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Ahmedabad-based pharmaceutical major Cadila Healthcare (Zydus Cadila) has decided to exit from its business in Japan.
In a filing to the Bombay Stock Exchange (BSE) this afternoon the company informed that, "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 per cent subsidiary company."
The firm has operations spread across the US, Europe, Japan, Brazil, South Africa and 25 other emerging markets. Zydus had acquired Nippon Universal Pharmaceuticals Ltd in 2007 to strengthen its base in the country. The company could not be reached for a comment.
Cadila Healthcare's shares fell 2.24 per cent on BSE today and closed at Rs 819 a share.
