Ranbaxy exits Japanese venture

Ranbaxy Laboratories Ltd and Nippon Chemiphar (NC) has announced the dissolution of their joint venture Nihon Pharmaceutical Industry Co Ltd (NPI) in Japan. This follows an agreement between the two companies that allows NC to purchase the entire shareholding of its erstwhile partner. Both companies held equal shares in the venture.

Following the transaction, NPI will become a wholly owned subsidiary of Nippon Chemiphar. Ranbaxy sold seven generic products through the joint venture in Japan. While these products will continue to be sold through NPI, it may be transitioned to Daiichi Sankyo in the long term.