Nihon Pharmaceutical Industry Ltd. (NPI), a Joint Venture between Ranbaxy Laboratories Limited (RLL), and Nippon Chemiphar Limited (NC), has launched its first co-developed product, Vogseal 0.2mg and 0.3mg tablets (Generic-Voglibose) in Japan. The product is used for the treatment of diabetes.
The product will be sold in Japan under the Ranbaxy/Nihon Pharmaceutical Industry Limited (NPI) label and will be marketed and actively promoted to doctors in hospitals as well as in clinics by the field forces of Nippon Chemiphar (NC) and Nihon Pharmaceutical Industry Limited. (NPI), said Ranbaxy in a release.
Commenting on the launch, Malvinder Mohan Singh, president Pharmaceuticals and executive director, Ranbaxy, said, "We are delighted to introduce our first product in Japan which is a reflection of our R&D strength and excellent cross functional teamwork. Together with our strategic partner, NC, we are committed to building our presence in this key market by providing quality generic alternatives."
Kazushiro Yamaguchi, President & CEO, Nippon Chemiphar, said, "Ranbaxy & Nippon Chemiphar share a mutually beneficial and strategic partnership in Japan and with the successful launch of Vogseal - the first product of our joint venture, we have indicated how closely and successfully the two companies are working together."
According to the company release, following the introduction of Vogseal in Japan, Ranbaxy achieves the distinction of being present in all the top 5 pharmaceutical markets of the world. Japan ranks as the second largest pharmaceutical market globally, with a market size of US$ 65 Billion.
Ranbaxy entered the Japanese market in the year 2002 through a strategic alliance with a mid sized research pharmaceutical company, Nippon Chemiphar Limited (NC) of Japan and has since, acquired an equity stake in its generic subsidiary Nihon Pharmaceutical Industry Limited (NPI).