Aska Of Japan, Actavis Of Iceland To Form Generics Venture

Executive Summary

Japan's Aska Pharmaceutical and Iceland's Actavis Group plan a joint venture next year to develop and market generic drugs. The deal, expected to take effect next April in Japan, would give Aska a 55 percent stake and Actavis the rest. Under the plan, Aska would draw on Actavis-produced raw materials to produce drugs in Japanese facilities, with expectations their first co-developed drugs would reach the market in 2010. Actavis has a pipeline of about 1,000 drugs, but the joint venture expects to produce only about seven a year. (Click here for more - a subscription may be required