Fujifilm, which has diversified into the medical and pharmaceutical sectors in recent years, is now targeting the Japanese generics market by entering into a memorandum of understanding to form a joint venture with India’s Dr Reddy’s Laboratories. Fujifilm will own 51% of the new joint venture, which expects to launch its first products in Japan in the next 3–4 years, and Dr Reddy’s will own the remaining 49%.