GURGAON, India Indian generic drug maker Ranbaxy Labs has dissolved its joint venture with Japan’s Nippon Chemiphar. The dissolution gives Nippon Chemiphar full ownership of the venture, Nihon Pharmaceutical Industry Co.
The two companies had decided that it would serve their respective interests to develop their generic businesses independently, though Ranbaxy will continue to manufacture generic drugs for Nippon Chemiphar at its plants in India.
Japan is the world’s second largest pharmaceutical market and has been gradually opening up to generic drugs. In October, Sandoz launched Japan’s first biosimilar, a follow-on of Pfizer’s human growth hormone Genotropin (somatropin) already marketed in the United States, the European Union and Australia under the name Omnitrope.