Singapore, Aug. 27 -- Nippon Kayaku, Formiica Pharmaceuticals and CBC Co. have agreed to jointly establish a joint venture (JV) for the purpose of in-licensing pharmaceutical products into Asia including Japan and/or Oceania.This joint venture will be established through joint investment by Nippon Kayaku, Formiica, and CBC, with its base in Singapore. Its main purpose is to in-licensing pharmaceutical products developed and owned by other companies, and to sublicense such products to countries in Asia and/or Oceania, including Japan.

Nippon Kayaku will have preferential negotiation rights regarding the Japanese territory, enabling Nippon Kayaku to be responsible for development and sales in Japan. This is expected to strengthen Nippon Ka...