news 3/18/2010
Daiichi Sankyo said these days that it would enter Japan 's generic-drug market this year, targeting fast-growing demand as the government promotes greater use of generics to offset rising healthcare costs.
Facing ballooning medical costs as the population ages, the government has said it wants generic drugs to make up nearly one-third of the overall drug market in three years, prompting overseas firms like Pfizer to set their sights on Japan.
Israel 's Teva Pharmaceutical Industries the world 's No.1 generic drug maker, started marketing generics in Japan earlier this year through a joint venture, while Pfizer plans to enter the market as early as next year.Daiichi Sankyo, which bought a majority stake in Indian generic drug maker Ranbaxy Laboratories in 2008, said it would set up a fully owned subsidiary in Japan on April 1 to enter the market. Daiichi Sankyo, Japan 's third biggest drug maker, will aim for annual generic drug sales of about 50 billion yen ($560 million) by 2015, company spokesman Satoru Ogawa said.That goal is roughly half the yearly sales that Teva is targeting by the same year. Pfizer has not announced a sales target.
Daiichi Sankyo Espha Co Ltd, the new unit, will include Sanjeev Dani, Ranbaxy 's senior vice president in charge of Asia and other markets, on its board of directors, Daiichi Sankyo said in a statement.
Japanese think tank Fuji Keizai forecasts that sales of generic drugs in Japan will likely reach 448 billion yen next year, up an estimated 14 percent from this year.
Facing ballooning medical costs as the population ages, the government has said it wants generic drugs to make up nearly one-third of the overall drug market in three years, prompting overseas firms like Pfizer to set their sights on Japan.
Israel 's Teva Pharmaceutical Industries the world 's No.1 generic drug maker, started marketing generics in Japan earlier this year through a joint venture, while Pfizer plans to enter the market as early as next year.Daiichi Sankyo, which bought a majority stake in Indian generic drug maker Ranbaxy Laboratories in 2008, said it would set up a fully owned subsidiary in Japan on April 1 to enter the market. Daiichi Sankyo, Japan 's third biggest drug maker, will aim for annual generic drug sales of about 50 billion yen ($560 million) by 2015, company spokesman Satoru Ogawa said.That goal is roughly half the yearly sales that Teva is targeting by the same year. Pfizer has not announced a sales target.
Daiichi Sankyo Espha Co Ltd, the new unit, will include Sanjeev Dani, Ranbaxy 's senior vice president in charge of Asia and other markets, on its board of directors, Daiichi Sankyo said in a statement.
Japanese think tank Fuji Keizai forecasts that sales of generic drugs in Japan will likely reach 448 billion yen next year, up an estimated 14 percent from this year.
