Eisai Nichi-Iko explore generic pharma biz in China
Japan headquartered Eisai Co., Ltd. and Nichi-Iko Pharmaceutical have announced that they have entered into a comprehensive collaboration agreement for the generic pharmaceutical business in China.
The Chinese pharmaceutical market is the second largest market in the world after the United States, and the generic drugs account for more than 70% of its market in terms of value. Also, due to the rapid aging and the governmentís policies to promote the generic drug market, the continuous growth of generic drugs is predicted. Furthermore, in order to improve the quality of generic drugs, the Chinese government is establishing the stable supply system of high quality generic drugs equivalent to the original drugs, such as it introduces the generic quality consistency evaluation system and provides priority response to the governmentís centralized procurement system for the generic drugs which have passed its evaluation test.
Under this agreement, Eisai and Nichi-Iko aim to enhance their pharmaceutical businesses in China by introducing the high quality generic drugs which Nichi-Iko maintains the marketing approval in Japan. Eisai and Nichi-Iko specifically select the appropriate products for the Chinese market needs, and Eisaiís subsidiary in China sells the products after Nichi-Iko obtains the approval for import and sales in China. Eisai and Nichi-Iko will select the first two products in this fiscal year, and subsequently prepare to launch one to two products every year for the continuous launch from FY2024.