EISAI AND NICHI-IKO ENTER INTO COLLABORATION AGREEMENT FOR GENERIC PHARMACEUTICAL BUSINESS IN CHINA
Eisai Co., Ltd. (Headquarters: Tokyo, CEO: Haruo Naito, “Eisai”) and Nichi-Iko Pharmaceutical (Headquarters: Toyama, President and CEO: Yuichi Tamura, “Nichi-Iko”) announced today that they have entered into a comprehensive collaboration agreement (hereinafter, “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 government’s 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 government’s 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 Eisai’s 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.
Due to this agreement, Eisai will address a broader range of medical needs in China by further strengthening its Chinese generic business since entering in 2015. Nichi-Iko aims to enter the Chinese market leveraging the Eisai’s business foundation in China, as part of the strategic imperatives, “Business Expansion” and “Global Operation” in the 8th Medium-term Management Plan “NEXUS∞“.
In March 2018, Eisai and Nichi-Iko has entered into a strategic alliance agreement for the generic pharmaceutical business in Japan. By developing the partnership between Eisai and Nichi-Iko in China, Eisai and Nichi-Iko will aim to expand the contribution to patients in China as well as attempt to expand and grow their businesses in China.
The impact of the agreement has no impact on the financial results for fiscal 2019 for either company.
Eisai Co., Ltd.
Public Relations Department
Nichi-Iko Pharmaceutical Co., Ltd.
<Notes to editors>
1. About Eisai Co., Ltd.
Eisai Co., Ltd. is a leading global research and development-based pharmaceutical company headquartered in Japan. We define our corporate mission as “giving first thought to patients and their families and to increasing the benefits health care provides,” which we call our human health care (hhc) philosophy. With approximately 10,000 employees working across our global network of R&D facilities, manufacturing sites and marketing subsidiaries, we strive to realize our hhc philosophy by delivering innovative products in various therapeutic areas with high unmet medical needs, including Neurology and Oncology.
As a global pharmaceutical company, our mission extends to patients around the world through our investment and participation in partnership-based initiatives to improve access to medicines in developing and emerging countries.
For more information about Eisai Co., Ltd., please visit https://www.eisai.com
- About Nichi-Iko Pharmaceutical Co., Ltd.
Since the establishment of Nichi-Iko Group in 1965, Nichi-Iko has steadily developed its business to contribute to people’s health and quality of life by manufacturing high-quality, cost-effective pharmaceuticals. We shall excel as the outstanding generic pharmaceutical company, making every effort to continue to serve and deliver our products needed by our patients and their families, pharmacists, doctors, distributors and other pharma companies around the world. In working to fulfil this mission, we seek to earn the trust and respect of all our stakeholders and to be the first choice for our customers.
More patient-friendly, more patient-choice, more high-quality. That is what we mean by Premium Quality. And Premium Quality underpins our commitment to evolve into a global comprehensive generic pharmaceutical company.
For more information about Nichi-Iko Pharmaceutical Co., Ltd., please visit https://www.nichiiko.co.jp/english/