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FUJIFILM Holdings Corp. And Dr.Reddy's Laboratories Ltd Call Off Joint Venture For Generic Drugs In Japan

Monday, 3 Jun 2013 02:10am EDT 

FUJIFILM Holdings Corp. And Dr.Reddy's Laboratories Ltd announced that they have decided to terminate the MoU to enter into an exclusive partnership in the generic drugs business for the Japanese market and to establish a joint venture in Japan. Though the Memorandum of Understanding for generic drugs has been canceled, both the companies will explore partnerships in other related areas. DRL and Fujifilm signed a MoU on July 28, 2011 and the duo 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 come to a mutual agreement to terminate the MoU. The two companies will continue to explore partnership/ alliance opportunities in other pharmaceutical businesses such as API (active pharmaceutical ingredient) development and manufacturing, contract research and development and marketing of super-generics. 

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