ASKA Pharmaceutical, Actavis Group form joint venture in Japan

Actavis Group and ASKA Pharmaceutical say they have concluded a preliminary agreement concerning the establishment of a joint company called Actavis ASKA with a plan to enter the Japanese generic pharmaceutical market in April next year.

ASKA will hold 55% of shares in the joint venture and Actavis 45%.

Through the business alliance, ASKA will be able to enter the market with Actavis' product portfolio and have the possibility of exploring the export potential for its new products and value-added formulations via Actavis' global marketing channels.

Actavis will be able to enter the Japanese market and utilize its product portfolio with its new partner.