Sanofi-aventis, Nichi-Iko To Establish Generic JV In Japan

The new joint venture will be held at 51% by sanofi-aventis and at 49% by Nichi-Iko. In addition, sanofi-aventis is expected to acquire 1,524,500 shares of Nichi-Iko, to be issued through a third-party allocation, and as a result will hold 4.66% of Nichi-Iko.

According to Sanofi-aventis, as a first step, the joint venture will take over the marketing and distribution rights in Japan for the anti-insomnia agent Amoban (zopiclone) from Sanofi-aventis KK Amoban sales reached JPY5.1bn – or E43m. Nichi-Iko will ensure the promotion and distribution of Amoban through its large network of pharmacies, wholesalers and medical institutions.

Both companies continue to explore additional opportunities for the development of the joint venture in the generic market in Japan by combining Nichi-Iko’s in manufacturing, development, and distribution of generics in Japan and Sanofi-aventis’ resources and global portfolio of generics.

Olivier Charmeil, senior vice president of Asia Pacific and Japan at Sanofi-aventis, said: “We are extremely pleased to establish this joint venture with Nichi-Iko that will allow us to strengthen our leadership and develop a strong presence in the fast-growing generic market in Japan.”

Yuiichi Tamura, president and CEO of Nichi-Iko, said: “We are equally gratified to form this long-term partnership which will enable us to combine Nichi-Iko’s expertise in generic business in Japan and sanofi-aventis’ resources. This announcement will deliver a strong message of a new strategic alliance in the market, showing clearly our willingness to further expand the generic market in

Japan.”