Japanese group Fujifilm and India’s Dr Reddy’s have decided to break off plans to form an exclusive partnership to develop generic drugs for the Japanese market and establish a joint venture in the country.
The companies signed a memorandum of understanding firming up their plans for the JV back in July 2011, but following the realignment of Fujifilm’s long-term growth strategy for its pharmaceutical business, both companies have “led to a mutual agreement to terminate the MoU”.
”In the long-term 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,” explained Takatoshi Ishikawa, Director Corporate Vice President and General Manager of Pharmaceutical Products Division at Fujifilm.
The groups, however, are still exploring potential 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, they stressed.
