Zydus scouts for partners in Land of Rising Sun
The company is in talks with 2-3 pharma companies and has earmarked an investment of about $25 million for its expansion plans in Japan.
By Khomba Singh, TNN |
NEW DELHI: AHMEDABAD-BASED domestic pharma major Zydus Cadilla, which recently got overseas drugmaker certification from Japan’s health ministry, is scouting for partners in the country. The company is in talks with 2-3 pharma companies and has earmarked an investment of about $25 million for its expansion plans in Japan.
Zydus Cadila CMD Pankaj Patel told ET, “Zydus Cadilla is looking for partnership with generic drug makers in Japan. Talks are progressing with 2-3 companies and we hope to finalise the deal before the end of the calendar year.”
He added that the company has not decided on any model and is open to both joint venture or picking up stake in a company. However, the company will invest about $25 million for its expansion plans by the end of the calendar year.
The Japanese government has approved Zydus Cadila as an overseas drug maker, which allows the company to export medicines manufactured in India to be sold in Japanese market.
Zydus also recently opened up its new subsidiary in Japan, Zydus Pharma Inc, Japan to kick start its operations in the $60 billion Japanese market. The subsidiary plans to market APIs and formulations in Japan and start product registration by the end of the year. The company plans to submit its first product for marketing approval soon and is likely to be followed by a series of generics drugs.
With regulatory changes being worked out to promote generic drugs in the country, the Japanese market has become even more attractive for Indian pharma companies. Zydus Cadila is targeting sales of $1 billion (Rs 4,500 crore) by 2010 from Rs 1,364 crore at the end of December 2006.
khomba.singh@timesgroup.com
Zydus Cadila CMD Pankaj Patel told ET, “Zydus Cadilla is looking for partnership with generic drug makers in Japan. Talks are progressing with 2-3 companies and we hope to finalise the deal before the end of the calendar year.”
He added that the company has not decided on any model and is open to both joint venture or picking up stake in a company. However, the company will invest about $25 million for its expansion plans by the end of the calendar year.
The Japanese government has approved Zydus Cadila as an overseas drug maker, which allows the company to export medicines manufactured in India to be sold in Japanese market.
Zydus also recently opened up its new subsidiary in Japan, Zydus Pharma Inc, Japan to kick start its operations in the $60 billion Japanese market. The subsidiary plans to market APIs and formulations in Japan and start product registration by the end of the year. The company plans to submit its first product for marketing approval soon and is likely to be followed by a series of generics drugs.
With regulatory changes being worked out to promote generic drugs in the country, the Japanese market has become even more attractive for Indian pharma companies. Zydus Cadila is targeting sales of $1 billion (Rs 4,500 crore) by 2010 from Rs 1,364 crore at the end of December 2006.
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Indian pharma companies are looking at having a stronger presence in the world’s second largest drug market. Lupin has partnered domestic pharma company Kyowa Pharmaceutical to market its generic drugs and is now exploring acquisition opportunities in the country. Ranbaxy also has partnered with a local pharma company, Nippon Chemiphar to market its generic drugs.khomba.singh@timesgroup.com
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