Daiichi Sankyo Co. plans to venture into the generic drug market in Japan through a subsidiary in fiscal 2010 starting in April as the market is expected to expand on government support, industry sources said Friday.
The company intends to build on its acquisition of an Indian generic drugmaker in 2008, they said.
Generic drugs are priced lower as they are made of ingredients for which patent protection has expired. In a bid to save medical costs, the government plans to boost generic drugs' share of total drug consumption to 30 percent from 20 percent at present.
Pfizer Inc. of the United States has decided to launch a generic drug business in Japan. Other companies are expected to follow suit.