Teva in generics JV with Japan's Kowa
Israeli drugs giant Teva Pharmaceutical Industries and Japanese mid-sized drugmaker Kowa Co have signed a definitive agreement to establish a generic pharmaceutical company in Japan. This is a further expansionary move for Teva, which is in the process of acquiring US copy-drug group Barr (Marketletters passim).
The joint venture to be called, Teva-Kowa Pharma, will seek to leverage the marketing, R&D, manufacturing and distribution capabilities of each company to become a broad based supplier of high quality generic pharmaceutical products for the Japanese market and reach sales of $1.0 billion in 2015. Both partners will have a 50% stake in Teva-Kowa Pharma, which will become operational in 2009.
Japan generics sector valued at $4.6B
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