manufacturing, and the development and marketing of super-generics.
"We will be focusing more on priority fields such as new drugs in cancer field, more value-added super generic and bio-related business by using our core technologies: analysis technologies, original nanotechnology and high-reliability and high-quality manufacturing technologies,” said Takatoshi Ishikawa, director, corporate vice president and general manager of pharmaceutical products for Fujifilm.