Ranbaxy ends JV with Japanese firm
Mumbai: Pharma company Ranbaxy Laboratories
today said it has exited from Japan-based joint venture
company--Nihon Pharmaceutical Industry.
Ranbaxy sold its stake to Nippon Chemiphar for an
undisclosed amount after an agreement that allowed Nippon
Chemiphar (NC) to buy Ranbaxy`s entire stake in Nihon
Pharmaceutical Industry (NPI), Ranbaxy Labs said in a filing
to the Bombay Stock Exchange.
Both companies--Nippon Chemiphar and Ranbaxy Laboratories
--held equal shares in the joint venture. Following the
transaction, NPI would become a wholly-owned subsidiary of
Ranbaxy entered into an agreement with Nippon Chemiphar
to form a joint venture company -- Nihon Pharmaceutical
Industry, in September, 2002.
Nippon Chemiphar is a Japanese pharmaceutical company,
involved in developing, manufacturing and selling generics, in
addition to proprietary products.
Shares of Ranbaxy were trading at Rs 504.50 on the BSE,
down 0.51 per cent from its previous close.
Download the all new Zee News app for Android and iOS to stay up to date with latest headlines and news stories in Politics, Entertainment, Sports, Technology, Business and much more from India and around the world.
More from India
More from World
More from Sports
More from Entertaiment
- DNA: Heart-wrenching reality of Kashmiri pandits
- DNA: Bengaluru's Mount Carmel college students show country's ideology to Rahul Gandhi
- DNA: Aamir Khan clarifies his love towards nation but sticks to previous statement
- DNA: Exiled Kashmiri Pandits share their heart wrenching stories
- DNA: America standing against old nemesis Russia rather than ISIS
- Woman commits suicide after heated discussion with husband over Aamir Khan's intolerance remark
- Eat smart to slow down ageing and increase longevity!
- Intolerance issue: Those attacking me are only proving my point, says Aamir Khan – Read full statement
- Setback to Kejriwal-led AAP as MLA Akhilesh Tripathi arrested in riot case
- 10 interesting facts about Constitution which every Indian must know