Daiichi Sankyo Co. and GlaxoSmithKline have stated that they have agreed to form a 50-50 joint venture which will bring new products to the Japanese market.

This collaboration marks another step in our strategy to build our presence in key growth markets and will create the first and largest company dedicated solely to vaccines in Japan, said Christophe Weber, who is president designate of GlaxoSmithKline Vaccines.

Daiichi, Japan's No. 3 drugmaker, has stated that the joint venture will be called Japan Vaccine Co. and will launch in July. It added that the objective of this venture will be to bring together the products and technologies of the two companies.

For GlaxoSmithKline, vaccine sales in Japan totaled about 60 billion yen ($0.8 billion) last year. The development and commercial rights for vaccines from both parent companies will have to be inherited by the venture before the operations begin.

Cervical cancer vaccine Cervarix, rotavirus vaccine Rotarix and vaccines against influenza, diptheria and measles rubella, among others will be supplied through this joint venture, according to the statement by GlaxoSmithKline.

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