NPI, a joint venture between the company and Nippon Chemiphar Co., Japan from the present 10 per cent. With this enhancement, NPI will become a 50:50 JV between the two companies, a statement by Ranbaxy said in New Delhi. An agreement in this regard has been signed, it added.
"Ranbaxy's increase in the shareholding of the JV, reinforces the company's strong commitment to the Japanese market. The new structure recognises the equal commitment of both partners and their intent to grow the generics business in Japan, in a collaborative manner," Brian Tempest, CEO and managing director, Ranbaxy said.
Kazushiro Yamaguchi, president and CEO of NC said the strengthening of its relationship with Ranbaxy was crucial for its business strategy of making the generic business a pillar of the company's business.
"NC is one of the first companies to recognise the importance of generics and to make it a pillar of the company's business. NC intends to be a leading company in Japan's generics market," he said.
Under the partnership, while NC provides the regulatory know how and knowledge of the Japanese market, Ranbaxy will bring its generics product pipeline and understanding of the global generics business, the statement said.
Malvinder Mohan Singh, Ranbaxy president- pharmaceuticals and executive director said raising the company's stake in the JV was a "logical move" resulting from the increased comfort level and resolve to take the business to higher levels of performance by the partners.
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