Dr. Reddys Laboratories Ltd.

Dr Reddy's Laboratories, India’s second largest pharma company is likely to sign a definitive agreement with Japan-based Fujifilm by June 2012. This joint venture will develop and produce generic drugs for the Japanese market. It will take 2-3 years for the company to come out with products.

The company has to obtain product approvals from Japanese authorities before the launch. It had announced the partnership in July, 2011. As part of the JV agreement company is expected to set up a manufacturing facility. This JV will design products that fit the specific requirements of the Japanese market, aiming to deliver reliable, high quality generic drugs enabling the growth of generic drug market.

As per the agreement the new joint venture will have 51% stake owned by Fujifilm and 49% stake owned by Dr Reddy's. Making use of both Fujifilm's advanced quality control technologies and DRL's expertise in cost competitive production technologies for active pharmaceutical ingredients and formulations, the new company will develop, manufacture and promote competitive and high quality generic drugs.