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.

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