Ranbaxy Laboratories Limited (RLL) is lining up to launch its next product in Japan by July 2007, envisaging a strong hold in the world's second largest pharmaceutical market.
The new product will be launched under Nihon Pharmaceutical Industry Ltd (NPI), the company's existing joint venture with Nippon Chemiphar Ltd (NC), Japan. The company is planning to introduce at least one product a year in Japan under the JV, according to Dr Brian W Tempest, chief mentor and executive vice chairman of the board, Ranbaxy Laboratories Limited.
"We have plans to launch our products in Japan on a regular basis. But there are various complexities in launching a product in the country. The regulatory process in Japan are very stringent and time consuming," Tempest told Pharmabiz. However, he refused to reveal details of the product, which is under consideration for the immediate launch by mid 2007.
Ranbaxy entered the Japanese market in the year 2002 through a strategic alliance with Nippon Chemiphar Limited (NC), a mid sized research-oriented pharmaceutical company of Japan, and has launched its first co-developed product, Vogseal 0.2mg and 0.3mg tablets (generic-voglibose) for the treatment of diabetes, in July 2005.
The company has launched clarithromycin 50mg, 200mg antibiotic tablets and terbinafine 125mg anti fungal tablets in Japan in July 2006. Moving forward, the Joint Venture plans to increase the momentum of its product filings, to capitalize on the emerging opportunities in the Japanese generic space, according to company sources.
In order to capitalize on the emerging opportunities in the Japanese generic space, the company has acquired a 10 per cent equity stake in Nippon's generic subsidiary NPI and later raised its equity stake to 50 per cent. The NPI became a 50:50 Joint Venture between Ranbaxy and NC with this agreement in November 2005.