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DRL, Fujifilm End Generic Drugs JV

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Dr. Reddy's Laboratories and Japan's Fujifilm Corp have terminated their plan for a generic drugs joint venture in Japan, the companies said on Monday.
 
The two companies will continue to explore partnership and alliance opportunities in other areas such as active pharmaceutical ingredients and contract research and manufacturing, they said in a statement.
 
Fujifilm is re-aligning its long-term growth strategy for pharmaceuticals business, following which the decision was taken, it said. The companies had agreed to form the joint venture in July 2011. 
 
(Reuters)