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Is Fourth Indian Drugmaker To Exit Japanese Market
1/28/2014 8:02:45 AM
Cadila Healthcare Ltd on Monday said it has decided to close its Japanese subsidiary set up in 2006 to tap the world’s second-largest pharmaceutical market. “The company has recently completed portfolio and strategy review of its business and has decided to exit from its business in Japan, which is through a 100% subsidiary company,” Cadila Healthcare said in a statement to the stock exchanges on Monday, without specifying a reason. Cadila, also known as Zydus Cadila, set up Zydus Pharma Inc. in 2006 to tap Japan’s emerging market for copycat drugs.
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