Hyderabad: Pharmaceutical major Dr Reddy's Laboratories today said it has plans to enter Japanese market through partnerships for specific products.
G V Prasad, Co-chairman and CEO, also said the company may launch its first biosimilar drug in 2018.
"Japan is certainly on our target. We are developing products for Japan. But we will enter into this market through a partner. We don't intend to do direct presence there. We are looking at product specific partnerships there," Prasad said at a press conference after announcing the Q4 results here.
The Indian drug maker and Fujifilm Corporation of Japan had earlier entered into an MoU for an exclusive partnership in the generic drugs business for the Japanese market and to establish a joint venture in the island nation.
However, it became non-starter for the reasons which were not disclosed.
Replying to query, Prasad said the company has fulfilled all the requirements pointed during an inspection by the officials of the US Food and Drug Administration at its Srikakulam Plant.
"After the inspection (last year), we have responded to them. We have sent two updates. We believe in compliance with them. But we don't have any indication from them on the next step would be. Perhaps they may re-inspect (the Srikakulam plant) or take some other remedy. I am not sure. But from our side, we have completed most of the actions that we have committed," he said.
On the launch of Biosimilar drugs, he said they are working through Marc for the near term for the regulated markets and the products are in the clinic.
"We expect around 2018 or so, we may launch the first biosimilar at the regulated markets though our partner," he said.
On new acquisitions, he said the company constantly looks at new acquisitions or merger of "mid-sized" organisations.
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