Daiichi sets up firm to market Ranbaxy products in Japan

“Japan is clearly a focus area for us. Ranbaxy will have the opportunity to develop,manufacture and supply generic drugs to the country through DSECL,” Ranbaxy Managing Director and Chief Executive Officer Atul Sobti said on Tuesday.

The company also said it is looking at setting up a dedicated manufacturing unit for exporting drugs to Japan,which is the second largest pharmaceutical market globally,Sobti said.

He said the company is working on a facility in the Mohali SEZ,which could be used for manufacturing generic products for DSECL.

Market analysts had predicted that the synergy plan between the two companies could address issues such as accessing the Japanese market and leveraging Ranbaxy’s distribution network to launch its products in other markets.

The company added that its Batamandi facility at Paonta Sahib has got approval from Japanese health regulator PMDA.

Last year,both companies had entered into an pact under which Ranbaxy would market branded products from Daiichi Sankyo’s portfolio in the markets where the Japanese firm did not have a presence.

The Gurgaon-based company had launched Evista,a drug from Daiichi Sankyo’s portfolio used for treating osteoporosis,through its subsidiary in Romania.

In Mexico,Ranbaxy has set-up a new marketing division to focus on Daiichi Sankyo’s products.

Besides this,Ranbaxy has also introduced some of Daiichi Sankyo’s products in India.

Daiichi Sankyo acquired a majority stake in Ranbaxy Laboratories in 2008 for about Rs 22,000 crore.

Shares of Ranbaxy Laboratories today closed at Rs 458.25 on the BSE,up 0.88 per cent from the previous close.