Japanese pharmaceutical companies, Eisai and Nichi-Iko, have entered into a collaboration agreement to deliver generics to the Chinese market.
The Chinese pharmaceutical market is the second largest market in the world after the US, and the generic drugs account for more than 70% of its market in terms of value.
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.