Japan, November 18, 2008 - Astellas Pharma Inc. (“Astellas”; headquarters: Tokyo; President and CEO: Masafumi Nogimori) announced that it has established its subsidiary, Astellas Pharma India Private Limited in Mumbai, India on November 14, 2008 (local time).
Astellas Pharma India Private Limited aims at an early establishment of a business basis in an Indian market through developing sales and marketing activities of in-house products especially in immunology and urology where Astellas has strong franchise globally.
The Indian population is approximately 1.1 billion. The Indian economy has been growing with nearly 10% annually and is expected to continuously evolve further. The pharmaceutical market in India is approximately $6.2 billion mainly with infectious diseases supplies, which is the fourth largest pharmaceutical market within Asia after Japan, China and Korea. The market is expected to further expand since the intellectual property rights are getting systematized after the establishment of Product Patent regime in 2005.
Astellas runs its business globally including Europe, the US and Asia and has its marketing subsidiaries in 7 areas within Asia (China, Korea, Taiwan, Hong-Kong, the Philippines, Thailand and Indonesia). Astellas is aiming at further business expansion within Asia with this entry into the Indian market as a footing.
The details of the marketing subsidiary in India is as follows:
Name: Astellas Pharma India Private Limited
Date of establishment: November 14, 2008 (local time)
Capital: 160 million India rupees (approximately 320 million yen)
Location: Mumbai, Maharashtra state, India
Representative: Teruo Yasufuku
Businesses description: Import and marketing of pharmaceuticals