Ranbaxy hikes Japanese JV stake to 50%

Ranbaxy Laboratories has increased its stake in Nihon Pharmaceutical Industry Company (NPI) from the present 10% to 50%. An agreement to this effect was signed today.

NPI is a joint venture between Ranbaxy and Nippon Chemiphar Company (NC).

"Ranbaxy increasing its shareholding in the JV reinforces the company's strong commitment to the Japanese market. The new structure recognises equal commitment of both partners, and their intent to grow the generics business in Japan in a collaborative manner," Brian Tempest, CEO and managing director of Ranbaxy, said.

Kazushiro Yamaguchi, president and CEO of NC, said: "The strengthening of its relationship with Ranbaxy was crucial for the business strategy of making the generic business a pillar of the company's business."

While NC will provide the regulatory know-how and  knowledge of the Japanese market, Ranbaxy will bring its generics product pipeline and understanding of the global generics business.