In new joint-venture (JV's), 51% stake will be owned by Fujifilm compared to 49% owned by Dr Reddy's.
The JV's first product will be launched in the next 3-4 years.
Shigetaka Komori, President and Chief Executive Officer of Fujifilm Corporation said, "With the execution of the memorandum of understanding with Dr Reddy's Laboratories, Fujifilm will have excellent capability in developing and manufacturing across active pharmaceutical ingredients (API) and formulations of generic drugs."
Commenting on the partnership, GV Prasad, Vice-Chairman and CEO of Dr. Reddy's said, "We are confident that Fujifilm's advanced R&D capabilities, quality systems and market know-how backed by Dr Reddy's cost competitive, high-quality generic drug development & manufacturing and experience as a major global generics player will help the joint venture establish a strong presence in the Japanese Pharmaceutical market."
The working of such joint-venture is always doubtful, considering the fact that Fujifilms expertise is not the pharma sector but at the technology end.