Daiichi Sankyo to enter generics business
Daiichi Sankyo Espha Co to market generic drugs in addition to own products.
Daiichi Sankyo and its strategic partner Ranbaxy Laboratories, which together make up the Daiichi Sankyo Group are to establish Daiichi Sankyo Espha Co to market generic drugs as well as Daiichi Sankyo's products.
Takashi Shoda, president and ceo of Daiichi Sankyo explained "We believe that our understanding of the Japanese market and local presence united with the global expertise of Ranbaxy in the generic arena will enable us to achieve efficient and immediate entry into the generic market".
Completing their strategic alliance in November 2008 to form the unique Hybrid Business Model, Daiichi Sankyo and Ranbaxy have been moving forward to fully leverage the Model. The expanded global reach enables leading market positions in both developed and emerging markets through the supply of innovative and established pharmaceuticals.
In addition to meeting unmet medical needs through the development and marketing of outstanding new drugs, the Group also operates an OTC business, and is accelerating its efforts to reinforce its vaccine business. The Group is also committed to providing patients with reliable generic pharmaceuticals through a strong network of Japanese and overseas companies. Leveraging Ranbaxy's strengths, Daiichi Sankyo Espha will expand its product pipeline and continuously realise stable supply.
Daiichi Sankyo Espha will operate with effect from 1 April 2010.
