In an all cash deal Ahemadabad based domestic pharma major Zydus Cadila has quired 100 per cent stake in Nippon Universal a generic drug manufacturing company based in Japan. The acquired company has a manufacturing plant near Tokyo and is focused on supplying generic products to hospital segment. According Pankaj Patel, CMD, Zydus Cadila, the company has paid close to $3 million (almost equivalent to annual sales revenue of Nippon Universal) for this acquisition. The acquisition will strengthen of Zydus Cadila’s position in the Japanese generic market. The company is hoping to touch $50 million sales target in Japan in next 3 years. It may be noted Zydus Cadila has also recently opened up a 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. Of late, India's pharmaceutical manufacturers are stepping up their efforts to expand business in Japan, 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.
Source : India Outsource Watch