Hyderabad : Drug firm Dr Reddy’s Laboratories (DRL) and Fujifilm Corporation said they have decided to terminate a pact to establish a joint venture and an exclusive partnership for generic drugs business in the Japanese market, reports PTI.

The move followed Fujifilm’s realignment of its long-term growth strategy for the pharmaceutical business even as Dr Reddy’s maintained that its plans to enter the Japanese market remained intact despite the development.

“…as Fujifilm realigns its long-term growth strategy for the pharmaceutical business, both companies have led to a mutual agreement to terminate the MoU,” DRL said. The two companies will continue to explore partnership/ alliance opportunities in other pharmaceutical businesses such as API (active pharmaceutical ingredient) development and manufacturing, contract research and development and marketing of super-generics, the release added.

(For all the latest News, Mumbai, Entertainment, Cricket, Business and Featured News updates, visit Free Press Journal. Also, follow us on Twitter and Instagram and do like our Facebook page for continuous updates on the go)

Free Press Journal

www.freepressjournal.in