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 Corporate - Alliances & Joint Ventures
NPIL ties up with Japanese co


Mumbai, Dec. 19

Nicholas Piramal India Ltd has entered into a 49:51 joint-venture with Japan-based Arkray Inc to market diagnostic products, specifically the selfmonitoring blood glucose system in the Indian market. As per the agreement, NPIL will transfer its existing blood-glucose monitoring business into the JV for a consideration of Rs 4 crore. Arkray Inc is a market leader in the self-monitoring blood glucose market in Japan with a dominant market share and its products are distributed in over 80 countries around the world. The JV will market NPIL's products and also launch other blood glucose-monitoring systems of Arkray Inc, including its new products in India. The blood glucose system market in India is in excess of Rs 100 crore and estimated to be growing around 20 percent per annum. NPIL shares were down 1.02 percent at Rs 364.40 on the BSE. - Our Bureau

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