TOKYO (Reuters) - Fujifilm Holdings said on Thursday that it is close to reaching an agreement to form a joint venture with Dr. Reddy's Laboratories Ltd of India to develop generic drugs for the Japanese market.
A spokesman for Fujifilm Holdings did not provide further details on the planned alliance.
The Nikkei business daily reported earlier on Thursday that the new joint venture would be owned 51 percent by a unit of Fujifilm Holdings and 49 percent by Dr. Reddy's.
The venture will manufacture the drugs in India and test them for quality in Japan, the paper said. It will aim to launch drugs on the Japanese market in 2014, the paper said.
(Reporting by Mariko Katsumura; Editing by Nathan Layne)